News and Press

Edoardo De Carlo and Silvana De Lauretis assisted Falck Next S.r.l. (Falck Renewables group) with the acquisition of a going concern related to a solar power plant from Bryo S.p.A.

Caiazzo Donnini Pappalardo, with the counsel Edoardo De Carlo and associate Silvana De Lauretis, assisted Falck Next S.r.l. (Falck Renewables group) with the acquisition of a going concern related to a solar power plant from Bryo S.p.A.
Senior legal counsel Marco Lenzetti lead Falck Next in-house team.

 

 

 

 

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Francesco Bonichi joins Caiazzo Donnini Pappalardo & Associati as a tax partner

Caiazzo, Donnini, Pappalardo & Associati (CDP) is pleased to announce that Francesco Bonichi, who will be based in the Rome office, is joining the legal team as tax partner.
With more than 25 years of experience in the field, Mr. Bonichi joins CDP from Studio  Legale Tributario part of EY network, where he was a partner of the tax department in Rome.
 

Before that, for more than 12 years, he has been partner and responsible of tax department of Allen & Overy Rome office; he also worked in the tax and legal department of ExxonMobil in Italy and abroard.
Over the course of his career, Mr. Bonichi advised numerous domestic and international clients with respect to international tax structuring and has participated in complex and innovative M&A and IPO transactions; he is a recognised tax expert in banking, asset financing, structured finance and international capital market products. Furthermore, over the last years he assisted large corporate and banking clients in tax litigations and clients in the private banking and wealth managing sector.
Mr. Bonichi is considered one of the leading lawyers specialized in tax law in Italy according to several Italian and international legal directories.
Roberto Donnini, one of CDP founders, said: “Francesco professional experience fits well with our strategy to grow always looking at prominent practitioners but preserving our style and culture. The tax practice was a specialization we were looking for and that will boost the offer of our legal assistance to our clients”.
Mr. Bonichi added: “I am proud to join CDP, one of the most reputable boutique law firms in Italy, where in addition to a team, with which I worked with for many years at Allen & Overy, I met prominent practitioners coming from the major domestic and international law firms. Sharing the same style, culture and values of excellence for the benefit of our clients is the best reward I could aspire to.”

• Legal 500 2019 mentioned Francesco Bonichi in Band 4 as tax partner of EY Studio Legale Tributario https://www.legal500.com/c/italy/tax/?edition=europe-middle-east-africa/2019-edition#

• Top Legal 2020, ranked Francesco Bonichi in band 4, within Tax Finance area https://www.toplegal.it/centrostudi/professionista/320/francesco-bonichi

• Legal community Tax Report 2019 mentioned Francesco Bonichi within the category “The Best in Italy”, Band B+

https://legalcommunity.it/wp-content/uploads/2019/05/LC_TaxReport2019_LCsrl_3.pdf

 


 

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La nuova comunicazione dell’AGCM sugli accordi di cooperazione nel contesto dell’emergenza da Covid-19

Con comunicazione pubblicata il 24 aprile 2020 (la “Comunicazione”) l’AGCM ha fornito alcune indicazioni sulla valutazione di eventuali forme di cooperazione tra imprese volte a favorire la produzione e la distribuzione di beni e servizi essenziali nel contesto dell’attuale epidemia da Covid-19. La Comunicazione si rivolge, in particolare, al settore sanitario, nonché a quello agro-alimentare, nei quali potrebbe sorgere la necessità per le imprese di attuare iniziative di cooperazione al fine di ovviare a problemi di approvvigionamento ovvero trasporto e distribuzione di materie prime e beni (es. farmaci o dispositivi medici) potenzialmente afflitti da problemi di scarsità.

