The Legal 500 > Cleary Gottlieb Steen & Hamilton LLP > Milan, ITALY

Cleary Gottlieb Steen & Hamilton LLP

VIA SAN PAOLO 7, 20121 MILAN, ITALY

Tel:: Work +39 02 72 60 81
Fax:: Fax +39 02 86 98 44 40

Web:: www.cgsh.com

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Italy

Top-tier recommendations

Italy > EU, regulatory and competition law

Recommendations

Italy > Administrative law
Italy > Banking and finance
Italy > Corporate and M&A Milan and Rome
Italy > Dispute resolution
Italy > Energy
Italy > Restructuring and insolvency
Italy > Tax
Italy > TMT

Italy: Capital markets > Capital markets: Debt
Italy: Capital markets > Capital markets: Equity

Italy

Within Administrative law Other recommended firms

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Within Banking and finance, tier 4

Cleary Gottlieb Steen & Hamilton LLP’s Milan-based Roberto Bonsignore is ‘excellent; his advice and local market knowledge are invaluable’. Rome counsel Claudio Di Falco is also highly rated. Counsel Carlo de Vito Piscicelli, who returned to Europe from New York, splits his time between Milan and London. The team advised Sogefi on negotiating a five-year term and revolving credit agreement worth €200m with a pool of lenders led by ING Bank.

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Within Corporate and M&A Milan and Rome, Cleary Gottlieb Steen & Hamilton LLP is a second tier firm,

Cleary Gottlieb Steen & Hamilton LLP recently advised Angelo Moratti, Gian Marco Moratti and Massimo Moratti on the €178.5m sale of a 13.7% stake in Saras to Rosneft JV Projects; and subsequently represented Saras in the voluntary €94.9m partial tender offer launched by Rosneft JV Projects to purchase a 7.29% stake in Saras. Milan-based Roberto Bonsignore ‘does a great job of helping to contextualise and understand Italian matters’, Roberto Casati and Pietro Fioruzzi are recommended, and Rome-based Giuseppe Scassellati-Sforzolini is also highly rated.

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Within Dispute resolution, Cleary Gottlieb Steen & Hamilton LLP is a second tier firm,

Cleary Gottlieb Steen & Hamilton LLP recently successfully defended three HSBC Holdings companies and other entities against all damages claims brought by Independent Global Managers in connection with HSBC’s role as custodian of Thema International Fund; the case was the first Italian decision in the Madoff fraud litigation. Rome-based Ferdinando Emanuele and Milan-based Carlo Santoro are highly rated.

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Within Energy, Cleary Gottlieb Steen & Hamilton LLP is a third tier firm,

Cleary Gottlieb Steen & Hamilton LLP advised Angelo Moratti, Gian Marco Moratti and Massimo Moratti on the sale to Rosneft JV Projects of a 13.70% stake in Saras, an Italian oil refinery and energy company.

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Within EU, regulatory and competition law, Cleary Gottlieb Steen & Hamilton LLP is a first tier firm,

Cleary Gottlieb Steen & Hamilton LLP remains the ‘top antitrust and competition law firm in Italy’. The practice provides EU and Italian law advice to some of the largest Italian and multinational companies regarding matters such as abuse of dominant positions, state aid, restrictive agreements or practices. It also acts for clients in subsequent appeals before national and international courts and institutions, and has experience in merger clearances. Rome-based Mario Siragusa and Pietro Merlino are ‘very experienced, diligent and client-oriented’. In Rome, Marco D’Ostuni and Giuseppe Scassellati-Sforzolini are recommended along with counsels Cesare Rizza and Pietro Merlino. Counsel Matteo Beretta in Milan is another key adviser.

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Within Restructuring and insolvency, Cleary Gottlieb Steen & Hamilton LLP is a third tier firm,

Cleary Gottlieb Steen & Hamilton LLP’s recent experience includes advising the senior secured bondholders on Seat Pagine Gialle’s debt restructuring.

