16.04.2020

CAPITAL MARKETS | New amendments to Article 120, TUF and new enhanced transparency requirements for major shareholding variations and declarations of intent

In order to limit the negative effects that the COVID-19 epidemiological emergency is producing on the Italian economy, on 8 April 2020 Decree-Law No. 23/2020 was published in the Official Gazette of the…

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15.04.2020

GERMANY | FINANCE, RESTRUCTURING & INSOLVENCY | Overview of all support measures of the federal government and each individual federal state

This article provides an overview of existing and planned federal and state financial support measures. The article also contains direct links to the relevant authorities and banks and is updated…

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14.04.2020

ART | During the exhibition the Gallery will be closed: the Nctm ArTeam at service of artists and gallerists.

[IMPORTANT NOTE: This document aims to provide a first simple illustrative guide to the recent regulatory changes, not providing a legal opinion. It is updated on 6 April 2020 at 5 pm. Considering that the…

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14.04.2020

CAPITAL MARKETS | COVID-19: Consob issues operational guidelines to the market with regard to financial information, prospectuses and audits

On 9 April 2020, by warning notice No. 6/2020 (“Notice”), Consob provided the market with some operational guidelines on financial information to be provided in periodic reporting documents and…

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14.04.2020

CAPITAL MARKETS | COVID-19: Consob issues operational guidelines to the market on how to conduct shareholders' meetings

On 10 April 2020, by communication No. 3/2020 (“Communication”), Consob provided the market with some operational guidelines on how to conduct ordinary and extraordinary shareholders' meetings. The…

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10.04.2020

RESTRUCTURING & TURNAROUND | Law Decree No. 23/2020 – emergency provisions in insolvency

Law Decree No. 23 of 8 April 2020 (the "Decree") sets some emergency provisions regarding insolvency procedures, among others. In a nutshell, these concern: 1. entry into force of the new Insolvency…

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10.04.2020

CORPORATE & COMMERCIAL | The impact of the state of emergency resulting from COVID-19 on certain corporate law principles – Focus on the temporary changes provided in Decree Law no. 23 of 8 April 2020

[IMPORTANT NOTE: This document is updated as at April 9, 2020 at 3:00 p.m. given that the state of emergency and the related regulatory framework are constantly evolving on a daily basis, the contents of…

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10.04.2020

MERGERS & ACQUISITIONS | Golden Powers: limitations on foreign direct investments in companies operating in strategic sectors

Law-Decree No. 23 of 8 April 2020 has significantly extended, albeit on a temporary basis, the Government's veto and policy-making powers (“Golden Powers”) that can be exercised when "strategic" companies…

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09.04.2020

BANKING & FINANCE | Liquidity Decree: SACE guarantee and strengthening of SME Guarantee Fund to face COVID-19 emergency

In order to address the lack of liquidity that is affecting the entire productive system of the country as a direct consequence of the economic crisis resulting from the COVID-19 pandemic and the lockdown…

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09.04.2020

GERMANY | MERGERS & ACQUISITIONS |Company Acquisition in times of Corona Strengthen your own Position, Exploiting the Opportunities offered by M&A activities Planning now is the smart thing to do

The corona crisis is currently causing great uncertainty in the market. No one can anticipate how long the crisis will last and how much the global economy will be affected despite unprecedented government…

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06.04.2020

ADMINISTRATIVE | REAL ESTATE | “Cura Italia” Decree: requisition of real estate property

The method adopted in South Korea to stem the spread of the COVID-19 virus shows that, among other measures, it is necessary to ensure the isolation - until the end of the emergency - of people tested…

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01.04.2020

CORPORATE & COMMERCIAL | COVID-19: issues of concern to businesses in the field of personal data protection*

*IMPORTANT NOTE: this memorandum is updated as of 31 March 2020 at 1 pm. Since the state of emergency and the related regulatory framework are constantly evolving every day, the contents of this memorandum…

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