Technically i dont think its illegal, in the case above.

As you would be grafting on a bulkhead and inner wings for repair.
How many cossies and S1 turbos do you know that havnt had some sort of inner wing grafting.

And also if you look at limmosines (sp) they are basically a cut and shut also. but are legal on the road!!

I suppose it depends alot on where the chassis number is stamped.

And more likley if the job is carried out buy a competant trained professional.

I suppose you really need to contact the dvla or vosa or someone like that to get a definate answer.

But one thing i will say is it really worth the hastle.

Those ferraris (308 correct me if im wrong?) are not worth a huge deal of money to buy anyway.

Id say (providing its legal) if you carry out the repair then only do it if your going to have no intention of selling it.

Cos i doubt you will have many buyers for a "bent cut and shut" ferrari and certainly it wont be worth anyway near as much as a "straight" one.

Have you looked into maybe buying a stripped shell (if you can find one)and the putting all the bits of this wrecked one into it?

But IMHO it will be false economy to fix this one, and will most likley work out cheaper to buy a sorted one in the first place.