Macchi di Cellere Gangemi

(The following information was supplied by the firm)

Firm Overview:
Macchi di Cellere Gangemi is a leading independent law firm established in 1986 which provides first class legal services and assistance to multinational groups, major companies and public institutions. With over 80 professionals involved in 23 team-oriented, fully-integrated practice areas, it offers a client-based approach that focuses on efficiency and flexibility. Apart from a solid academic background, the firm’s professionals have the necessary skills to address the clients’ complex legal issues by adopting a practical interdisciplinary approach. Thanks to its European presence – through offices in London and Paris and its China Desk team for cross border investments – and an established contact network with other first-tier foreign law firms, it is able to advise on multi-jurisdictional matters in connection with clients’ business activities in Italy and abroad. Active also in Pro Bono advocacy, and having received prestigious awards, it is committed to expanding its areas of expertise which include corporate, dispute resolution, energy and tax.

Managing Partner: Claudio Visco
Number of partners: 20
Number of lawyers: 63
Languages: English, French, German, Italian, Spanish

Main Areas of Practice:

Antitrust & Competition:
1 partner
Contacts: Stefano Macchi di Cellere, Salvatore Lamarca
Emails: [email protected], [email protected]

Automotive & e-Mobility:
3 partners
Contacts: Enrico Storari
Emails:  [email protected]

Banking, Finance & Debt Restructuring:
5 partners
Contacts: Claudio Visco, Silvia Dell’Atti
Emails: [email protected], [email protected]

10 partners
Contacts: Luigi Macchi di Cellere, Ernesto Pucci
Emails: [email protected], [email protected]

5 partners
Contacts: Claudio Visco, Francesca Bogoni, Marco Sella
Emails: [email protected], [email protected], [email protected]

Insolvency & Corporate Reorganisations:
5 partners
Contact: Silvia Lazzeretti
Emails: [email protected]

Labour & Social Security:
2 partners
Contacts: Marco Lanzani
Emails: [email protected]

Litigation & Arbitration:
10 partners
Contacts: Silvia Lazzeretti, Claudio Visco
Emails: [email protected], [email protected]

Public Law & Procurement:
2 partners
Contact: Francesco Angelini
Emails: [email protected]

3 partners
Contacts: Bruno Gangemi, Arnaldo Salvatore
Emails: [email protected], [email protected]

We believe, as business lawyers, that it is our professional duty and ethical responsibility to act also for the most vulnerable and disregarded individuals in our society. Therefore we have developed a flourishing Pro Bono practice, whose focus is to provide free legal advice and assistance to those in need, in favour of non-profit organisations, social cooperatives and communities promoting the public good that are not always able to afford the direct costs for the required legal assistance.
To date, our Pro Bono work consisted of legal assistance and advice offered in specific cases to or through organisations such as, Save the Children, Tide Global Learning, Antigone, DO&MA, CILD

Key Contacts

Managing Partner:

Claudio Visco
[email protected]

Firm Rankings

Banking & Finance: Litigation
Band 3


Band 3


Dispute Resolution
Band 4


Band 3


Labour & Employment
Band 3


Band 3


Band 2


Lawyer Rankings


A15% Tax on Photovoltaic Plants on Agricultural Lands: The “Step-Back” Interpretation of the Italian Tax Authorities

The granting of surface right on agricultural lands is subject to registration tax at the rate of 15% and not 9%, as well as mortgage and cadastral taxes at the fixed amount of Euro 50: this was clarified by the Italian Tax Authorities by answer to Ruling no. 365 of 3rd July 2023, overruling (sic!) the […]

Italian Supreme Court Admits Appealability of a Self-Defence Refusal That’s Contrary to a Final Decision

With respect to the tax administration’s power of self-defence, the Italian Supreme Court of Cassation in its decision no. 18241 of 26th June 2023 declared null and void a self-defence refusal by the Italian Revenue Agency on the ground that it was in conflict with a previous final decision of the same Court.  The dispute in […]

Interest Rate Swap: The Joint Divisions of the Supreme Court Reiterate the Jurisdiction of the Italian Court

With the recent decision of 29 May 2023, the Joint Divisions once again ruled in favour of the Italian Court with regard to a dispute arising from derivative contracts signed by an Italian local authority.  The Joint Divisions applied the consolidated case law according to which jurisdiction is determined exclusively on the basis of the principal […]

Towards a Simpler and Faster Enforcement?

