Jones day italy 14 of January 12, 2019 (the “Code”), providing for the reform of Italian insolvency proceedings and an almost complete rewriting of the 1942 bankruptcy law (the “Bankruptcy Law”), in line with the guidelines of the new European directive no. The Legal 500 EMEA (2010-2012), Banking The Situation: Under the new Italian framework, class actions will no longer be limited to consumer protection matters, and collective redress may be sought through simplified proceedings. The ICA now has increased the first threshold, relating to the Italian combined turnover of all the undertakings concerned, to € 495 million (which before was €492 million). 231 of June 8, 2001 ("Decree No. Insights by Jones Day should not be construed as In Short. Jones Day's most recent entry to Germany, the Düsseldorf Office serves the local business community, Italy, Spain, the Netherlands, Belgium, Asia, and Australia. He advises on purchases, sales, lets, developments and joint ventures on a regular basis. Chambers Global — Projects (2011-2024). View ranked office. This type of class action Jones Day provided advice to ING Bank, Milan branch, as mandated lead arranger, agent, green structuring coordinator, and original lender, in relation to two facilities agreements executed with PATRIZIA, for the financing of the acquisition of two logistic assets (Building A and Building B) located in the same area of Mantua (Italy). 231/01") for crimes committed in their interest, or for their benefit, in Italy by their senior managers or Marco fa parte dell’Advisory Committee di Jones Day ed è un Trustee della Jones Day Foundation, April 22, 2004 Italian Tax Reform: Future Environment for the International Financial Community; March 24, 2004 Seminar on Legal Audit in the Sarbanes-Oxley Act, University of Bologna; Italy Implements the First Consumers' Collective Interests Representative Action The Italian transposition of the EU Directive 2020/1828 on representative actions by means of Legislative Decree no. It is well versed in town planning and fund formation for domestic and cross-border portfolios. Jones Day White Paper The Italian government recently enacted legislative decree no. Best Lawyers® compiles its listings at the conclusion of a months-long peer review process, during which its researchers ask leading attorneys from specific practices and geographic regions about the Three Key Takeaways. com Seminar on International Sports Law and Tax Issues, reporter for Italy; April 22, 2004 Italian Tax Reform: Future Environment for the International Financial Community; March 24, 2004 This Jones Day Talks series on private antitrust litigation is focused on how regulatory changes have led to increased enforcement actions across Europe. After publication of the law in the Official Italy Implements the First Consumers' Collective Interests Representative Action The Italian transposition of the EU Directive 2020/1828 on representative actions by means of Legislative Decree no. The contents are intended for The Italian Supreme Court, in a decision of April 2020, upheld significant prior lower court decisions. Additional Speaking Engagements. Insights by Jones Day should not be construed as The Agency for Digital Italy (Agenzia per l'Italia Digitale, "AgID") will set by mid-May 2019, the technical standards for DLTs suitable for producing the same legal effect of an electronic timestamp pursuant to EU Regulation 910/2014 (or, the eIDAS Regulation) in respect of any digital document stored thereon. The DPA confirmed that employers may not collect, either directly or indirectly (including through healthcare professionals), any Jones Day clients don't "belong" to individual partners, or even particular offices or practices. In Italy, companies' administrative Insights by Jones Day should not be construed as legal advice on any On January 19, 2017, the Italian legislature passed Legislative Decree No. Litigation (of any nature) will resume on April 16, 2020, but until June 30, 2020, courts may use enhanced e-trial tools to ensure the continuance of both ongoing and prospective proceedings. 775 billion. 206/2005 and subsequent amendments). The Republic of Italy: acted for the claimant in an ICSID arbitration against Italy that was initiated pursuant to the Energy Charter Treaty and concerned the government's change in policy towards the solar industry. real estate Companies Real estate companies are special purpose vehicles carrying out the purchase, management, leasing, building, and sale The Italian Insolvency Code—A Work in Progress: Timing and News The Italian government has postponed again the entry into force of Legislative Decree No. 57 billion Jones Day is advising TotalEnergies in the €1. Madrid. Under the current regulatory regime, disclosure is required when certain thresholds are exceeded for ownership of voting shares and physically settled equity derivatives of Italian Class actions in Italy are a recent introduction. On October 13, 2017, CONSOB (the Italian securities market regulator) issued a set of long-awaited Guidelines aimed at providing Italian listed issuers operational guidance and best practices regarding the proper implementation of the Margherita Farina represents international and domestic companies before international arbitral tribunals and Italian Courts in proceedings on the merits and in urgent measures in commercial matters, including post-M&A claims (R&W breaches JONES DAY TALKS®: Class Actions Worldview Guide: Part 1–The United States and European Union. Clients additionally benefit from the firm’s enviable global network. 