In linea con la comunicazione della Commissione europea dell’8 aprile 2020 , l’AGCM riconosce così l’esigenza di adattare la propria valutazione su determinate forme di cooperazione tra imprese – che, in ragione del tipo di informazioni scambiate o delle forme di coordinamento attuate, potrebbero, in taluni casi, presentare criticità sotto il profilo antitrust - alla luce dell’eccezionalità dell’attuale contesto sanitario e socio-economico.
Al fine di agevolare le imprese nel processo di auto-valutazione di tali accordi, l’AGCM ha, quindi, deciso di approntare un indirizzo di posta elettronica dedicato (accordi-cooperazione-COVID@agcm.it), mediante il quale imprese e associazioni di categoria possono contattare l’Autorità, al fine di ottenere indicazioni informali su specifici progetti di cooperazione: in casi eccezionali, individuati in via discrezionale dalla stessa Autorità, tali indicazioni potranno assumere la forma di vere e proprie comfort letter sulla valutazione dell’iniziativa notificata ai sensi della legge nazionale antitrust (L.n.287/1990).
La Comunicazione riveste particolare importanza, atteso che riprende parzialmente (sebbene nei limiti di mere comfort letter, adottabili in tutta discrezionalità, come detto, dall’AGCM) la ratio della procedura di autorizzazione in deroga di intese restrittive (art. 4 c. 1 della legge nazionale antitrust), ormai abbandonata in favore della completa auto-valutazione da parte delle imprese. 
Il testo della Comunicazione, attualmente valida e operativa fino a successiva comunicazione, è disponibile al seguente link https://www.agcm.it/media/dettaglio-notizia?id=92214ce5-288d-4088-9a8e-45acc241c9d8

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Aggiornamento alla breve nota "Covid-19 e Crisi di impresa" pubblicata in precedenza

Come auspicato e per le ragioni evidenziate nella breve nota pubblicata la settimana scorsa, con l’art. 5 del Decreto Legge n. 23 dell’8 aprile 2020 è stata prorogata al primo settembre 2021 l’entrata in vigore del Codice della crisi d’impresa e dell’insolvenza originariamente prevista per metà agosto 2020. La misura si sostituisce a quella già prevista dal Decreto Cura Italia (d.l. 2 marzo 2020, n. 9) relativa al solo differimento dell’entrata in vigore degli obblighi di segnalazione previsti dalla nuova normativa. Restano operative le modifiche al Codice civile già entrate in vigore il 16 marzo 2019.

 

ARERA - misure urgenti in materia di erogazione dei servizi di trasporto dell’energia elettrica e di distribuzione del gas naturale

Con delibera 116/2020/R/com, assunta il 2 aprile 2020 e pubblicata in data odierna, l’Autorità di Regolazione per Energia Reti e Ambiente (“ARERA”) ha deliberato alcune disposizioni urgenti in materia di pagamento delle fatture per il servizio di trasporto dell'energia elettrica e del gas naturale e di garanzie annesse ai relativi contratti di trasporto, nonché introdotto una temporanea rimodulazione degli obblighi di versamento degli oneri generali di sistema a carico dei distributori di energia elettrica e gas naturale.
 

Nello specifico, per gli utenti del servizio di trasporto di energia elettrica con contratto attivo si prevede:
- per le fatture del servizio di trasporto con scadenza nel mese di aprile 2020, la sospensione della disciplina degli inadempimenti connessi al pagamento di cui all'art. 5.1 dell'All. B) al c.d. Codice di Rete (delibera 268/2015/R/eel), a condizione che sia stato versato almeno il 70% del totale fatturato con riferimento ai punti di prelievo alimentati in bassa tensione;
- per le fatture del servizio di trasporto con scadenza tra il 10 marzo e il 31 marzo 2020, l'estensione di 15 giorni dei termini di sollecito e diffida previsti dagli artt. 5.1 e 5.2 dell'All. B) al Codice di Rete;
- in materia di gestione delle garanzie annesse ai contratti di trasporto, al fine della determinazione del requisito di regolarità dei pagamenti previsto dall'art. 2.5 dell'Allegato B) al Codice di Rete, la mancata presa in considerazione dei ritardi verificatisi nel mese di aprile 2020;
- ancora in materia di gestione delle garanzie annesse ai contratti di trasporto, l’allungamento dei termini di rinnovo delle garanzie annesse al contratto di trasporto (fino al terzo mese antecedente la scadenza della relativa garanzia) e l’estensione di 15 giorni lavorativi del termine per provvedere alla maggiorazione e alla prestazione di garanzia ai sensi degli artt. 3.2 e 4.8 dell’Allegato B al Codice di Rete;