Enforcement proceedings, that is the possibility to enforce the recovery of the money owed from the debtor, is an essential aspect of the creditor’s tangible protection. Very often, however, compiling a list of the debtor’s assets necessary to search for assets to be attached is not easy, especially with regard to bank accounts and credits […]

Italian DPA fines the Benetton company

ITALIAN DPA FINES BENETTON FOR 240,000 EUROS. With an injunction order, the Italian Data Protection Authority fined the Benetton company for breaching some principles of the GDPR regarding data retention, minimization, and technical and organizational security measures. The Italian Data Protection Authority (“Garante” or “DPA”) fined the Benetton company for certain violations regarding privacy regulations. […]

Omnia Tempus Habent. Make Way for Notaries!

What has changed since 28 February 2023 about voluntary jurisdiction and authorisations to protect the most vulnerable. As is probably already well known, from 28 February 2023 notaries have become an alternative to the judge supervising a guardianship in respect of authorisations for the execution of public deeds and authenticated private contracts involving a minor, an interdicted […]

Mandatory Joinder in the Appeal Judgment: The Omitted Notification of the Appeal, Its Effects and Necessary Remedies

It has been a while since the Supreme Court has established that the appeal judgment must indeed is a case of mandatory joinder, which means that all the parties who participated to the judgement of first instance must take part in the appeal judgment whenever there is a concrete risk of conflicting rulings. When the […]

Cultural Heritage Sites with Restrictions: The Power Lies in the Hands of the Ministry of Culture

CULTURAL HERITAGE SITES WITH RESTRICTIONS ON INTENDED USE: THE COUNCIL OF STATE ACKNOWLEDGES THAT THIS POWER LIES IN THE HANDS OF THE MINISTRY OF CULTURE. Through an important decision, the Council of State’s Plenary Assembly no. 5 of 13 February 2023, admitted the possibility for the administration to impose, according to adequate justification, a “restriction […]

Artificial Intellegence May Lead to Human Extinction: The Creators Themselves Are Saying so!

“Mitigating the risk of Artificial Intelligence extinction should be a global priority along with other societal-scale risks such as pandemics and nuclear war“. This is the statement with which the letter published in the Center for AI Safety and signed by more than 350 prominent figures opens, including: Sam Altman (CEO of OpenAI); Demis Hassabis (head of Google DeepMind, […]

Fair Compensation for Professionals is Law: Let’s See How It Works

On 20 May 2023, Law No. 49 of 21 April 2023 on “Provisions on fair compensation for professional services” entered into force. The ratio of this new Law is ensuring that professionals receive compensation commensurate with the value of their services and strengthening their protection in contractual relations with certain companies that are considered strong […]

“Unexpected Judgments”: Are They Void? If Yes, in Which Cases?

THE SO CALLED “UNEXPECTED JUDGMENTS”: ARE THEY VOID? IF YES, IN WHICH CASES? The “unexpected judgments”, also known as “third option judgments”, are Court decisions based on exceptions/issues detectable ex officio by the judge, upon which the parties did not have the chance to discuss. Such bold initiative of the Court may lead to the annulment of […]

Court Clarifies That “Mediated” Control is Not Relevant…

PRESUMPTION OF “TAX INVERSION”: THE ITALIAN SUPREME COURT CLARIFIES THAT “MEDIATED” CONTROL IS NOT RELEVANT. With decision no. 9400 of 5th April 2023, the Italian Supreme Court of Cassation ruled on “tax inversion”, clarifying that, in order to determine whether or not a foreign company is controlled by an Italian company, the test of legal internal […]

Whistleblowing: The Main Changes…

Legislative Decree No. 24 of 10 March 2023, which transposes Directive no. 1937/2019, extends the scope of application of the “whistleblowing” rules and provides for four main innovations: the extension of the obligation to all private legal entities with at least 50 employees even if they do not have an organisational model, the introduction of […]

Violation of the Shareholders’ Agreement: An Alternative Remedy

The Court of Milan has ruled in favour of the possibility, for the parties, to obtain as a precautionary measure a ruling that prevents the shareholder from conduct in conflict with the negotiating structure contained in the shareholders’ agreement entered into with the other shareholders, thus preventing its probable breach. By decree dated 9 October […]

