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.

Tutela più ampia per il creditore che propone la revocatoria di un atto con cui il debitore cede beni a un terzo.

I giudici hanno infatti via via esteso l’oggetto del sequestro conservativo che è possibile chiedere sui beni acquisiti dal terzo con l’atto oggetto di revocatoria.

Si tratta di un efficace strumento cautelare (peraltro di non frequente applicazione), disciplinato dall’ar- ticolo 2905, comma 2, del Codice civile, che appresta tutela anticipata al creditore che agisce in revocatoria.

Ne ha parlato Luca Pescatore nell’articolo “Azione revocatoria, si allarga la sfera del sequestro a favore dei creditori” pubblicato da Il Sole 24 Ore Norme & Tributi Plus Diritto di lunedì 27 maggio

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The post AZIONE REVOCATORIA, SI ALLARGA LA SFERA DEL SEQUESTRO A FAVORE DEI CREDITORI appeared first on Studio Legale De Berti Jacchia Franchini Forlani.

IN THE PRESS

Il Sole 24 Ore – De Berti Jacchia Rafforza Il Contenzioso

Legalcommunity – Luca Pescatore nuovo partner di De Berti Jacchia

Global Legal Chronicle – Luca Pescatore nuovo partner di De Berti Jacchia

TopLegal – Luca Pescatore diventa partner di De Berti Jacchia

ADVFN – Studi legali: Luca Pescatore entra come partner in De Berti Jacchia

NT+ Diritto – Luca Pescatore nuovo partner di De Berti Jacchia

TopLegal- Nomine e lateral (19 Ottobre 2023)

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