Not a ‘family’ business: enterprise or professional debts cannot be paid by the patrimonial fund constituted for the needs of the family IBA Litigation Committee Wednesday 4 August 2021 Maurizio Vasciminni Giada Russo Giovanni Gigliotti The matter of asset protection is growing in importance, especially for massive assets, since the Italian 2017 Budget Law introduced the so-called ‘flat tax’. The flat tax regime allows non-Italian resident high net worth individuals to transfer their tax residence to Italy to elect for a flat substitutive tax. The transfer of residence required for the application of the flat-tax regime has…
The applicability of the Italian Business Judgement Rule to directors’ organisational choices IBA Corporate and M&A Law Committee 26 April 2021 Maurizio Vasciminni Giada Russo Giovanni Gigliotti The ‘adequacy of the organisational structure’ duty under the Italian Civil Code According to Article 2086 of the Italian Civil Code, the enterpriser operating as a company (or as a group) must set up an organisational, administrative and accounting structure adequate to the nature and size of the enterprise. Such adequate organisational structure must also be set up in order to detect – in a timely fashion – a crisis at…
Pavia e Ansaldo con Omnia Hotels per l’apertura di due nuovi hotel 4 stelle a Roma Milano, 22 giugno 2020 – Lo Studio Pavia e Ansaldo ha assistito il Gruppo OMNIA HOTELS in quattro distinte operazioni, tra loro coordinate, di acquisizione di partecipazioni societarie, di compravendita immobiliare e di locazione commerciale a lungo termine che hanno avuto come risultato l’acquisto o la presa di disponibilità di quattro strutture alberghiere a Roma (in zona Piazza dell’Indipendenza). Le strutture – a seguito di una serie di interventi di ristrutturazione, riconversione e riqualificazione edilizia – saranno tra loro accorpate e condurranno all’apertura – nel primo…
May the parties derogate both general and special jurisdiction in Italy? IBA Litigation Committee newsletter 13 May 2019 Maurizio Vasciminni Pavia Ansaldo, Rome maurizio.vasciminni@pavia-ansaldo.it Giovanni Gigliotti Pavia Ansaldo, Rome giovanni.gigliotti@pavia-ansaldo.it Giada Russo Pavia Ansaldo, Rome giada.russo@pavia-ansaldo.it Any lawyer dealing with international contracts knows that reaching an agreement on the jurisdiction clause may be quite a difficult task, because each party generally feels more comfortable knowing that disputes arising out of the contract will be referred to a court system it is familiar with. Any such lawyer also knows that the bargaining strength of the parties…