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Litigation & Arbitration Guide by Andersen in Europe – July 2023
The purpose of any legal dispute resolution procedure is to obtain an enforceable decision or award. This guide written by the European Andersen Litigation & Arbitration Group focuses on the common issues that arise when enforcing domestic judicial decisions in foreign jurisdictions. It explores the requirements for recognition and enforcement of judgments from one state […]
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11th package of the EU sanctions against Russia and Russian countermeasures
New EU regulations against the Russian Federation for the continuation of the war against Ukraine were adopted on 23 June 2023. The new restrictive measures focus on strengthening export controls and also provide for a new anti-circumvention mechanism for companies suspected of evading the bans. This article will provide an overview of the new restrictive […]
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CBAM: What’s new?
The Andersen European VAT & Customs Service Line recently published an in-depth study regarding the new Carbon Border Adjustment Mechanism (CBAM), the new regulation set to come into effect on a trial basis on October 1, 2023, and permanently from January 1, 2026. It aims to address carbon leakage by putting a price on carbon emissions […]
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Beyond the Hype: Real-World Applications of AI
The Andersen European Technology Industry Group, led by the partner Francesco Marconi, has recently launched a paper regarding the rapid growth of artificial intelligence (AI) and its impact on our daily and personal lives. For some time now, AI is no longer a futuristic concept. In fact, its applications find their way into a wide […]
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Litigation & Arbitration: Post M&A Disputes and Current Challenges
The closing of a deal can be a success for the teams involved, but it also rises up some challenges due to the constant uncertainty of what may happen next, the strategic nature of the transactions, and internal politics. The examples cited in this publication illustrate how, after a successful merger, critical issues and sometimes […]
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Further simplification measures on renewable energy sources
The Law Decree no. 13/2023, named Urgent “Provisions for the Implementation of the National Recovery and Resilience Plan (NRP)”, which came into force on Feb. 25, 2023 (published in GURI No. 47, 24.02.2023), introduced several new features concerning renewable energy sources, aimed at further simplifying and accelerating their development. Areas suitable for the installation […]
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Transfer Pricing year end adjustments
Depending on the given tax jurisdiction, if there is qualified ownership or control between enterprises belonging to a Multi-National Enterprise (“MNE”), the arm’s-length principle (“ALP”) kicks-in to determine proper transfer prices in cross-border intra-group transactions. Compensating adjustments (also “year-end adjustments” or “CAs”) are widely used by MNEs in order to align intragroup transfer prices or […]
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Andersen European Guide to Support Employers: remote work
The new edition of our European Guide to Support Employers, issued by the European Employment and Labour Andersen department, is devoted to remote work in Europe, a trend rapidly growing trend in the European job market. Although the concept goes back more than 50 years, and in some European countries the issue was first regulated […]
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New developments of arbitration in the civil procedure reform
The civil procedure reform has introduced some important innovations regarding arbitration in an attempt to make the institution stronger and more attractive to the parties. With the entry into force of Legislative Decree 149/2022, Italian arbitration law is expected to take a long-awaited step forward. The following is a summary of the main changes in […]
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Grant funding for Gender Equality
Regione Lombardia through the Regional Program FSR+ – Specific Objective ESO 4.3., Action c.1 Support for the dissemination of corporate welfare systems – is making available €10,000,000 in grants with the aim of incentivizing companies to adopt appropriate policies to reduce the gender gap in all the areas of greatest criticality – such as career […]
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European Corporate Insights: M&A Opportunities in the Energy Sector
The energy sector has been one of the main players in the field of M&A in recent years due to the growing interest in renewable energies which, although in 2020 it contributed 9% of the energy consumed in Europe – compared to 14% from nuclear energy and 77% generated by oil, gas and coal -, […]
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The M&A market in Europe: 2022 and expectations
In 2021, the mergers and acquisitions (M&A) market in Europe exceeded all expectations, setting a record that will be hard to beat. The circumstances were indeed favorable: after a pandemic in which the economy suffered an unexpected halt, factors such as economic growth due to the return to activity, the need for companies to adapt […]
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Sustainable Economy: the European Parliament approves the Corporate Sustainability Reporting Directive (CSRD)
On November 10, the European Parliament approved the Corporate Sustainability Reporting Directive (CSRD), which obliges large EU companies to regularly publish their information on the societal and environmental impact, planet, and sustainability risks. This should reduce greenwashing and promote international and transparent ESG standards. The new CSRD will start applying between 2024 and 2028 depending […]
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Litigation & arbitration service line newsletter: rebus sic stantibus and force majeure clause
The new edition of the Litigation & Arbitration service line newsletter is dedicated to extraordinary change in economic relations, with a special focus on Belgium, Germany, Hungary, Italy, Macedonia, Malta, Poland, Romania, Slovenia, Spain and Switzerland situations. In this publication, we address two constructs that will be the most common basis for legal claims: the […]
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European Commission’s Carbon Border Adjustment Mechanism
European Commission’s Carbon Border Adjustment Mechanism, in fight against climate change and related unfair competition, will impact importing in the EU as from 2023 The Carbon Border Adjustment Mechanism (CBAM) is a levy on carbon intensive products (e.g. cement, iron, steel, aluminium, fertilizers and electricity) imported into the European Union from third countries where carbon […]
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Renegotiation according to good faith
The pandemic phenomenon due to the spread of the Sars-Cov-2 virus, first, and the war in Ukraine, then, affected, respectively, the healthcare and humanitarian aspects, having, as the lowest common denominator, the ability to change the legal and economic context at a global level. If, during the pandemic period, an economic crisis ensued as a […]
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Data Protection Board: green light for a centralised anti-money laundering database
The Data Protection Board issued a positive opinion on the amendment that has been presented to Legislative Decree no. 231/2007 on the prevention of the use of the financial system for the purpose of money laundering and terrorism financing. In particular, the proposed amendment supported by the Data Protection Board envisages the establishment of a […]
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The ad nutum withdrawal of a LLC shareholder: unlawful if the company is established for a fixed term, even if the term is particularly long
Supreme Court of Cassation, September 5, 2022 – order No. 26060. A LLC shareholder may withdraw ad nutum and, therefore, at any time and with no reason, solely when the company is established for an unlimited term. The appealed verdict A limited liability company, incorporated until 2050, appealed to the Court of Cassation against the […]
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The changes introduced by Decree no. 73/2022 in the so called “third sector”
With the so called “Simplifications” Decree no. 73/2022 the taxation system for “third sector” entities changed. The new taxation system The main changes introduced by the Simplifications Decree concern the taxation rules contained in Title X of the third sector code. More precisely, a definition of “actual costs” has been included under Article 79, paragraph […]
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The right of withdrawal exercited by the shareholder who did not partecipate in the change of the clause limiting the circulation of shares is legitimate
Supreme Court of Cassation, June 27, 2022, No. 20546. A shareholder of a joint stock company who did not participate in the amendment of the bylaws to remove the preemption clause limiting the circulation of shares has the right of withdrawal, regardless of the substantive significance of the amendment. This is the principle expressed by […]
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