On 25 July 2023, the Italian Supreme Court issued its judgement in case No. 22375 confirming the consistency with Italian company law of the so-called "Russian roulette clause", i.e. a covenant by which, in case of a deadlock in the shareholders' meeting, one of the shareholders can make an offer to purchase, at a specified price, the other shareholder's shareholdings. The "Russian roulette clause", developed in the common law experience, is usually included within shareholders' agreements or within the articles of company bylaws.
Originally published by August - September, 2023
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