In a ruling dated 22 June 2023, the Court of Milan focused on the substantive differences and on procedural solutions that distinguish fiduciary registration of shares and fictitious interposition of a person in the ownership thereof.
In a ruling dated 22 June 2023, the Companies Section of the Court of Milan highlighted the substantial differences and the different procedural solutions that distinguish fiduciary registration of shares and fictitious interposition of persons.
In this case before the Court, a party:
– alleged that it had registered company shares in trust in the name of a third party;
– complained that upon request for subsequent re-transfer of the shares, the third party failed to do so;
and, consequently,
– asked the Court of Milan to ascertain and declare its capacity as the beneficial owner of the shareholding and to order the company to immediately transcribe the said shareholding in the Company Register (with the consequent reduction of the shareholdings formally held by third parties).
The Court of Milan rejected the application, Read more