- in caso di attuale pendenza di richieste di adeguamento, rinnovo, maggiorazione della garanzia ovvero di sollecito, diffida e risoluzione contrattuale, l’estensione di 15 giorni lavorativi del termine per adempiere o per la produzione degli effetti della risoluzione contrattuale;
- previsioni volte a “congelare”, a determinate condizioni, gli effetti di eventuali downgrade del livello di rating detenuto dall’utente del servizio di trasporto di energia elettrica o dalla sua società controllante;
 
Analoghe misure sono state previste per gli utenti del servizio di trasporto di gas naturale.

Infine, per le società distributrici di energia elettrica e di gas naturale è stata prevista la facoltà di avvalersi, di una riduzione degli importi da corrispondere al GSE e a CSEA a titolo di oneri generali di sistema (pari, nella specie, per i distributori di energia elettrica e limitatamente ai punti di prelievo alimentati in bassa tensione, al maggiore tra l’80% del fatturato mensile con scadenza ad aprile e la quota effettivamente incassata del medesimo fatturato, nel caso dei distributori di gas naturale al maggiore tra il 90% del fatturato mensile con scadenza ad aprile e la quota effettivamente incassata del medesimo fatturato).

È possibile consultare il testo completo della delibera al seguente link

https://arera.it/it/docs/20/116-20.htm

 

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Covid-19 e Crisi d’impresa

Alert su Covid-19 e Crisi d’impresa in allegato.

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The Italian Competition Authority opens several investigations on e-commerce practices related to the marketing of Covid19-related products

Following the outbreak of Covid-19 epidemics and the emergency state declared in the Italian territory, the Italian Competition Authority (“ICA”) is intervening against commercial practices allegedly in breach of the Italian Consumer Code, notably in the sale of drugs and products against Coronavirus.

