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27FebCorporate capital increases: share premium and minority interestsPurposes and functioning of share premiums In most corporate capital increases, where new shares are issued the company usually determines the selling price, adding an additional sum to the nominal value of the shares. The difference between the nominal value and the selling price of the shares is known as the share premium. The reason…Article filed under: Mergers & Acquisitions
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23FebCosta concordia documentary: media issues surrounding investigationsOn January 13 2012 the cruise ship Costa Concordia struck a rock and ran aground near the western coast of Italy. The circumstances of the grounding and the subsequent rescue operation attracted intense media interest in Italy and abroad. Several legal issues have arisen in connection with the broadcast of a television documentary about the…
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23FebAlcuni trend in materia di responsabilità dell’internet service providerIn tempi recenti, le corti italiane hanno emesso alcune interessanti pronunce in materia di responsabilità dell’Internet Service Provider (ISP). Tali pronunce hanno evidenziato una distinzione, in realtà non presente in alcuna norma di legge ma fondata su una constatazione fattuale del ruolo svolto dall’ISP, tra: (i) “ISP attivo”, che svolge un ruolo attivo nella trasmissione…Article filed under: Internet & Ecommerce
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17FebParticipative financial instruments: what opportunities?Economic crises, debt restructuring and new “instruments” of solution Participative financial instruments (the “Strumenti Finanziari Partecipativi – SFP”) have been introduced by Legislative Decree no. 6 of January 17, 2003 (the “Reform”) by amending the existing article 2346, paragraph 6, of the Italian civil code. This provision reads ”The company may issue financial instruments that…Article filed under: Mergers & Acquisitions
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9FebEuropean works quotas for on-demand media service providersIntroduction Under Italian law, audiovisual media service providers (both broadcasters and on-demand media service providers) are required to promote the production and distribution of European works(1) under a quota system. The system reflects the general aims of the EU Audiovisual Media Services Directive (2010/13/EC).(2) The quota system for broadcasters is regulated by Resolution 66/09/CONS of…Article filed under: Television
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8FebMac clauses: drafting, enforceability and alternative remediesIntroduction In times of economic difficulty, parties to M&A transactions are more inclined to adopt mechanisms that allow them to adjust or even terminate their agreements if certain adverse events occur. One such mechanism, which has received much attention in recent years, is a material adverse change (MAC) clause, also called a material adverse effect…
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8FebGroup of companies: recent supreme court decisionRecent case In Decision 25270, which was issued on November 29 2011, the Labour Section of the Supreme Court ruled on the status of parent companies in the employment relationships of their subsidiaries’ employees. The court stated that if a parent company effectively interferes itself in the management of such relationships, it is deemed to…Article filed under: Labour and Employment
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13JanCorte di giustizia unione europea – affollamento pubblicitario in tvIl 24 novembre 2011 la Corte di Giustizia ha reso un’interessante pronuncia in materia di pubblicità televisiva e tempo di trasmissione (C-281/09, Commissione europea c. Regno di Spagna). Data la valenza generale delle affermazioni della Corte nella sentenza in esame, nonostante questa si riferisca alla normativa in materia di limiti di affollamento pubblicitario anteriore alla…Article filed under: Television
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12JanCrisis could force restart of digital dividend allocation plansIn 2011 two procedures for spectrum allocation were launched in Italy. The first was a spectrum auction to allocate the external digital dividend (ie, frequencies in the 800, 1800, 2000 and 2600 megahertz (MHz) bands) to telecommunications operators for the purpose of developing commercial terrestrial radio systems and public electronic communications, including mobile broadband networks…
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13DecFrench court finds Google has editorial control over adwords advertisingOn November 14 2011 the Tribunal de Grande Instance de Paris (TGI) ruled against Google France and Google Ireland, finding that their AdWords service allowed a company to use an individual’s name as a keyword to trigger links to an article and photographs that infringed the individual’s rights to private life.Article filed under: Internet & Ecommerce
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