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Years Insights 

Italy – Product liability: important decision of the Milan Courts on defective medical devices

The protection of consumers damaged by defective products was introduced into the EU framework by Directive No. 374/1985/EEC (the "Directive") and implemented in Italy by Presidential Decree No. 224/1988, subsequently incorporated into Legislative Decree No. 206/2005 (the so called "Codice del Consumo", the "Code"). The Directive intervened to coordinate and harmonise national legislation and to avoid that the existing disparities among domestic regulations could adversely affect competition, thus jeopardising the free circulation of goods within the common market.

Green-light for the "revolving pledge" on agricultural and food products

On August 29, 2020, Decree July 23, 2020 was published in the Official Journal of the Italian Republic, on the establishment of the revolving pledge on agricultural and food products with a protected denomination of origin and a protected geographical indication, by way of implementation of Sec. 78, Paragraphs 2-duodecies, 2-terdecies and 2-quaterdecies of Law April 24, 2020, n. 27 (so-called "Cura Italia").

Anti-Dilution Clauses – Recent Opinion of the Notarial District Council of Milan

By Position Paper No. 186 dated Dec. 3, 2019, the Notarial District Council of Milan confirmed the validity of such anti-dilution clauses embodied in Articles of Association to provide for the gratuitous allocation of a certain number of newly issued shares to one or more identified shareholders for the case of future capital increases with a subscription price-per-share below a predetermined threshold.