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Legal market overview
Italy experienced the arrival of yet another new government during 2014, led by the country’s youngest ever prime minister, Matteo Renzi, who promised sweeping political, economic and labour law reforms. Such promise attracted the interest of international investors but Italy, nonetheless, dipped back into recession during the first two quarters of 2014 and, in September, the Organisation for Economic Co-operation and Development predicted that Italy’s GDP would grow by only 0.1% in 2015.
Unsurprisingly, the country’s restructuring lawyers remained busy with high-profile work, while Italy’s debt capital markets specialists tapped into a mini-bond boom, following reforms that allow Italian unlisted small and medium-sized enterprises (SMEs) to issue debt securities and bonds for trading on the professional segment of Italy’s stock exchange.
As always, Italy’s legal market was fluid. Among these changes, Latham & Watkins LLP endured the departure of a six-strong finance team – including former local banking and finance department chair Riccardo Agostinelli, Lorenzo Vernetti and Marco Leonardi – which moved to Gattai Minoli Agostinelli & Partners; Paolo Daviddi joined Grimaldi Studio Legale’s Milan office from Norton Rose Fulbright; and a team of five finance lawyers led by partner Giancarlo Castorino left d’Urso Gatti e Bianchi Studio Legale Associato to join King & Wood Mallesons.
Italy’s leading tax law firms also experienced change: Di Tanno e Associati lost Stefano Petrecca and Eugenio Romita to Macchi di Cellere Gangemi’s Rome and Milan offices, together with several associates; and ex-Maisto e Associati partner Paolo Ludovici founded Ludovici & Partners.
Meanwhile, NCTM Studio Legale Associato merged Studio Panetta & Associati into its Rome office, comprising equity partner Rocco Panetta and seven other professionals, including salary partners Giorgio Telarico and Domenico Rinaldi.
Legal Business: country analysis
Breaking new ground – advisers hope shale revolution can restart CEE market
Weighed down by political unrest and slowing economies, energy and infra projects look like one area to be driving
the CEE economy. Can the shale revolution power up
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One of the issues that Studio Legale Villata, Degli Esposti, Perfetti e Associati has been dealing with recently is the involvement of the regulatory authority AGCOM (Italian Communications Authority) in the postal sector.
I. The Resolution of the Authority for Electricity and Gas (hereinafter just the "Authority"), January 18, 2007, no. 11/07 (hereinafter "TIU") has brought about the introduction of new administrative and accounting separation obligations (also known as unbundling ) for companies operating in the electricity and gas markets. This measure, which is made to meet the provisions of functional and accounting unbundling contained in previous resolutions of the Authority, is part of a regulatory system made up of both national and EU legal sources (among which the following are of particular importance; i) Law 14 November 1995, no. 481; ii) Resolutions Authority no. 310/2001 and no. 311/2001; iii) the EU Directives 2003/54/EC and 2003/55/EC).
Law Decree No. 91 of 24 June 2014, as converted into Law no. 116 of 11 August 2014 introduced a set of measures with a view to favoring investments in the form of either incorporation of Joint Stock Companies ( Società per Azioni , " S.p.A." ) and Limited Liability Companies ( Società a Responsabilità Limitata , " S.r.l." ) or acquisition of stakes in such entities. This alert briefly summarizes the content of the provisions recently introduced.
I. Odour pollution is a significant environmental issue that, if overlooked, can affect public amenity and the quality of life. Indeed, noxious (and even toxic) environmental odours may cause related health problems, triggering symptoms by a variety of physiological mechanisms, including exacerbation of underlying medical conditions, innate odour aversions, aversive conditioning phenomena and stress-induced illnesses.
ITALIAN COMPETITION AUTHORITY TARGETS BIG PHARMA, TRIGGERS EXPANSION OF OFF-LABEL PRESCRIPTION
I. MEDICAL APPS: THEY ARE HERE TO STAY, AND GROW.
I. Our firm, Studio Legale Villata, Degli Esposti, Perfetti and Associates, carries out a large part of its work in the field of Environmental law. The establishment of Law NO. 97/2013 on 6th August 2013 heavily influenced the regulation of compensation for environmental damages, as it follows in the footsteps of European Union Directives by introducing the concept of " strict liability ". This infers a type of liability which is independent from the wilful misconduct or gross negligence of an operator and allows for convictions based upon the damages themselves rather than the deeds or intentions of whoever may have caused them.