2007 Revisione e Controllo Interno nel Sarbanes - Oxley Act e nella "Legge sul Risparmio, (Auditing and Internal Control under the Sarbanes - Oxley Act and the new Italian Law on Saving), AFC - Nevertheless, the public prosecutor sought to hold the Google executives, none of whom were based in Italy, criminally liable for privacy violations due to Google's failure to exert a preemptive screening of the video prior to hosting it on the Google Video web site. Best Lawyers® compiles its listings at the conclusion of a months-long peer review process, during which its researchers ask leading attorneys from specific practices and geographic regions about the Italian COVID-19 legislation, with the aim of keeping companies alive by providing them with a short-term alternative to dissolution, provides for the suspension of (i) certain directors' obligations triggered by substantial corporate capital losses, and (ii) the possibility, until June 30, 2020, to file for the opening of new bankruptcy proceedings. The size of NPL portfolios owned by Italian banks is estimated to be roughly The modernization of Italian intellectual property law continues and is now closer to the European standards after the introduction of an opposition procedure against applications for new trademarks. Paolo Foppiani, who heads the real estate practice, is widely experienced in assisting clients in the real estate sector. Milan + 39. Nearly 320 lawyers advise on the full range of complex cross-border financial transactions, regulatory matters, investigations, and litigation. The action was prompted by a pair of separate transactions involving two The Situation: Recent foreign investments in Italian blue chips led the Italian government to intervene to protect strategic assets. 50, dealing with, among others, securitization regulations. The Constitutional Reform aims to amend Articles 9 and 41 of the Constitution. The Firm is distinguished by a singular tradition of client service; the mutual commitment to, and the seamless collaboration of, a true partnership; formidable legal talent across multiple disciplines and jurisdictions; and shared professional values that focus on client needs. Among these, the most relevant are the following: On May 6, 2011, the regulator of the Italian financial markets, Consob, requested public comments on amendments to the current disclosure requirements for stock ownership in Italian listed companies. Concertgebouwplein 20 , Amsterdam, North Holland, Netherlands, 1071 LN. The New Thresholds The amended text of Article 16 (1) of Law No Jones Day is a legal institution with more than 2,500 lawyers on five continents. A’s Italian decontamination and sterilization services business unit to Servizi Italia. 208 of December 2015 ("the Budget Law"), passed by the Italian Parliament on December 22, 2015, repealed Italy’s tax "blacklist" rules. 18 of March 17, 2020 (the "Cura Italia Decree"), the Italian Government recently enacted the Law Decree No. At the time of writing, the Italian Parliament has approved changes to the law that are meant to align the Italian merger control In the Italian public enforcement matter La Roche-Novartis v. Published in the Italian Official Gazette on December 9, 2021, the Enabling Act officially entered into force on Italy recently enacted a new insolvency code (the "New Insolvency Code"), which takes effect August 14, 2020. Antitrust Authority, the State Council (the administrative court of second instance, which has exclusive jurisdiction on antitrust cases) recently issued a hallmark decision (4990/2019) addressing a long-debated thorny issue: the breadth of the administrative court's judicial review of the facts underlying antitrust Experience; Peabody acquires Tier 1 Australian metallurgical coal assets from Anglo American Jones Day is advising Peabody in the pending acquisition of significant Tier 1 Australian Metallurgical coal assets from Anglo American plc for a cash consideration of up to US$3. The Background: On December 30, 2016, the Italian government approved Legislative Decree No. in relation to the new securitization transaction of auto loans originated in Italy by Santander Consumer Bank S. 18 of March 17, 2020 ("Decree") implementing a number of financing transaction-related measures designed to mitigate the adverse economic impact of COVID-19. From that date onward, Providers must enroll in the Register to carry out business in Italy and, as a result, implement ad hoc policies and procedures to ensure compliance with the new Italian legal On February 14, 2016, the Italian Government approved the law decree (" decreto-legge " or the "Decree") that regulates, inter alia , the release of a guarantee by the Italian Government for non-performing loan ("NPL") transactions. The Italian Supreme Court, in a decision of April 2020, upheld significant prior lower court decisions. The New Insolvency Code sets up, inter alia, (i) a new preemptive restructuring framework; (ii) new rules encouraging new and interim financings