Orsingher Ortu – Avvocati Associati
Most Read: Contributor Italy, November 2023
Italy:
Italian Supreme Court On Shareholder's Objection To Bankruptcy Agreement
07 November 2023
Orsingher Ortu – Avvocati Associati
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On 24 October 2022, the Italian Supreme Court issued judgment No. 31402/2022, ruling on the
shareholder's legal standing to object to the approval of a
bankruptcy arrangement pursuant to article 129 of Royal
Decree No. 267 of 16 March 1942 (the "Bankruptcy
Law"). The Court confirmed the principle already upheld
by previous case law, according to which shareholders are not
entitled to file an objection to the approval of a bankruptcy
arrangement unless they point out the concrete negative impact that
the solution offered would have on their substantial interest
(i.e., realising the value of their shareholding, through
liquidation).
Originally published by March, 2023
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