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We return to the Northern Metropolis, the large-scale urban and technological development project promoted by the Hong Kong government. It will cover around 30,000 hectares and aims to transform the area into a new international hub for innovation, AI, advanced manufacturing, and integrated infrastructure, in connection with Shenzhen and the Greater Bay Area.

A plan set to have a strong impact on the construction, engineering, design, industrial automation, and sustainable technologies sectors.

What role can Made in Italy play in one of the largest infrastructure investment programs currently underway in Asia?
How can Italian SMEs position themselves to seize opportunities of this scale in a competitive and sustainable way?

These topics were discussed by our Diego Conte and Massimo Caiazza in an interview with Requadro, exploring the outlook for Italian businesses, the potential of the network contract as a tool for aggregation, and the strategic opportunities offered by the project.

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Despite U.S. tariffs diverting trade flows worth $130 billion, China closed 2025 with a trade surplus approaching $1.2 trillion and began 2026 with exports growing by 22%.

What are the characteristics of the Chinese market that have made this increase possible, despite the introduction of restrictive policies against it?

Diego Conte, in an interview with Il Messaggero, explains that these results are the outcome of a deeply structured business culture oriented toward the long term, capable of combining operational discipline, strategic vision, and strong adaptability:“Those who are familiar with the country know that business is approached with focus, consistency, a spirit of sacrifice, and a capacity for saving that we in Europe tend to underestimate. There is a high level of operational readiness, strong decisiveness in decision-making, and, above all, a tendency to view economic relationships as something to be preserved and made to work, rather than as a battleground.”

But how does this mindset translate into a strategy capable of neutralizing the impact of U.S. tariffs?

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De Berti Jacchia assisted NJF Sports & Media Limited, an investor specializing in sports, media, and technology, with expertise in the exploitation and maximization of commercial and sports rights, in the joint venture project with the Lega Pallavolo Serie A Femminile (Italian Women’s Volleyball League).

The deal concerns the management and commercialization, through a newly established vehicle, of the audiovisual and commercial rights related to the sports competitions organized by the League – as representative of the associated clubs – from the 2025/2026 to the 2035/2036 seasons. These currently include the Serie A1 and A2 Championships, the A1 and A2 Italian Cups, the Italian Super Cup, and the All Star Game.

The transaction represents a decisive step toward the modernization and enhancement of the media sector, laying the groundwork for a project which, starting from the 2026/2027 season, envisages free broadcasting of all matches on major platforms and integrated management of media and marketing rights, with the goal of developing and promoting Italian women’s volleyball.

De Berti Jacchia assisted NJF Sports & Media Limited on all legal and tax aspects of the deal with a team composed of partners Andrea Terragni and Claudio Corba Colombo, respectively for intellectual property and corporate matters, supported by senior associate Benedetta Mazzotti. Tax aspects were handled by partner Massimiliano Gazzo.

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The post DE BERTI JACCHIA WITH NJF SPORTS & MEDIA IN THE JOINT VENTURE PROJECT WITH THE ITALIAN WOMEN’S VOLLEYBALL LEAGUE (LEGA PALLAVOLO SERIE A FEMMINILE) appeared first on Studio Legale De Berti Jacchia Franchini Forlani.

The Court of Cassation, with judgment no. 18084 of July 3, ruled that the establishment of a trust and the related acts of asset transfer are enforceable against creditors only if they result from formalities with a certain date prior to the bankruptcy.

This principle confirms the prevalence of creditors’ rights over those of the trust, even when the applicable foreign law provides for less stringent requirements.

In today’s edition of Il Sole 24 Ore, an article by Luca Pescatore analyzes the decision of the Supreme Court, highlighting how Italian rules, while recognizing the trust, prevail in order to ensure the highest level of protection for creditors.

The full article, reserved for subscribers, is available at this link.

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Strengthened statutory autonomy: the Court of Cassation expands the shareholders’ room for manoeuvre

How can a company’s articles of association regulate matters not expressly reserved by the Civil Code?

This point is well explained by Luca Pescatore in an article for Il Sole 24 Ore, analysing Cassation ruling no. 14268/2025.

The Supreme Court confirmed the validity of the simul stabunt simul cadent clause even for companies with a two-tier governance system, clarifying that:

• it does not violate mandatory rules, provided it is applied in good faith and with loyalty;
• it does not constitute dismissal (revoca), but rather a statutory mechanism for early termination known to directors from the moment they accept the appointment;
• it is lawful unless abused, for example if used instrumentally to remove unwelcome directors.

More generally, the ruling confirms that the articles of association may regulate areas not rigidly reserved by the Civil Code to shareholder autonomy, as long as they comply with the general principles of the legal system.

“ Read the full article in italian.

The post STATUTORY AUTONOMY: THE COURT OF CASSATION STRENGTHENS SHAREHOLDERS’ DECISION-MAKING POWER appeared first on Studio Legale De Berti Jacchia Franchini Forlani.

What happens when a shareholders’ meeting revokes the resolution that had legitimized a member’s withdrawal?

Luca Pescatore explains it on NT+ Fisco by Il Sole 24 Ore, analyzing a recent ruling by the Italian Supreme Court (judgment no. 15087 of June 5, 2024), which for the first time interprets Article 2437-bis, paragraph three, of the Italian Civil Code.

If the revocation is resolved within 90 days, the withdrawal loses its effect retroactively, and the shareholder regains their status as a member, once again entitled to exercise all associated rights: from voting to challenging resolutions, and even the right of first refusal on newly issued shares.

This solution allows the company to reverse course and gives dissenting minorities back their voice on key decisions such as transformations, bylaw amendments, or relocations of the registered office.

To learn how this rule applies in practice,

“ read the full article in Italian.

The post THE SHAREHOLDER REGAINS MEMBERSHIP IF THE WITHDRAWAL IS REVOKED BY THE SHAREHOLDERS’ MEETING appeared first on Studio Legale De Berti Jacchia Franchini Forlani.

An article in Fortune Italia explores the so-called "Russia Paradox": while global stock markets wobble under the impact of U.S. tariffs, Moscow holds steady. Interest in the Russian market is growing, including from Italian companies.

On the subject, Armando Ambrosio was interviewed and provided a clear analysis of the current complexities: on one hand, the renewed interest in exports; on the other, the challenges for those who remain or are considering disinvestment.

Exiting Russia is complex today. But staying also requires careful attention to constantly evolving regulations and sanctions: compliance, counter-sanctions, and international payments are just a few of the challenges that need to be managed.

In particular, Ambrosio explains:“It’s not easy to navigate through so many measures, and one must also take into account Russian counter-sanctions, which are often overlooked by Italian operators. Compliance with sanctions is becoming an increasingly complex and difficult matter to manage due to the implementation of new sanction packages that amend and integrate the previous ones”.

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