by both lenders and equity holders whose claims can be satisfied with priority over both secured and In Short. In the Italian public enforcement matter La Roche-Novartis v. , a Luxembourg investment vehicle managed by M&G Investment Management Limited, of consumer credit portfolios originated by Younited Credit S. Amsterdam. At the time of writing, the Italian Parliament has approved changes to the law that are meant to align the Italian merger control Experience; Macquarie acquires Ziton Jones Day is advising Macquarie European Infrastructure Fund 7 SCSp, a fund advised by Macquarie Asset Management, on its acquisition of Ziton A/S. Paseo de Recoletos 37-41 The Italian Government recently enacted the law decree No. Registered address: 188 Fleet Street, London, EC4A 2AG On October 18, 2020 Italy adapted its civil procedure rules to incorporate the European Account Preservation Order ("EAPO") (introduced by EU Regulation 655/2014, in force since January 2017 ("the Regulation")) as an additional protective measure in favor of creditors. 28/2023 ("Representative Action") will create a "new deal for consumers" package and provide them with broader redress rights across a wide range of sectors. The Result: Decree 148/2017 introduced new disclosure requirements regarding stakebuilding in Italian listed issuers and strengthened the Italian government's "golden powers" in relation to foreign investment in strategic industries. Traditionally, according to the Italian system, a group of individuals whose rights were allegedly violated by the behavior of a Jones Day supports clients across the spectrum of real estate-related matters. . In order to obtain relief, each of them had to bring separate actions, which caused disadvantages such as the risk of conflicting Jones Day's capital markets team in Italy stands out for its substantial pan-European securitisation practice. Four Key Takeaways. View the law firm's profile for reviews, office locations, and contact information. Visit Chambers and Partners to find out more. The Situation: Over the last year, the Italian Competition Bill (Law 287/1990) has undergone a significant number of amendments aimed at strengthening the enforcement powers of the Italian Competition Authority ("ICA"). Such changes fall Jones Day White Paper INVESTMENT ENTITIES Real estate investments in Italy are mainly carried out via one (or a combination) of the following types of investment vehicles . In the fourth installment in our series of programs on the private enforcement of competition law in European jurisdictions, Jones Day partners Mario Italy Implements the First Consumers' Collective Interests Representative Action The Italian transposition of the EU Directive 2020/1828 on representative actions by means of Legislative Decree no. 14 dated 12 January 2019 (the "Insolvency Code"), taking into account the COVID-19 impact on the socio-economic scenario and the framework set forth by Directive (EU) 2019/1023. The Italian NPL market is entering into a new transactions spree in 2016. Clients additionally benefit from the firm’s enviable global network. 3/2017 (the " Decree ") to address private damage actions arising from competition law violations. 8 In Short The Situation: The Italian Parliament recently approved the Conversion Law of Decree no. The transaction was carried out by the securitisation company Private Driver Italia Italy recently enacted a new insolvency code (the "New Insolvency Code"), which takes effect August 14, 2020. April 15, 2020, currently marks the last day of litigation (of any nature) suspension in Italy. 254/2016 implementing EC Directive 2014/95/EU on the disclosure of nonfinancial and diversity information by certain large undertakings and groups. As confirmed by the EU Commission, the guarantee released by the Italian Government would not constitute a state aid, subject to the terms set Jones Day White Paper INVESTMENT ENTITIES Real estate investments in Italy are mainly carried out via one (or a combination) of the following types of investment vehicles . At the time of writing, the Italian Parliament has approved changes to the law that are meant to align the Italian merger control In Short. Integrity, collaboration, and respect where teamwork is essential, the norm, and shared for a job well done. As a result, Italian/European Union ("EU") insurance companies, alternative investment funds, and securitization vehicles may now lend into Italy. Netherlands. p. 89 per ordinary share. Read more. Italy has overhauled its national class action framework, expanding its scope of application beyond mere consumer protection, in an attempt to create a class-action-friendly environment that may pave the way to an increasing number of class actions starting in 2020. EDF now holds in excess of 80% of the shares of Edison after completing its acquisition of Delmi's shareholding for €784 million and will launch a mandatory tender offer for the remainder of Edison's shares at €0. 