For instance, on 12 March 2020 the ICA opened proceedings against the companies managing the Amazon and Ebay e-commerce platforms, with regard to the marketing of hand sanitizers and disposable respiratory protection masks. Specifically, these proceedings aim at verifying whether the claims of alleged effectiveness of these products against Coronavirus and their remarkable price increase recently recorded on the e-commerce platforms may be in breach of the prohibition of unfair commercial practices under the Italian Consumer Code (Legislative Decree no. 206 of 2005).
The opening of these investigations follows the requests of information sent to these online platforms operators on 27 February 2020 as a result of several complaints lodged by individuals and consumer protection associations. The e-commerce operators had to reply within three days from the receipt of these requests of information, informing the ICA about the measures adopted to eliminate potentially misleading advertising claims as well as to prevent unjustified and disproportionate price increases of the aforesaid products marketed through their platforms. The measures communicated apparently did not meet the ICA’s expectations, which consequently opened the investigations: the ICA could eventually forbid the conducts at stake and sanction the e-commerce operators with a fine of up to 5 million Euros.
With its decision of 17 March 2020 the ICA has resolved, by way of interim measures, to suspend the online marketing and sale of the generic drug Kaletra and to temporarily block the access to the related website https://farmacocoronavirus.it, managed by an individual. The drug, containing the active principles of an anti-viral drug used for healing HIV, was sold at the price of 634.44 Euros and was marketed as the “sole drug against Coronavirus (Covid-19)” and “the sole remedy to fight Coronavirus (Covid-19)” .
ICA deemed, on a prima facie assessment, that these claims were deceptive for consumers insofar as they did not specify that the purchase of these drugs be subject to medical prescription and considered that the scientific community has found no drug conclusively effective against Coronavirus at this stage.
In addition, the marketing of this drug has been deemed prima facie aggressive because it would be able to affect the commercial conducts of the consumers in the context of the alarm raised by the rising spread of the epidemic in the national territory.
On 30 March 2020 the ICA issued two additional interim decisions (with annexed opening of proceedings) against the online marketing of the drug Kaletra, suspending the access to the websites https://farmaciamaschile.it and http://farmacia-generica.it
In the meantime, additional interim decisions and start of proceedings have been adopted with regard to:
- the claims on the preventive effectiveness against Covid-19 of detergents, cosmetics and supplements advertised and marketed both on the website https://carlitashop.come and on the associated Instagram page (22 March 2020);
- the advertising and marketing of a so-called “Rapid Test COVID-19” at the price of 24.86 Euros on the website http://testcoronavirus.shop/it, which, as a result, has been temporarily shut down (22 March 2020);
- the claims on the preventive and therapeutic effectiveness against Covid-19 of the products advertised and marketed on the website www.oxystore.it , specifically consisting of a kit for oxygen therapy (30 March 2020).
Finally, it is worth noting that on 22 March 2020 the ICA has also ordered interim measures against the website www.gofundme.com , which operates a crowdfunding platform for the collection of funds for charitable purposes. This decision appears connected to the current Covid-19 emergency insofar as the platform has become popular and widely used by consumers for donations to hospitals and hospital wards located in the areas most affected by the current health crisis.
In this latter case, however, the ICA suspended the conduct on different grounds compared to those underlying the abovementioned decisions. More in detail, in the ICA’s view, the platform would have promoted its services as provided on a free basis while actually:
- charging a fee for any transaction by credit or debit card; and
- pre-selecting a percentage fee to be charged for each transaction (usually amounting to 10% of the donated sum), that the consumer may reduce or exclude only by opting-out.
As a result, the ICA ordered the platform to change the pre-selected percentage fee to zero, while providing the possibility for the consumers to change this specification and thus subjecting the possibility to leave a fee to an opt-in mechanism.

The decisions summarized above confirm the declared intent of the ICA to focus its supervision on exploitative practices of the current emergence in the e-commerce sector; a sector of particular importance in the current moment, also due to the reduced activity of other kinds of businesses, such as the traditional “brick and mortar” shops, which are now mostly closed as a measure to counteract the spread of the virus.

The press releases (in English) of the ICA’s decisions commented above are available under https://en.agcm.it/en/media/press-releases/ 

 
 

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COVID-19 IMPACT ON THE PERFORMANCE OF AGREEMENTS

The measures set out by the Italian Government to contrast the Covid-19 pandemic have a direct impact on the performance of companies and enterprises’ agreements given that their activities have often been interrupted or suspended.

 

The possible measures to be adopted with respect to the specific agreements require a case by case analysis, taking into account the type of agreement, the areas in which the company operates, the performance milestones reached and the parties’ interest in the prosecution of the contractual relationship.

Below is an overview of the instruments which may be available both under Italian law and under the relevant agreement to avoid possible litigation.

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Giulio Tognazzi in the acquisition finance Enex

Nctm con Sergio Girotto nella cessione di Enex a Roen Est Corporate M&A marzo 3, 2020 Nctm con Sergio Girotto nella cessione di Enex a Roen Est Nctm Studio Legale ha assistito Sergio Girotto nella cessione di Enex, società con sede a Treviso specializzata nella progettazione e sviluppo di sistemi frigoriferi ad alta efficienza con fluidi naturali, in particolare anidride carbonica, a Roen Est, società interamente controllata da CCC Holdings Europe , gruppo italiano che si propone come aggregatore nei settori del riscaldamento, dell'aria condizionata e della refrigerazione.

