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Corporate & Commercial

29 June 2020
Eugenio Vaccari Court of Milan rules on simul stabunt simul cadent clause

Italy - Grieco e Associati

The Court of Milan recently examined the simul stabunt simul cadent clause in a joint stock company's articles of association. Pursuant to such clause, if a director resigns from the board of directors, the entire board is no longer in charge of the company and a shareholders' meeting must be called to appoint a new board. If the ousted director proves that this clause has been used illicitly and that such use amounts to an abuse of power by the company, they can be compensated for damages suffered.

Author: Eugenio Vaccari
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Mădălina Neagu Streamlining procedure for declaring beneficial owners

Romania - Schoenherr

Pursuant to a recently issued draft bill, the legal framework regarding companies' obligation to submit a statement about their beneficial owners could be simplified. The main amendments, which are expected to be well received, will remove companies' obligation to submit an annual statement regarding their beneficial owners and declare their beneficial owners (in the case of companies held by individuals).

Authors: Mădălina Neagu, Cristina Enaga
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Recent updates

Vineet Aneja Laws governing companies: overview

India - Clasis Law

Author: Vineet Aneja
Ella Boardman COVID-19 Weekly Report (1-7 June 2020)

International - International Law Office

Author: Ella Boardman
Antonio Grieco De facto administrators and criminal liability

Italy - Grieco e Associati

Author: Antonio Grieco
David Boles FRC updates company guidance on reporting exceptional or similar items and alternative performance measures

USA - Cooley LLP

Authors: David Boles, Edward Dyson, Claire Keast-Butler

Upcoming event

GAR Live Singapore

1 September 2020 – Singapore

Returning for its sixth year, GAR Live Singapore will bring together leading arbitrators, representatives of institutions, expert witnesses and founders to address emerging developments in Singapore and beyond. Attendees will hear specific techniques and approaches for successfully mediating within investor-state arbitration, determine whether Singapore should be looking to innovate governing law, gain insight into cross-border award enforcement and join the GAR Live debate to decide whether Singapore International Arbitration Centre rules should provide parties with the opportunity to appeal on a point of law.

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