91 of June 24, 2014 (the “Law Decree”), which introduced new measures aimed at ensuring the country’s future sustainability and growth. October 21 - 22, 2004 Sportsandtaxation. e. The New Insolvency Code sets up, inter alia, (i) a new preemptive restructuring framework; (ii) new rules encouraging new and interim financings by both lenders and equity holders whose claims can be satisfied with priority over both secured and The firm: Jones Day is a global law firm with more than 2,400 lawyers in 40 offices across five continents. The Situation: The COVID-19 pandemic is having an impact on businesses across various sectors in Italy. This new procedure is quicker and less expensive than opposition proceedings before a court and will be handled by the Ufficio Italiano Brevetti e Marchi</I> (<I>i. Jones Day’s Latin American experience extends to mergers and acquisitions, investigations and anti-corruption, projects and infrastructure, banking and finance, energy, dispute resolution, Jones Day's capital markets team in Italy stands out for its substantial pan-European securitisation practice. The overall deal value is approximately €3. The 2025 edition of The Best Lawyers in Italy™ has recognized four Jones Day lawyers across three different areas of practice from Jones Day's Milan Office. The securitization has been structured in accordance with Law 130/1999 (the Italian securitization law) and in compliance with requirements of The Italian Government recently enacted the law decree No. 57 billion (equity value) acquisition of VSB Group, a Germany based renewable energy developer and operator of wind farms and photovoltaic power plants in Germany, France, Italy, Poland, Finland, and Croatia, from Swiss asset manager Partners Group. 231/01") for crimes committed in their interest, or for their benefit, in Italy by their senior managers or Italian law also provides a set of specific rules governing competing offers. S. Lawyers joining Jones Day in Italy start or further their careers with a dynamic firm that provides ample opportunity to acquire the full array of skills and experience required to serve the needs Jones Day is committed to community service in Milan. Published in the Italian Official Gazette on December 9, 2021, the Enabling Act officially entered into force on Discover where the Jones Day Milan Office is ranked in the Global guide. Find the national committee closest to you. Group head Vinicio Trombetti is an expert in securitisation work and covered bonds; and Francesco Squerzoni acts for originators, arrangers and investors on structured finance transactions. Practice: Financial Markets. In May, Jones Day published a Commentary discussing recent developments related to class actions in Italy. Jones Day obtained a decisive victory for Banca d’Italia, the Italian central bank, in its successful defense against the European Commission's appeal before the European Court of Justice (“ECJ”) of the General Court’s (“GC”) judgment in favor of Banca Tercas. Proceeds paid to non-Italian resident investors (without a permanent establishment in Italy to which the units of REIFs are effectively connected)—as This Commentary touches on the main characteristics of the civil compensatory class action and then compares them with the public class action. Best Lawyers® compiles its listings at the conclusion of a months-long peer review process, during which its researchers ask leading attorneys from specific practices and geographic regions about the Client(s) Trade association Jones Day represented and defended a leading trade association in the construction industry in administrative investigations and appeal court proceedings against a fine issued by the Italian antitrust authority on the ground of The Italian Competition Authority ("ICA") annually amends the turnover thresholds for notification of transaction based on the gross national product price deflator index. As part of this program, the Italian Council of Ministers enacted Law Decree No. </p> <p><b>Looking Ahead: </b>The new In Italy, companies' administrative (quasi-criminal) liability has now been extended to certain criminal tax offenses. Partner. com. We represent members in more than 170 countries across the world. The lawyer rankings include 10 Hall Jones Day’s more than 1,600 lawyers across its 18 U. The firm is distinguished by: a singular tradition of client service; the mutual commitment to, and the seamless collaboration of, a true partnership; formidable legal talent across multiple disciplines and jurisdictions; and shared professional values that focus on The Italian Supreme Court ("Supreme Court" or "Court") recently had the opportunity to have its say, for the second time, concerning the scope of the jurisdiction clause favoring English courts and contained in International Swaps and Derivatives Association ("ISDA") Master Agreements. We provide pro bono support and advice to major Italian nonprofit organizations that are active in the protection of women's and children's rights and of disadvantaged families. Update: Italian Bankruptcy Reforms SUBSCRIBE SUBSCRIBE TO RSS Jones Day is a global law firm with more than 2,500 lawyers on five continents. The Situation: For years, the Italian tax system has provided for certain tax deductions from income taxes in case of building restoration works. Italian DPA Urges Employers to Avoid Unlawful Data Collection Following the Spread of Coronavirus On March 2, 2020, the Italian Data Protection Authority ("Italian DPA") issued a press release providing guidance to employers in relation to the treatment of employees' personal data in the wake of the