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07 Jun 21: The new Italian class action legislation

The new Italian class action legislation On May 19, 2021 the new Italian class actions legislation, originally introduced by Law no. 31/2019 at articles 840-bis et seq. of the Italian Code of Civil Procedure, came into force after a 13-month postponement due to the Covid-19 pandemic. The new legislation will only apply to facts happened after its entry into force; its most relevant features can be summarized as follows: the so-called ‘compensatory class action’ aims to seek compensation (or restitution) from business entities or public services providers for damages that their conduct caused to the class members. In further detail,…


26 Apr 21: The applicability of the Italian Business Judgement Rule to directors’ organisational choices

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…


18 Feb 21: Arbitration and Consortia

ARBITRATION AND CONSORTIA The recent publication of two rulings issued by different national courts of first instance (Court of Civitavecchia, decision No. 2 of 7 January 2021; and Court of Brindisi, decision No. 22 of 5 January 2021) offers the opportunity to examine the ‘state of the art’ regarding the applicability of the corporate arbitration law to consortia (consorzi).   Bearing in mind that art. 34, legislative decree No. 5 of 17 January 2003 indicates in the ‘companies’ the entities which are governed by the corporate arbitration law, the following question then arises: does the scope of application of the…