ARTICLE · 05 OCTOBER 1998
Y2K - Italian Due Diligence
When an international law firm targets a market for the establishment of a new office, it often enters that market on the shoulders of a major capital venture, depending on the solid and reliable revenues that historically have been generated from due diligence exercises. Presently, Italy has become the target for an invasion of English, and, more recently, American law firms. For these firms, a country like Italy, which is on the verge of potentially dazzling growth in the capital market, and which offers relatively weak domestic competition in the legal services market, is irresistible.
The traditional Italian corporate finance structure based on family proprietorships and personal guarantees to secure enormous bank loans is succumbing to increasing pressure from competition in the global market. In addition, privatisation and the introduction of legislative initiatives encouraging investment in the capital markets by private and institutional investors, such as the Testo
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