spreading of the novel coronavirus disease (COVID-19) in Italy. The Result: On March 8 and 9, 2020, the Italian government issued two Presidential Decrees imposing certain temporary movement Jones Day is advising STERIS Plc in the sale of STERIS S. The Situation: The spread of the novel coronavirus (COVID-19) has led to the Italian government enacting certain extraordinary measures aimed at curbing the pandemic and which pose several challenges for Italian listed issuers. Antitrust Authority, the State Council (the administrative court of second instance, which has exclusive jurisdiction on antitrust cases) recently issued a hallmark decision (4990/2019) addressing a long-debated thorny issue: the breadth of the administrative court's judicial review of the facts underlying antitrust Welcome to the 2019 edition of the Jones Day Anti-Corruption Regulation Survey of Select Countries. disClOsuRE ANd ANTifRAud pROvisiONs Italian law sets forth a number of disclosure requirements and antifraud provisions relating to the tender offer process. The Italian Ministry of Finance issued a Decree amending the list of countries that are deemed to allow for an adequate exchange of information with Italy. The Result: Under the new rules, starting with fiscal year 2017, public interest entities shall draw up a In Short. Italy recently enacted a new insolvency code (the "New Insolvency Code"), which takes effect August 14, 2020. , Italian Branch, for a total maximum value of The Italian budget law for 2016, Law n. Class actions in Italy are a recent introduction. Jones Day is a global law firm with more than 2,500 lawyers across five continents. Jones Day supports clients across the spectrum of real estate-related matters. The Action: Further to the Law Decree No. As part of such new measures, the Law Decree introduced significant changes to certain corporate and capital market rules applicable to both listed and private Jones Day assisted Volkswagen Bank in connection with a new Italian securitisation transaction related to car loans provided by Volkswagen Bank - Italian Branch. " Traditionally, Italian case law has stretched the notion of "landscape" Best Lawyers (2014-2025) — Project Finance and Development Practice and Energy Law (2022-2025). </I>, the The 2024 edition of The Best Lawyers in Italy™ has recognized four Jones Day lawyers across three different areas of practice from the Firm's Milan Office. ; Chevron acquires 25 fuel retailing sites in South Australia Jones Day advised Chevron The 2024 edition of The Best Lawyers in Italy™ has recognized four Jones Day lawyers across three different areas of practice from the Firm's Milan Office. 91 of June 24, 2014 (the "Law Decree"), [1] which introduces new measures, including tax ones, aimed at facilitating the access to financing by The Italian Supreme Court, in a decision of April 2020, upheld significant prior lower court decisions. Breakthrough in Italian Cryptocurrency Regulation: Statutory Registration for Providers and Exchangers The Italian Ministry of Economy and Finance ("MEF") issued a new decree ("Decree") requiring that virtual asset/currency service providers promptly enroll in a soon-to-be established special section of the register held by Organismo Agenti e Mediatori The following represents experience acquired prior to joining Jones Day. Vinicio Trombetti. Today's program examines the situation in Italy as we talk with Jones With the new year, a set of tax measures for corporate taxpayers, mainly enacted with the budget law for 2017, which was approved by the Italian Parliament on December 7, 2016 (the "2017 Budget Law"), become effective in Italy. Best Lawyers® compiles its listings at the conclusion of a months-long peer review process, during which its researchers ask leading attorneys from specific practices and geographic regions about the Client(s) Intrum Italy S. Spain. In Short. 5 million public offering of Common Stock Jones Day advised VSE Corporation, a leading provider of aftermarket distribution and repair services, in the $200 million acquisition of Kellstrom Aerospace Group, Inc. Why Join Jones Day? Limitless opportunities to experience different areas of law, and lawyering styles before committing to a practice. The Result: The Court upheld the consumer's class action claim regarding the unlawful advertising of a medical device. 140bis of the Italian Consumer Code (Legislative Decree n. The Frankfurt Office is conveniently located in the center of the city, adjacent to the Frankfurt Stock Exchange. Jones Day has a law office located in Milan, Italy. This law, effective as of February 3, 2017, implements the EU Directive 2014/104/EU (the " Directive ") to establish standard procedures and remove practical obstacles for compensating victims of antitrust The Italian Government recently enacted the law decree No. ("Edison"). 2423756 VAT 324572722. Chambers Europe — Projects (2008-2024). 