Perhaps Not Everyone Knows That…

Brief update of civil procedure according to the latest Supreme Court rulings filed in March 2023.  In its Order no. 6318 of March 2, 2023, the Court of Cassation ruled that – in the case of notification by certified email (PEC) – the power of attorney issued in analog form and transformed into an electronic copy […]

The Italian Tax Authorities Intervened Again…

ANSWER TO RULING NO. 251/2023: THE ITALIAN TAX AUTHORITIES INTERVENED AGAIN ON FOREIGN INTERPOSED TRUSTS. TAX TREATMENT, TAX COMPLIANCE AND MONITORING OBLIGATIONS FOR BENEFICIARIES TAX RESIDENT IN ITALY. By answer to ruling no. 251 of March 16th, 2023, the Italian Tax Authorities intervened again on the interposition of two foreign trusts, clarifying the relevant tax […]

Limits of the Power Not to Award a Tender

In its judgment no. 384 of March 11, 2023, Sec. V of the Council of State ruled on an issue that is rather common in the field of public tenders : the contracting authority either annuls the entire tender procedure as a matter of self-defense, or does not award the tender to the runner-up on […]

ChatGPT: Reflections on the Block Imposed on Italian Users

The precautionary measure adopted as a matter of urgency by the Italian Data Protection Authority has turned into a querelle between two factions: those who believe that this is intended to block innovation and technology and those who argue that the protection of people’s rights and freedoms is superior to the development of artificial intelligence […]

The (Un) Happy Relationship Between SIAE and Social Networks: The Meta Case

Meta and SIAE failed to reach an agreement to keep ensuring the free sharing of songs and copyrighted content managed by the Italian Body on social platforms owned by the Menlo Park giant, Instagram and Facebook. The after-effect is the blocking and muting of all content featuring music tracks from SIAE repertoire, although creators will […]

New Frontiers of Contractual Nullity in OTC Derivatives: Cause in Concrete, or Cause in Abstract?

By decision dated December 23, 2022, the Court of Milan declared the nullity of the swap contract designed to hedge the underlying indexed financial lease “due to the non-existence in the abstract of the risk in relation to all the variations of the parameter interest rate […]” and to the consequent “lack of the cause […]

The Consumer Code: Upcoming News in April

After the recent amendment to legislative decree no. 206 of November 6th 2005 which came into force in January 2022, further amendments were made to the Consumer Code with special consideration to the digital market. Such modifications will be binding starting from April 2nd 2023. Legislative decree no. 26 of March 7th 2023 (Official Gazette 18.03.2023 no. 66) […]

The Rules of Damages

A very recent judgement of the Supreme Court (Court of Cassation 1.02.2023 no. 2982) offers the cue to take up some central themes of civil litigation, which are always very topical. The subject of the case was a claim against a municipality for damages suffered by a car due to the flooding of a road […]

The Simplified Reverse Merger…

The Interregional Committee of the Triveneto Notaries recently published a guideline on “simplified reverse merger” (Guideline L.A. 35), which affirmed the possibility to extend the simplified merger procedure set forth by Article 2505-bis of the Italian Civil Code also to a non-totalitarian “reverse merger”, i.e. the parent company holds at least 90% of the registered […]

Personal Data Transfers To The United States

The European Data Protection Board is the committee that brings together the EU Privacy Authorities. Its tasks include – inter alia – the advise to be given to the European Commission on data adequacy decisions, through which it determines whether a foreign jurisdiction is to be considered adequate with respect to the data protection standards provided by […]

The Conventional Warranty and the New Liability of the Manufacturer…

Is There Really Something New Under the Sun? A new manufacturer liability has been provided by the Italian Consumer Code when a conventional warranty is granted: in such a case, the Consumer is entitled to start a legal action against the manufacturer directly in order to declare the existence of defects of the goods and obtain their […]

Unilateral Modification of the Energy Supply Contract or Contract Renewal?

Changes to energy supply contracts are allowed, but under specific conditions only. With its decision of 22 December 2022, the Council of State clarifies the scope of application of Article 3-bis of the ‘Decree Aiuti bis’ (Law Decree No. 115/2022) following the joint public statement of ARERA-AGCM and the AGCM’s statement of October 2022. The […]

Italian Budget Law 2023. Special Voluntary Settlement of Tax Paid Late…

APPLICATION PROFILES AND TIMING Law No. 197 of 29 December 2022, the Italian Budget Law 2023, among the simplifying measures aimed at settling taxpayers’ positions, has introduced the so-called “special voluntary settlement” (article 1, paragraphs 174-178), a provision that taxpayers may use to rectify tax violation relating to regularly submitted – and not yet challenged […]

Louboutin/Amazon: CJEU’S Guidance on the Interpretation of Internet Service Providers’ Liability for Trademark Infringement.