Nctm ha assistito il venditore per gli aspetti M&A, con un team coordinato da Michele Motta (nella foto). Lo studio Gattai, Minoli, Agostinelli & Partners, come già riferito da legalcommunity (leggi la notizia) ha assistito CCCHE con un team composto da Luca Minoli, Francesco Buoso e Nicola Occhipinti. Per quanto riguarda la correlata operazione di finanziamento dell'acquisizione di Enex, Roen Est ha ottenuto un finanziamento senior secured da UBI Banca in qualità di Arranger, Underwriter e Original Lender. In questo contesto, lo studio Gattai, Minoli, Agostinelli & Partners ha assistito il Borrower Roen Est con un team composto da Lorenzo Vernetti, Daniele Migliarucci e Cristina Cupolo, mentre lo studio Caiazzo, Donnini, Pappalardo & Associati ha assistito il Lender UBI Banca con un team composto da Giulio Tognazzi, Marta Mastroeni e Claudia Beranzoli.

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Caiazzo Donnini Pappalardo & Associati announces the appointment of Edoardo De Carlo as new counsel of the Firm.

Following its collaboration with a primary international law firm, Edoardo De Carlo has joined Caiazzo Donnini Pappalardo & Associati since its foundation in 2011 as a member of the corporate & litigation department led by Roberto Donnini and Marisa Pappalardo.

Edoardo has been regularly advising domestic and multinational clients in the areas of commercial, corporate and bankruptcy law, in which sectors he has gained a wide experience dealing with both litigation and transactional matters.

His appointment raises to two the Firm’s counsels, who support the 6 Firm’s partners, and reflects Caiazzo Donnini Pappalardo & Associati commitment to fostering and advancing its own professionals.

Giulio Tognazzi in the financing of Bianalisi

Caiazzo Donnini Pappalardo & Associates together with Banca IFIS, Banca Sella and Springrowth in a structured facility to Bianalisi assisted by Orrick

 

 

Caiazzo Donnini Pappalardo & Associates and Orrick have assisted, respectively, a pool of banks and investors formed by Banca IFIS, which acted as Arranger and Agent Bank as well, Banca Sella S.p.A. and Springrowth SGR S.p.A. , an Italian company, active in the clinical analysis services and specialist diagnostic centers, in a structured facility transaction, in four tranches, for an overall amount of Euro 65,000,000.00.
Giulio Tognazzi (in the picture), partner, has lead the team of Caiazzo Donnini Pappalardo & Associati, with the associates Marta Mastroeni and Claudia Beranzoli, while partner Alessandro Accrocca,  together with Serena Mussoni and Cosimo Spagnolo, has lead the team of Orrick.

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Rino Caiazzo wins before the Court of Cassation for Gala and Aiget

Rino Caiazzo (in the picture), assisted by Enrico Di Tomaso, of the law firm Caiazzo Donnini Pappalardo & Associati, together with Prof. Federico Tedeschini, assisted by Grazia Gaspari, have successfully defended before the Plenary Session of the Court of Cassation Gala Spa (and Rino Caiazzo also AIGET - Associazione Italiana di Grossisti di Energia e Trader)

in the case started by the company e-distribuzione (ENEL) against the judgment n. 5620/2017 of the State Council that had confirmed the annulment of Resolution 268/2015/R/eel of the Autorità per l’energia elettrica (ARERA) concerning the “Codice di rete tipo per il servizio di trasporto dell’energia elettrica: disposizioni in merito alle garanzie contrattuali ed alla fatturazione del servizio” (rules on the electricity transportation service) with regard to the obligation of the traders to provide guarantees to the distributors also for the payment of the so called “oneri di sistema” (levies utilized by the State for interventions of public interest), even in case of non payment by the final client, since such levies bear upon  the final clients in respect to their energy consumptions, by adding that ARERA does not have the power to intervene in the contracts between traders and distributors as to obligations and levies that the law charges upon third parties ((therefore out of the scope and subject matter of the electricity transportation contracts).

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Caiazzo Donnini Pappalardo & Associati announces the appointment of Daniele Pilla as new partner of the Firm.

