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The Principle 'Piercing the Corporate Veil' in Italy

May 2009
Corporate GovernanceBanking & Finance

Abstract

The term “piercing the corporate veil” in English Law describes how directors or shareholders in a corporation can be held accountable for the liabilities and debts of the corporation, which previously they would have been immune from. It is possible to affirm that this premise also exists in the Italian legal system. The Italian reform of company law approved in Italy in 20031 has played a key role in “piercing the corporate veil”. In this paper I shall examine the different methods of piercing the corporate veil within the Italian judicial system. (ii) Best execution and elimination of the concentration obligation, examined in this paper.

Author

Portrait image of Ferdinando Bruno
Ferdinando Bruno
Head of Italian Restructuring , UniCredit Bank AG, Milan Branch, (UniCredit Group), Italy

Ferdinando Bruno is a dual qualified lawyer, as Avvocato in Italy and as Solicitor in England and Wales; he gained several years of experience in international capital markets, commercial and corporate law, insolvency, banking and finance. He is currently Managing Director and Head of Italian Restructuring of UniCredit Bank AG, Milan Branch, (UniCredit Group).

Company

UniCredit Bank AG, Milan Branch, (UniCredit Group)

UniCredit Bank AG, Milan Branch, (UniCredit Group), formerly Bayerische Hypo- unde Vereinsbank AG, Milan Branch, and Unicredit Banca Mobiliare (UBM) S.p.A., is the investment bank of UniCredit Group, covering Debt Capital Markets, Equity Capital Markets, Corporate Finance, Investment Banking.

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