By means of its Judgement delivered on 22 December 2022, in joined cases C‑148/21 and C‑184/21, the Court of Justice of the European Union (‘CJEU’ or the ‘Court’) established that the operator of an online marketplace may be held directly liable for trademark infringement because of advertisements of third-party infringing goods displayed on such a […]

Crypto Assets: The New DORA Regulation

On 27 December 2022, Regulation (EU) 2022/2554 (Digital Operational Resilience Act – DORA) was published in the Official Journal of the European Union. DORA aims to ensure digital operational resilience in the financial sector in the event of failures. The regulation is part of the EU Commission’s wider ‘Digital Finance Package’, which includes two other pieces of […]

“New year, New Justice”. The Reform of the Civil Process Has Already Partially Entered into Force. Let’s See What has Changed, or Will…

By means of art. 1, paragraph 380, of the 2023 budget law (No. 197 of 29 December 2022), the entry into force of the civil process reform – initially scheduled for 30 June 2023 – was brought forward by a substantial amendment of the transitional rules provided for in art. 35 of the Legislative Decree […]

Meta: 390 Million Euro fine and Ban on Personalized Advertising Without Consent…

It is now all over the national and international headlines the news of the sanction imposed by the Irish privacy authority, on Meta for carrying out the personalization of advertisements on Facebook and Instagram, in execution of a contract, without obtaining the specific consent of the customer. The Irish authority called the Data Protection Commission […]

Attention to What (And How) You Donate

LETTER TO SANTA CLAUS. ATTENTION TO WHAT (AND HOW) YOU DONATE. As is well known, donations are considered as “anticipated testamentary wills” and, as such, they are provided for in the second book of the Italian Civil Code, whose object is the inheritance. Donations, exactly as any other testamentary will, can violate the rights of […]

Corporate Sustainability Reporting Directive formally adopted by the EU Council

SOCIAL CORPORATE RESPONSIBILITY: THE NEW DIRECTIVE EXPANDS THE NUMBER OF COMPANIES SUBJECTED TO THE SUSTAINABILITY REPORTING FRAMEWORK AND INCREASES THE NON-FINANCIAL REQUIREMENTS. On 28 November 2022, the Corporate Sustainability Reporting Directive (“CSRD Directive“) was formally adopted by the EU Council. The regulatory act, waiting to be published in the EU Official Journal, facilitates the transition […]

Challenge of Rulings by the Defaulting Party…

CHALLENGE OF RULINGS BY THE DEFAULTING PARTY: THE SHORT-TERM TIME LIMIT FOR CHALLENGING The rule is simple: the defaulting party’s time limit for challenging a ruling shall runs from the moment when it has knowledge of the adverse ruling. The rule applies both to ordinary civil proceedings (art. 163 and ff. of the Italian Code […]

Juventus Football Club Scores Landmark Win…

JUVENTUS FC SCORES LANDMARK WIN FOR A TM INFRINGEMENT CASE IN THE METAVERSE.   By order issued on July 20th, 2022, the Court of Rome has granted an injunction against Blockeras S.r.l. (“Blockeras”) the creator of NFTs portraying images of a football player, reproducing without authorization the registered trademarks owned by Italian football team Juventus […]

New Rules Concerning Automotive Distribution: What’s New Under the Sun?

Last summer, a couple of months after the entry into force of the European Commission Regulation (EU) 2022/720 on the application of Article 101(3) of the Treaty on the Functioning of the European Union to categories of vertical agreements and concerted practices, the Italian Parliament enacted an important provision on automotive distribution. Pursuant to Italian […]

$391.5 Million Fine for Google…

$391.5 MILLION FINE FOR GOOGLE: VIOLATED USERS’ PRIVACY AND PROFILED THEM, MISLEADING THEM ON GEOLOCATION POINT. The world’s most widely used search engine misled users into thinking that by turning off location tracking – disabling the feature in their account settings – users would no longer be geolocated. After four years of investigation, the New […]