Daniele Pilla joined Caiazzo Donnini Pappalardo & Associati in 2013, together with the antitrust and regulation department led by Rino Caiazzo, and became counsel in 2017. Prior to joining the Firm, he collaborated with primary Italian and international law firms.

The new partner has been regularly advising Italian and foreign clients in the areas of antitrust law, regulated markets, commercial contracts and M&A, in which sectors he has gained wide experience.
This appointment raises to six the Firm’s partners and reflects Caiazzo Donnini Pappalardo & Associati commitment to fostering and advancing its own professionals.
 

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Caiazzo Donnini Pappalardo assisted Intralot in the sale of its shareholding in Gamenet

Caiazzo Donnini Pappalardo, with Roberto Donnini (in the picture), Alessandro Pilarski and Silvana De Lauretis, assisted Intralot, leading multinational provider of services and systems for public betting and gaming, in the sale of its shareholding in Gamenet Group S.p.A, an Italian company listed on the MTA of Borsa Italian and one of the main concessionaires in Italy for betting, gaming and newslots.

 

Intralot entered into a share purchase agreement for the sale to the private equity fund Apollo Management of its entire participation in Gamenet Group, at a price of Euro 12,5 per share.

Closing of the transaction is subject to certain conditions precedent (among which clearance from Antitrust and Amministrazione delle Dogane e dei Monopoli). Upon closing, the buyer will launch its public tender for all the shares of Gament Group. 

Paul, Weiss, Rifkind, Wharton & Garrison LLP, with Ramy Wahbeh and Pelin Demirdere Eski, and Latham & Watkins LLP, with Stefano Sciolla, Giorgia Lugli and Guido Bartolomei have assisted Apollo.

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Crediti deteriorati: come stanno andando le GACS

Newsletter Zenith Service , 4 July 2019

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Caiazzo Donnini Pappalardo assisted C.H. Robinson with the acquisition of Dema Service S.p.A.

 

 

Caiazzo Donnini Pappalardo, with a team made up by Alessandro Pilarski (in the picture), Edoardo De Carlo and Silvana De Lauretis, together with Roberto Donnini, assisted C.H. Robinson with the acquisition of Dema Service S.p.A.

C.H. Robinson is one of the world’s largest third-party logistics providers, managing services for more than 124,000 customers and 76,000 active contract carriers, through its integrated network of offices and more than 15,000 employees. Headquartered in Eden Prairie, Minnesota, C.H. Robinson has been publicly traded on the NASDAQ since 1997.

Dema Service, founded in 2004 and based in Chieti, is a leading provider of truck brokerage in Europe, providing also freight forwarding and other logistics services.

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CDP assists Orizzonte Solare in the disinvestment of two photovoltaic plants

The law firm Caiazzo, Donnini Pappalardo & Associati with a team coordinated by Roberto Donnini (in the picture)  and made up by counsel Alessandro Pilarski and associates Federica Milazzo and Marta Mastroeni, assisted Orizzonte Solare – controlled by Fondo Sistema Infrastrutture of HAT Orizzonte SGR S.p.A. – in the sale of two photovotaic portfolios with an overall installed electric power of 10,6 MW, placed in the provinces of Brindisi and Foggia.

The plants have been acquired by Green Arrow Capital S.p.A., assisted by the law firm Gianni, Origoni, Grippo, Cappelli & Partners, with a team lead by partner Raffaele Tronci and made up by counsel Angelo Crisafulli and associates Niccolò Antongiulio Romano and Michela Maresca. The regulatory and administrative aspects of the acquisition have been followed for Green Arrow by Andrea Sticchi Damiani.

The law firm has also assisted Orizzonte Solare in the concurrent reimbursement of the project finance granted by two different pools of banks to the owner of the plants, i.e. Brindisi Solare S.r.l. and Raggio di Puglia S.r.l.
 
The acquisition was made on behalf of Radiant Fund, a Luxembourg platform of which Green Arrow Capital is General Partner, through Renewable European Investment 4 – REI IV S.r.l., a vehicle dedicated to renewable energy infrastructures.