3 million, through the special purpose vehicle "Pulse UK 2024 plc". LATEST INSIGHTS & NEWS December 23, 2024 White Paper. Such changes fall along the same lines as those introduced by the budget law for 2019 (the "Budget Law") with the aim of fostering securitization schemes in the Italian In Short. The new Italian law In the last few years, Italy has embarked on a program of economic and financial reforms to ensure the country's future sustainability and growth. Antitrust Authority, the State Council (the administrative court of second instance, which has exclusive jurisdiction on antitrust cases) recently issued a hallmark decision (4990/2019) addressing a long-debated thorny issue: the breadth of the administrative court's judicial review of the facts underlying antitrust Pursuant to the Circular and the Decree, the Register will become operational on May 16, 2022, with a 60-day grandfathering period for Providers already active in Italy. 231/01") for crimes committed in their interest, or for their benefit, in Italy by their senior managers or Experience; Arval UK Limited completes first securitisation of UK corporate and consumer auto leases Jones Day acted as legal adviser of Arval UK Limited, as seller, in connection with its first securitisation of English law corporate and consumer auto lease receivables having a nominal value of £402. This system did not apply to criminal tax offenses. Disclaimer: Jones Day Breakthrough in Italian Cryptocurrency Regulation: Statutory Registration for Providers and Exchangers The Italian Ministry of Economy and Finance ("MEF") issued a new decree ("Decree") requiring that virtual asset/currency service providers promptly enroll in a soon-to-be established special section of the register held by Organismo Agenti e Mediatori In the Italian public enforcement matter La Roche-Novartis v. District Court for the Northern District of Georgia indicted her nearly ten years ago for her alleged participation in a Jones Day White aper investment entities Real estate investments in Italy are mainly carried out via one (or a combination) of the following types of investment vehicles. 02. Jones Day advised Intrum Italy S. 130 of 30 April 1999 ("Law 130"). The transaction was carried out by the securitisation company Private Driver Italia Find a local contact. The Action: The Italian government recently enacted the Law Decree No. Italian authorities apprehended Ullings, a Dutch national, visiting Sicily in July 2019. 34 of 2019 ("Law Decree") providing for, inter alia, important changes to the Italian securitization law No. Qualified lenders may lend into Italy based on Italian Prime Minister Mario Monti's governmental decree on liberalization has recently become law, introducing a number of changes to the Italian antitrust and competition rules that had been originally laid down by the office of the Italian Antitrust Authority ( Autorità Garante della Concorrenza e del Mercato , or "AGCM") at the time when Antonio Catricalà, In Short. It primarily focused on the so-called "compensatory" class action ("azione di classe risarcitoria") provided for by Art. offices collaborate to serve clients across practices and geographies on all major matters that Italy, 20121. Insights by Jones Day should not be construed as The Italian legal framework provides for the administrative (quasi-criminal) liability of companies for certain criminal offenses committed by their directors, executives, and employees in the interest, or for the benefit, of the companies. The Situation: The coronavirus (COVID-19) pandemic is having an impact on businesses across various sectors in Italy. REAL ESTATE COMPANIES Real estate companies are special purpose vehicles carry-ing out the purchase, management, leasing, building, and sale In Short. Each of the financings are labeled as "Green Loan" Jones Day advised Santander Consumer Bank S. In Short The Background : On August 2, 2017, the Italian Parliament approved the Law on Market and Competition, which provided a new set of pre-merger filing thresholds. The contents are intended for Real estate investments in Italy are mainly carried out via one or a combination of various types of investment vehicles. The New Insolvency Code sets up, inter alia, (i) a new preemptive restructuring framework; (ii) new rules encouraging new and interim financings by both lenders and equity holders whose claims can be satisfied with priority over both secured and . All rights reserved. 23 of April 8, 2020 (the "Liquidity Decree"), implementing a number of additional measures The role of "persons in charge for the processing" has been reintroduced, even though the appointment is now voluntary and no longer mandatory. December 16, 2024 Newsletters The tax regime of Italian permanent establishments of non-Italian residents for the income attributable to such permanent establishment is similar to the one applicable to Italian residents. The Result: The tax deduction from income taxes has now been increased to 110% in case of energy and anti-seismic works on existing buildings. Concluding a process started during the summer of 2014, the Italian legislature has completed a set of measures governing direct lending by nonbanking institutions. Published in the Italian Official Gazette on September 12, 2014, the Decree officially entered into force on September 13, 2014. Italy Implements the First Consumers' Collective Interests Representative Action The Italian transposition of the EU Directive 2020/1828 on representative actions by means of Legislative Decree no. 206 providing for the historic reform of the Italian civil justice process (the "Enabling Act"). Best Lawyers® compiles its listings at the conclusion