New Proposal to Reform Data Protection in the UK

THE NEW PROPOSAL TO REFORM DATA PROTECTION AND PRIVACY REGULATIONS IN THE UNITED KINGDOM.   On 18th July 2022, the Data Protection and Digital Information Bill (Bill 143 2022-23) was introduced in the British House of Commons. If enacted, this new bill would amend the current rules on data protection and privacy in the United […]

EU Court on Jurisdiction Concerning Trademark Invalidity Counterclaims

By means of a recent decision of October 13th, 2022, the Court of Justice of the European Union (CJEU) has answered the question on whether an EU trademark court hearing an action for infringement based on an EU trademark – the validity of which is challenged by means of a counterclaim for a declaration of […]

Paywalls: Legitimate?

The decision of many news online editors to prevent access to their websites without subscribing or accepting cookies for advertising purposes is causing discussion and has once again brought to the attention of the Privacy Guarantor, so called Garante, the legitimacy of this type of tool (so-called Paywall). But what does the legislation provide for […]

Reduction of Share Capital to Partially Cover Losses of More Than a Third, A New Perspective?

With Recommendation no. 204 of July 5th, 2022, the Milan Notarial Council intervenes on the interpretation of the measures that can be implemented in the case of occurrence of losses exceeding one third of the share capital of S.p.A. (Società per Azioni) and S.r.l. (Società a responsabilità limitata), without affecting the legal minimum. In these […]

The Witness Evidence: A New Kind of Evidence in Tax Trials

One of the most important innovations brought by the law reforming the tax trials (Law no. 130 of 31 August 2022) is the possibility for the parties to request, upon certain conditions, witness evidence. This is an absolute novelty since the old paragraph 4 of Article 7 of Legislative Decree 546/1992 (and before that the […]


On 2 August 2022, the (outgoing) Government submitted to Parliament the draft legislative decree that should implement the reform of the civil process in accordance with the Enabling Law No. 206/2021. As known, the Enabling Law came into force on 24 December 2021 and the next Government must implement it within the year, i.e. by […]


Within the framework of the significant recently enacted changes concerning the judicial tax system, it has been introduced the possibility to settle tax disputes pending before the Court of Cassation as of 15 July 2022 and those disputes for which the appeal to the Court of Cassation has been notified by 16 September 2022.  Law […]

Cross Border Distribution of Units or Shares of Collective Investment Undertakings. Recent Amendments to the Issuers’ Regulation.

s a result of the consultation procedure and in implementation of the so-called CBDF Package (Cross-border fund distribution package, i.e. the Directive (EU) 2019/1160 and Regulation (EU) 2019/1156) on the cross-border distribution of units or shares of collective investment undertakings (UCIs), through Resolution No. 22437 of 6 September 2022, Consob has amended the Issuers’ Regulation (Consob Resolution No. 11971 of 14 […]

A Solution to High Electricity Prices. The Power Purchase Agreement (PPA)

PPAs are medium-to long-term contracts that allow electricity prices to be fixed and which guarantee the investor conditions of financial stability to proceed with the investment. Looking ahead, they can be a solution to high prices on the energy market and are an attractive instrument when they are used to buy and sell ‘green’ electricity […]

Google Analytics: Illegitimate or The Perspectives of Version 4.0

In recent weeks, the decision of the Italian Privacy Authority (“Garante”) in which the use of Google Analytics (LINK), a tool widely used by many websites, was declared illegitimate, because the data transferred to the US are not anonymous and there are no adequate safeguards within the meaning of Chapter V of the GDPR, has […]

Renewable Energy Legal Focus

INTRODUCTION With the publication of Law Decree no. 17/2022 (converted into Law no. 34 of 27 April 2022) and Law Decree no. 50/2022 (converted into Law no. 91 of 15 of July 2022), improvements were introduced aimed at simplifying the authorization procedures for renewable source plants. The legislative measures concern: Simplified authorization procedure relating to […]

Court of Cassation Affirm That The Defendant’s Failure to Appear in the Court Proceedings Implies Acceptance of the Jurisdiction…


The Business Crisis and Insolvency Code Finally Entered into Force

As you are probably aware, the Business Crisis and Insolvency Code, codified in Legislative Decree 14/2019, finally entered into force on 15th July. Its entry into force, with the exception of a few provisions, has been postponed several times and the text has been subject to numerous amendments, the last one just a few days […]

Amendments to the Charts for Lawyers’ Fees Liquidation: What’s New Under the Sun?

