MILAN, Jan 11 (Reuters) - Milan prosecutors have filed a bankruptcy request for a holding company which indirectly controls debt-laden Mariella Burani Fashion Group (MBFG) (MBFG.MI), judicial sources said on Monday 11 January.

Mariella Burani autumn-winter 2009/2010 in Milan - Photo: PixelFormula

Burani Designer Holding (BDH), for which the request was filed, has a controlling stake in Mariella Burani Family Holding (MBFH), which in turn controls the listed luxury goods maker, according to judicial sources.

According to prosecutors, BDH has debt of 20 million euros ($28.64 million), of which about 15 million euros is owed to banks, and about 5 million euros to Mariella Burani Fashion Group (MBFG).

MBFG did not respond to repeated calls and email.

MBFG, whose shares are suspended, had net debt of 492.6 million euros at end-November. Falling sales have seen it unable to pay off debt, the result of a string of acquisitions, and it has been talking to banks for months to agree a debt deal.

Late last month, Chairman Walter Burani said Burani Private Holding, which controls both BDH and MBFH, had been put into liquidation but said that would not impact MBFG nor its possible debt restructuring.

On Dec 29, Walter Burani reiterated there was no plan to liquidate the two subholdings BDH and MBFH, which owns more than 70 percent of MBFG.

MBFG said last month its shareholders had agreed to an 83.5 million euro recapitalisation to cover accumulated losses. It added its banks have said they do not want to agree a debt restructuring deal until the Burani family shows it has 50 million euros available for the capital increase.

Talks are underway with Lebanon's Gulf Finance & Investment Corporation to set up an escrow account worth 50 million euros.

Mediobanca (MDBI.MI) has stepped down as financial adviser after failing to reach a financial restructuring deal and MBFG said on Sunday 10 January its board had mandated Walter Burani and Chief Executive Gabriele Fontanesi to pick a new advisor.

Founded in 1960, Mariella Burani is among several luxury goods groups to fall into financial trouble as the global crisis squeezes demand for clothes and accessories. (Reporting by Manuela D'Alessandro; Editing by Louise Heavens)