of a months Discover where the Jones Day Milan Office is ranked in the Global guide. The transaction was carried out by the securitisation company Private Driver Italia Italy is one of the frontrunners in the implementation of the EU Representative Action Directive, while Spain entitles third parties or groups of affected people to bring Collective Actions. The Situation: In the framework of the European plan "Next Generation EU," on November 26, 2021 the Italian Parliament passed the law no. Experience; TotalEnergies acquires VSB Group for €1. Italy is one of the frontrunners in the implementation of the EU Representative Action Directive, while Spain entitles third parties or groups of affected people to bring Collective Actions. Ziton is headquartered in Denmark and indirectly owns and operates a fleet of jack-up vessels designed for servicing large offshore wind turbines, and it offers turnkey services that cover Jones Day assisted the SME lending platform October and Intesa Sanpaolo, as senior investor of the asset-backed notes, in the context of a €200 million financing of State Guaranteed Loans for Italian SMEs through the direct lending French FFS licensed as ELTIF (European Long Term Investment Fund) named “October Italian SME Fund 1” and the issuance of ABS Notes by a Jones Day assisted Volkswagen Bank in connection with a new Italian securitisation transaction related to car loans provided by Volkswagen Bank - Italian Branch. 18 of February 14, 2016 (the "Law Decree"), [1] > which, <i>inter alia</i>, completed the set of "level one" rules applicable to Jones Day assisted Volkswagen Bank in connection with a new Italian securitisation transaction related to car loans provided by Volkswagen Bank - Italian Branch. , having a nominal value of approximately €1 billion. Jones Day is a firm serving Milan, in Antitrust, Competition Law and Banking Law cases. Middle eastern company defends against complex multi-party arbitration proceedings Jones Day represents a middle-eastern engineering company in an ICC arbitration commenced by a middle eastern University of Paris I-Panthéon Sorbonne (Master 2 2008); University of Florence, Italy (Double degree in French and Italian Law 2007) Bar On May 13, 2021, the Italian DPA issued guidelines on data protection rules applying to COVID-19 vaccinations at the workplace that can be organized by employers in accordance with a national protocol on workplace vaccinations adopted on April 6, 2021. 183 of December 31, 2020 ("Milleproroghe Decree")—as further explained by the press releases issued by Bank of Italy and Consob on January 2, 2021—provides for a "grace period" until June 30, 2021, for UK Financial Institutions, provided that a request to operate in Italy had been submitted to the relevant In Short The Situation: On January 31, 2018, the Italian Supreme Court ruled on the first Italian product-related class action promoted by a consumers' association. Best Lawyers® compiles its listings at the conclusion of a months-long peer review process, during which its researchers ask leading attorneys from specific practices and geographic regions about the Last week, Italian authorities extradited the former senior vice president of Cargo Sales and Marketing with Martinair Cargo, Maria Christina Ullings. Martindale-Hubbell provides the office's address, phone number, website, and hours. Since the 2017–2018 edition of this Survey, there has continued to be an increasing awareness among In Short. Sovereign wealth fund v. REAL ESTATE COMPANIES Real estate companies are special purpose vehicles carry-ing out the purchase, management, leasing, building, and sale Real Estate Partner at Jones Day · Esperienza: Jones Day · Località: Milano · Più di 500 collegamenti su LinkedIn. The New Insolvency Code sets up, inter alia, (i) a new preemptive restructuring framework; (ii) new rules encouraging new and interim financings by both lenders and equity holders whose claims can be satisfied with priority over both secured and The 2025 edition of The Best Lawyers in Italy™ has recognized four Jones Day lawyers across three different areas of practice from Jones Day's Milan Office. In order to obtain relief, each of them had to bring separate actions, which caused disadvantages such as the risk of conflicting Jones Day advised Electricité de France SA ("EDF") in the acquisition of Edison S. 7645. In this Update, we review: (i) key changes to merger regimes in Austria, Belgium, The Action: Article 22 of Italian Law Decree No. Registered company in England & Wales No. Read More . In convicting the executives, the assize court found the executives culpable for Google's failure to inform This Jones Day Global Merger Control Update highlights significant recent developments and changes in merger control regimes. Within 60 days of publication, the Italian Parliament must convert the Italy Implements the First Consumers' Collective Interests Representative Action The Italian transposition of the EU Directive 2020/1828 on representative actions by means of Legislative Decree no. Such changes will remove significant limitations of doing business with previously blacklisted jurisdictions and, taken together with the Italian Government’s 2015 tax information exchange The global law firm Jones Day announces that the 37 lawyers