The document containing a proposal for the modification of the Ministerial Decree n. 55, March 10th, 2014, is under review by the Italian Parliament. The proposal contains several updates to the Decree’s charts on which lawyers’ fees are calculated. The Senate is evaluating a draft which should amend the Ministerial Decree n. 55, March 10th, […]

The Principle of Equivalence in Public Tenders:

THE INTERESTED PARTY HAS THE BURDEN TO PROVE IT AND THE CONTRACTING AUTHORITY HAS THE OBLIGATION TO EVALUATE IT. The Council of State, Section III, with its judgement No. 65 of 7 January 2022, returned once again on the subject and has clarified some important points regarding the application prerequisites and the binding effects on […]

“Negativa Sunt Probanda!” St. Peter’s Dome Hasn’t Collapsed and the Tiber Isn’t Dry!

With its Order No. 35146/2021, the Court of Cassation finally dictated the principle of law according to which “the circumstance that a chapter of evidence by witnesses is formulated in the form of a negative question does not constitute, per se, a cause of inadmissibility of the request for preliminary investigation”. Specifically, the ruling of the […]

Compliance Obligations Related to Video-Surveillance Systems

The design and the installation of a video surveillance system in Italy is often carried out without complying with data protection regulations, thus exposing companies to fines that can amount to several million euros. The most important rules on video surveillance are prescribed in general by the General Data Protection Regulation (EU Regulation 2016/679 or […]

A Record Conviction for a Former Coca Cola Employee for Trade Secrets Theft in the US

On May 9th, 2022, a federal judge in Greeneville, Tennessee, sentenced a Michigan woman, known as Xiarong You, to 168 months in prison, the equivalent of 14 years, for trade secret theft, economic espionage and fraud. The defendant was also ordered to serve three years of supervised release and pay a $200,000 fine. According to […]

Online Incorporation of Limited Liability Companies…

ONLINE INCORPORATION OF LIMITED LIABILITY COMPANIES: TECHNOLOGIES AND NEW OPPORTUNITIES. Legislative Decree No. 183/2021, which implemented EU Directive 2019/1151, introduced significant innovations in the field of corporate law aimed at simplifying certain procedures. One of the most important areas of intervention regards the possibility to incorporate limited liability companies (società a responsabilità limitata – S.r.l.) […]

Taxation of Severance Pay…

TAXATION OF SEVERANCE PAY (T.F.R.): SHOULD THE TAX ADMINISTRATION APPLY THE SEVERABILITY CLAUSE? With regard to the recalculation of the tax due on severance pay liquidated by the employer, the Tax Administration is also required to consider the so-called “severability clause” set forth in Article 1, paragraph 9 of Law No. 296/2006 (2006 Finance Act), which provides […]

Privacy Authority Sanctions Two Companies of the UBER Group…

PRIVACY AUTHORITY SANCTIONS TWO COMPANIES OF THE UBER GROUP FOR MORE THAN EUR 4 MILLION. The Italian Privacy Authority has sanctioned two companies of the Uber Group for around EUR 2 million each. The main violations found were unsuitable disclosures, the processing of data without proper consent, and the failure to notify a data breach. After […]

The Court of Cassation Deal with the “Russian Roulette Clause”…

THE COURT OF CASSATION DEALS WITH THE “RUSSIAN ROULETTE CLAUSE” … AND DOES NOT DECIDE. In a previous newsletter (on 09.04.2021) we had already written about the so called “Russian roulette” clause, which can be provided for in the company by-laws or in a shareholders’ agreement. It is – as already illustrated – a “deadlock-avoiding” […]

SWAPS: “Confusion Between the Object of Content of the Contract”

SWAPS: “CONFUSION BETWEEN THE OBJECT OR CONTENT OF THE CONTRACT, AND THE INFORMATION THE INTERMEDIARY IS REQUIRED TO PROVIDE, PRIOR TO THE CONCLUSION OF THE SWAP”. The Court of Turin disapply and redraw the principles set out by the Joint Divisions on the subject of derivatives. With ruling no. 673/2022, the Court of Turin acknowledges […]

Brexit Update on UK Imports

On 1st January 2022, the UK government began implementing the first set of customs rules for imports of goods coming from the EU. The Public Accounts Committee of the UK Parliament has published a report on the state of implementation of the new customs regime and the likely effects on imports and exports between the […]

Revaluation of Company Assets and Tax Step-up

With Circular letter no. 6/E of March 1, 2022 (hereinafter, the “Circular Letter“), the Italian tax authorities issued clarifications regarding the regulations set out in art. 110 of Law Decree no. 104 of August 14, 2020, implemented, with amendments, by Law no. 126 of October 13, 2020 (the “Decreto Agosto”), whereby was (re)introduced: – a […]

Lots of Ideas, But Not Very Concrete or Ongoing. In Time We will Find Some Solutions.