WHICH ORGANIZATIONAL MODEL WILL SHIELD AN ENTITY FROM CORPORATE CRIMINAL LIABILITY UNDER ITALIAN LAWTHE ENACTMENT OF LEGISLATIVE DECREE 231. At the time of its enactment in 2001, Legislative Decree no. 231 had a revolutionary impact on the Italian legal system as it subverted a basic tenet of Italian criminal law according to which corporations bore no criminal liability. The assumption that only individuals could be directly subject to criminal sanctions was erased and a system aimed at punishing corporations for crimes committed by individuals to their advantage or in their interest was created . A specific set of sanctions able to punish the corporation and its shareholders was devised: monetary sanctions and blacklisting sanctions (inclusive of the prohibition to carry on the business activity and the appointment of receivers), which may also be ordered on an interim basis, apply instead of arrest and imprisonment of individuals.
The " Decreto del Fare " ("Decree of Doing" - Law Decree 21 st June 2013, n. 69, turned into Law 9 th August 2013, n. 98) contains regulations designed to simplify legal matters related to the construction industry with the purpose of helping its workers and to kick start a sector deeply affected by the economic crisis.
In 2009, Italian Law introduced a new legal instrument, Business Network Contracts (‘BNC’), which allow aggregations of commercial entities to work together in an organised and durable manner (without having to establish a new company or a consortium) whilst retaining their own independence and individuality, as well as benefitting from various incentives and tax benefits.
Danos & Associates will participate as a sponsor at the China Offshore Summit in Shenzhen, China. The conference will take place May 27-28th at the Grand Hyatt. Our firm will be represented by our Managing Partner, Alexios Danos, and Thomas Cheung who is one of our representatives in Beijing.
At the IFLR European Awards on 16 April 2015 in London, Bär & Karrer repeated last year's success by again winning the title "Swiss Law Firm of the Year".
B&P authored an article for the Italian-Serbian Chamber of Commerce newsletter about subsidizing new investors in Serbia.
7 May 2015
In the middle of April, 2015, a consortium with the leading participation of Popov & Partners Law Office signed an agreement with the Supreme Judicial Council of Bulgaria for assignation of:
In its current Special Edition FOCUS Magazine has published a list of the leading tax law firms in Germany. GSK Stockmann + Kollegen was again honored as a “Leading Tax Law Firm 2015" in the areas of “Reorganisation, Corporate Restructuring and M&A” and received the FOCUS-Award “Leading Tax Law Firm 2015”.
GSK Stockmann + Kollegen freut sich, Herrn Dr. Philipp M. Kuhn mit Wirkung zum Jahresbeginn 2015 in den Kreis der Equity Partner aufzunehmen.
GSK ernennt Local Partner aus den eigenen Reihen in den Bereichen Gesellschaftsrecht und Real EstateGSK Stockmann + Kollegen ernennt auch 2015 Local Partner aus den eigenen Reihen: Andreas Dimmling, im Bereich Gesellschaftsrecht in München, und Oliver Koos, im Bereich Real Estate in Frankfurt, wurden zum 1. Januar 2015 in den Kreis der Local Partner aufgenommen.
Pepeliaev Group’s tax practice (Band 1) has once again been hailed as the best on the Russian market according to the Chambers Europe 2015 international legal ratings. Clients surveyed by the experts of Chambers Europe consider that “the lawyers dig deep to find issues that play a role in the mandate," while the team stands out because it “is flexible and understands clients' needs."
Kyiv, Moscow, Almaty, 18 May 2015 - CLACIS , a competition law advisory which focuses on matters concerning competition law and compliance in Ukraine, Russia and Kazakhstan announces its opening.