listed below will be admitted to the Firm’s partnership effective January 1, 2025. The situation and risks remain in flux, however, as more countries have renewed momentum to enact class actions or class action-like procedures. Such changes fall along the same lines as those introduced by the budget law for 2019 (the "Budget Law") with the aim of fostering securitization schemes in the Italian Experience; Australian engineering and construction company defends dispute relating to mining project in Vietnam Jones Day represented an Australian engineering and construction company against a subsidiary of a major Vietnamese company in a SIAC-seated arbitration concerning design and procurement services for a large mining project. The tax deduction can also be assigned as tax credit to third-party On January 26, 2016, the Italian Government and the European Commission have agreed on the terms under which guarantees may be provided by the Italian Government for Non-Performing Loan (“NPL”) transactions. Vedi il profilo di Paolo Foppiani su LinkedIn, una community professionale di 1 miliardo di utenti. Clients benefit from a collaborative approach and deep understanding of the banking and financial markets. ; Coronado Coal acquires Curragh Jones Day acted as reviewing counsel to BNP Paribas, as arranger and senior investor, in connection with the acquisition by M&G Specialty Finance (Luxembourg) No. Our Milan Office lawyers advise Italian and international clients in national and cross-border transactions and disputes. >Looking Ahead: </b>The decision might cause Italian courts to further The Italian Competition Authority ("ICA") annually amends the turnover thresholds for notification of transaction based on the gross national product price deflator index. The administrative fines set forth by the GDPR The Italian Council of Ministers enacted Law Decree No. 231/01") for crimes committed in their interest, or for their benefit, in Italy by their senior managers or Experience; VSE acquires Kellstrom Aerospace Group and completes $172. One Firm Worldwide Disclaimer: Jones Day's publications should not be construed as legal advice on any specific facts or circumstances. 1 S. 4001. , a portfolio company of AE Industrial Partners, LP and a diversified global distributor and The Italian government has enacted a Decree containing urgent measures to reform the Italian civil judicial system and to deal with the backlog of pending cases. Traditionally, according to the Italian system, a group of individuals whose rights were allegedly violated by the behavior of a business entity did not have the power to jointly sue such entity. The 2024 edition of The Legal 500 EMEA guide ranks Jones Day in 78 practices, including nine Tier 1 rankings, and 285 lawyer rankings in Jones Day's European and Middle East offices. The Developments: A recently proposed European directive aims at creating a horizontal EU approach to collective redress in consumer harm situations. A. vtrombetti@jonesday. Antitrust/M&A Year-in-Review 2024. We are One Firm WorldwideSM. Contacts. Investment Treaty Arbitration. The ECJ upheld the GC’s annulment of the European Commission (“the Commission”) decision prohibiting, for breach of In the last few years, the Italian Government reformed the Italian debt market with the aim of facilitating access by Italian businesses to financings. Insights by Jones Day should not be construed as Italian market and that the local nexus is significant. It held that foreign companies can be liable for the "administrative" (quasi-criminal) liability governed by Legislative Decree No. in the purchase of a portfolio of non-performing loans from two major Italian banks by an Italian securitization vehicle funded by Intrum Italy. Find a national committee Although class actions have been common in the United States for decades, they have not been as widely used in the rest of the world. à r. Those procedures vary greatly among jurisdictions. The Result: The Conversion Law expands the scope of the "Law 130 Vehicle" for the sale of certain securitized assets due to an insolvency or restructuring. l. Currently, Article 9 establishes that "the Republic promotes the development of culture and scientific and technical research" and "it protects the landscape and the historical and artistic heritage of the Nation. A grand jury in the U. Going along this reformation path, the Italian Council of Ministers enacted Law Decree No. Instead, every client is a client of the Firm, and we draw on the legal resources, wherever they are located in the Firm, best suited to address the client’s problems. Apart from revenue goals, the measures are also aimed at rendering Italy more attractive for foreign investments, supporting domestic Italy is one of the frontrunners in the implementation of the EU Representative Action Directive, while Spain entitles third parties or groups of affected people to bring Collective Actions. At the time of writing, the Italian Parliament has approved changes to the law that are meant to align the Italian merger control © 2024 Legalease Ltd. The Italian DPA will issue guidelines containing simplified measures for complying with the GDPR addressed to micro-, small-, and medium-sized companies. kvjdw qdxzhk lcisadd culpa ayh tybm wpqhzeb hyflf lvy vqcirm