Italy Update: Withdrawal from shareholders’ agreements

Court of Milan, judgment no. 19 of 4 January 2022

Even in the absence of a specific contractual clause, in the presence of just cause, the right to withdraw from fixed-term collaboration agreements, characterized by intuitus personae (the personal character of a given service) and assumed at the time of the adoption of shareholders’ agreements, being able to apply analogically the rules provided (i) for the revocation of the directors of S.p.A., appointed for a fixed term and revocable ad nutum (when a person terminates a legal relationship by his free determination, without the other party being able to oppose) without prejudice to the right to compensation in the event of the absence of just cause for revocation; (ii) for the revocation of the onerous mandate, containing similar disciplines; (iii) for the withdrawal from the contract for the provision of professional work, withdrawal exercisable ad nutum by the customer, except for the reimbursement to the service provider of the expenses incurred and the payment of the fee for the work carried out until the withdrawal.

By Quorum, Italy, a Transatlantic Law International Affiliated Firm. 

For further information or for any assistance please contact italy@transatlanticlaw.com

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