 

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Caiazzo Donnini Pappalardo & Associati with Hitachi in the Siemens/Alstom merger case

Caiazzo Donnini Pappalardo & Associati assisted Ansaldo STS and Hitachi Rail Italy before the EU Commission in the procedure for the appraisal of the Siemens/Alstom proposed merger, that resulted in the prohibition of the transaction.

 

 

Ansaldo STS and Hitachi Rail Italy were recognised as interested third persons in the merger case due to the fact that they are direct competitors of Siemens and Alstom in the various relevant markets affected by the envisaged concentration (falling within the railway signaling and rolling stock sectors).

The companies were advised by a team led by partner Rino Caiazzo and including counsel Daniele Pilla, associate Enrico Di Tomaso and trainee Cecilia Solato.

Coordination of the respective in-house teams was led by Filippo Corsi (Senior Vice President, General Counsel and Chief Compliance Officer) and Cristiano Crinisio (Head of CEO Office) for Ansaldo STS, and by Sergio Paolini (General Counsel, Senior Vice President Legal, Corporate and Compliance) and Pierfrancesco Garimberti (Vice President Strategies & Project Financing Strategies, Sales & Program Management) for Hitachi Rail Italy.

The transaction envisaged to merge the two major European players of the railway sector through the combination of the  Siemens AG Mobility Division and Alstom SA, resulting in the creation of an entity – subject to Siemens AG sole control – holding a dominant position in certain signaling markets and in the market for very high-speed trains.

During the investigation the Commission raised various competition concerns in relation to the notified transaction, regarded as potentially leading to significant impediment to effective competition in the relevant markets within which, following the merger, the competitive pressure from remaining competitors would not have been sufficient to ensure effective competition.

In order to address the objections raised by the Commission, Siemens and Alstom had submitted a proposal of remedies that, however, the Commission deemed as not sufficient to eliminate the concerns that the transaction would result in a significant impediment to effective competition.

 

 

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Giulio Tognazzi has assisted the European Investment Bank in relation to a financing to Avio

Giulio Tognazzi (in the picture), partner of Caiazzo Donnini Pappalardo & Associati, has assisted the European Investment Bank (EIB) in relation to a facility granted to Avio S.p.A., an Italian listed company, leader in the aerospace sector.
 

Such loan is addition to a previous loan granted in 2017 and it is aimed at further supporting the development plan of new technologies in the field of space propulsion system functional to the offer of new products for the programmes Ariane 6 and Vega C and the expansion of the industrial capacity of the Colleferro site necessary to meet the Company’s production volumes targets for the coming years.
The loan is part of a joint initiative of EIB, the Ministry for Economic Development and the Ministry of Economy in support of investments in innovation (italian risk sharing initiative), aimed at financing projects in research, development and innovation.
Responsible for the legal aspects for Avio S.p.A. have been: the Genaral Counsel, Avv. Giorgio Martellino and Avv. Letizia Macrì.

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The Italian Competiion Authority sanctioned some companies of Enel group and Acea group for abusive conducts

With decisions of 20 December 2018, the Italian Competition Authority (“AGCM”) sanctioned some companies of Enel group and Acea group for abusive conducts in the local markets of retail sale of electricity.

The conducts which were sanctioned concern the unlawful exploitation of entitlements and information for the purpose of gradually transferring the group customers currently served under the regulated regime (servizio di maggior tutela) to the liberalized market. On the same date, AGCM dropped a similar accusation and closed an investigation against A2A group.

CDP Studio Legale, with the partner Rino Caiazzo and the associate Enrico Di Tomaso, represented and assisted some energy companies which intervened in the proceedings to support the AGCM investigation.

The press release, with reference to the final decisions, is available at the following link
http://www.agcm.it/media/dettaglio?id=af75d960-b5cc-414a-b37c-18813e7cf4c8

Fonte: AGCM