In recent times, unfortunately, also in light of recent sad international events, there have been various interventions by the legislator in the energy field, which for the time being have resulted in determining an increase of investors’ mistrust in the renewable sector. The latest measure seems to want to restore investors’ confidence, but there is […]

Certified E-Mail Box Full: What Happens Next?

For years the certified e-mail box (PEC – certified electronic email, equivalent of registered mail) has been an essential tool for the lawyer, especially in relation to litigation and the formal service of Courts documents. This occurs not only when the professional finds himself the recipient of communications or notifications from the judicial bodies and […]

Renewable Energy, Legal Focus

INTRODUCTION During the last few months several new measures have been introduced to promote the production of energy from renewable sources. The main innovations concern, among the others: the authorization procedures for: the construction of new plants  the modification of the existing plants The assessment procedures regarding the environmental impacts  the identification of […]

The EU Pushes for the Elimination of Shell Companies at the EU Level

On December 22, the EU Commission presented the proposal for a directive to prevent the misuse of shell companies for tax purposes (Go to Link). The proposal is part of a package of measures that also includes the proposal for a directive on the minimum taxation of multinational companies which transposes the agreement internationally reached on […]

The Italian Consumer Code: here are the changes for 2022

The Italian Legislative Decree n°170/2021 has made important amendments to the Italian Consumer Code not only extending the rules in favour of the Consumer, but also dealing with age-old questions that provoked much debate in both doctrine and case law. Chapter I of the Title III, Part IV of the Code has been completely revised. […]

Virtual currencies: means of payment or financial products?

In a recent judgment, the Supreme Court (Court of Cassation, criminal section, sec. II, November 10th, 2021, no. 44337) has ruled that bitcoins as well as other virtual currencies are not per se classified as financial products however, should the sale of bitcoins integrate an investment proposal, the offeror is subject to specific duties. More in detail […]

How “pulp” are NFTs? The NFT landing in the movie industry: the “Pulp Fiction” case.

On November 16th, 2021, Los Angeles-based entertainment company Miramax has sued Quentin Tarantino before the US District Court for the Central District of California, for his planned sale of NFTs (Non-Fungible Tokens) related to the 1994 movie “Pulp Fiction” associated with high-resolution scans consisting of “a single iconic scene, including personalized audio commentary” along with “a hold […]

The unfair use of closing statements

In the first instance of a dispute or during the appeal, when oral discussion of the evidence of a case is not permitted, the parties are entitled to file closing statements of defence in order to structure and summarise the arguments used in the dispute in the light of all the evidence presented to the […]

Investment services: breach of disclosure obligations.

By judgment No. 24010 of September 6, 2021, concerning damages for breach of information obligations in the provision of investment services, the Court of Cassation clarified some procedural and liability aspects relating to the joint and several liability of financial promoters (“promotori finanziari”) and intermediaries. In particular, with regard to the alleged breach of the […]

Auditors’ liability for activities occurring prior to their taking office.

The liability of the members of corporate bodies is – as is normal – the subject of an extensive and articulated dispute that is often characterized by complex judgments and very technical contents. With regard to auditors, in particular, jurisprudence has examined their profiles in relation to the wide range of tasks attributed to them. […]

The shortage of raw materials: is it a force majeure? How long will it last?

There is no doubt that, for some time now, in several industrial sectors, manufacturers and importers of high-tech goods have faced a shortage of raw materials, with inevitable delays in manufacturing processes and significant impact on the delivery of the finished product. Often, the final customer won’t listen to reason because they were relying on […]

Remote work & inbound execs tax breaks

Remote working – do Italian tax breaks apply to foreign employed executives transferring to Italy? The response of the Revenue Agency. Introduction In the last few years, the Italian government has introduced several measures aimed at attracting international talented and promising individuals to Italy. The objective of these measures is to boost further the appeal […]

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