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Within Tax, tier 4

Cleary Gottlieb Steen & Hamilton LLP’s ‘service levels are of high quality’. The team acted for Europa TV in a successful appeal before the Italian Supreme Court on the notion of abuse of law raised by a second instance tax court. Rome-based Vania Petrella is ‘smart and responsive’.

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Within TMT, tier 4

Cleary Gottlieb Steen & Hamilton LLP advises IT, media and telecoms clients on the full scope of matters including corporate transactions, regulatory matters, investigations and disputes on issues related to patents, licensing, and abuses of dominant positions.

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Italy: Capital markets

Within Capital markets: Debt, Cleary Gottlieb Steen & Hamilton LLP is a third tier firm,

Cleary Gottlieb Steen & Hamilton LLP was Italian, US and international counsel to issuer Fiat Finance and Trade – and guarantor Fiat – in Fiat Finance and Trades’ €850m notes offering. Rome-based Giuseppe Scassellati-Sforzolini is ‘knowledgeable and commercial’; and Pietro Fioruzzi in Milan is also well regarded.

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Within Capital markets: Equity, Cleary Gottlieb Steen & Hamilton LLP is a third tier firm,

Rome-based Giuseppe Scassellati-Sforzolini and Milan-based Pietro Fioruzzi are the key advisers at Cleary Gottlieb Steen & Hamilton LLP, which acted as international counsel to The Hellenic Republic in connection with its exchange of Greek bonds held by private sector creditors; the matter marked the largest-ever bond exchange.

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Legal Developments in Italy

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

FUNCTIONAL AND ACCOUNTING UNBUNDLING IN THE ELECTRICAL AND GAS 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).

- Villata, Degli Esposti, Perfetti e Associati
NEW SET OF INCENTIVES TO INVEST IN JOINT STOCK COMPANIES AND LIMITED LIABILITY COMPANIES IN ITALY

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.

- Italy Legal Focus - Studio Legale Bernascone &
ODOUR POLLUTION REGULATION

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.

- Villata, Degli Esposti, Perfetti e Associati
ITALIAN COMPETITION AUTHORITY TARGETS BIG PHARMA, TRIGGERS EXPANSION OF OFF-LABEL PRESCRIPTION

ITALIAN COMPETITION AUTHORITY TARGETS BIG PHARMA, TRIGGERS EXPANSION OF OFF-LABEL PRESCRIPTION

- Italy Legal Focus - Studio Legale Bernascone &
MEDICAL APPS ON SMARTPHONES AND THE LAW: A DIFFICULT RELATIONSHIP, PARTICULARLY IN ITALY.

I. MEDICAL APPS: THEY ARE HERE TO STAY, AND GROW.

- Italy Legal Focus - Studio Legale Bernascone &
ENVIRONMENTAL DAMAGE AND STRICT LIABILITY

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.

- Villata, Degli Esposti, Perfetti e Associati
WHICH ORGANIZATIONAL MODEL WILL SHIELD AN ENTITY FROM CORPORATE CRIMINAL LIABILITY UNDER ITALIAN LAW

THE 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.

- Italy Legal Focus - Studio Legale Bernascone &
THE “DECREE OF DOING”: OUTLINING SOME OF ITS PRACTICAL ASPECTS

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.

- Villata, Degli Esposti, Perfetti e Associati
WORKING TOGETHER UNDER ITALIAN LAW – BUSINESS NETWORK CONTRACTS

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.

- Studio Legale Associato con Withers LLP
Client Alert: NEW LAW ON FINANCIAL LEASING, FACTORING AND FINANCING COMPANIES IS ENACTED

Expected ever since the first unofficial draft was published by the Banking Regulation and Supervision Authority ( BRSA ), back in May 2008, the new Law on Financial Leasing, Factoring and Financing Companies numbered 6361 ( Law No. 6361 ) has entered into force as of 13 December 2012 with the exception of certain provisions-, upon its publication on the Official Gazette numbered 28496.

- Ersoy Bilgehan Lawyers & Consultants