{"id":621,"date":"2019-09-24T09:40:03","date_gmt":"2019-09-24T07:40:03","guid":{"rendered":"https:\/\/www.dinamikastp.it\/la-clausola-sociale-della-roulette-russa\/"},"modified":"2021-12-03T16:36:51","modified_gmt":"2021-12-03T15:36:51","slug":"company-bylaws-and-the-russian-roulette-provision","status":"publish","type":"post","link":"https:\/\/www.dinamikastp.it\/en\/company-bylaws-and-the-russian-roulette-provision\/","title":{"rendered":"Company bylaws and the \u201crussian roulette\u201d provision"},"content":{"rendered":"\n<h1 class=\"has-text-color wp-block-heading\" style=\"color:#b53a38\">COMPANY BYLAWS AND THE \u201cRUSSIAN ROULETTE\u201d PROVISION<br><br><\/h1>\n\n\n\n<p>The Milan Notarial Council recently issued an explanatory interpretation (massima no. 181\/2019) describing the presence of a Forced Buy-Sell clause in the by-laws of joint-stock or limited liability companies\u2014a clause otherwise known as \u201cRussian roulette\u201d or \u201cChinese\u201d clause\u2014as legitimate.<\/p>\n\n\n\n<p>According to said interpretation, it is within the rights of a company\u2019s founders or directors to include this kind of anti-deadlock clause in company by-laws. They still have to comply with the criterion of a proper assessment of the value of the shares one of the parties is being forced to sell, but this limitation does not necessarily imply that such clauses must explicitly mention how the value of said ownership shares is to be established as envisaged in case of a legal termination of the agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"<h2>News and events<\/h2>\n<h1>KEEP UP TO DATE<\/h1>\n","protected":false},"author":1,"featured_media":534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-law"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Company bylaws and the \u201crussian roulette\u201d provision - 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