1,723,244 research outputs found
"Continuazione" dell'impresa e "riorganizzazione" della società insolvente nell'evoluzione dell'ordinamento societario e concorsuale. Appunti per uno studio sistematico
No full textIl saggio indaga l'evoluzione della disciplina giuridica applicabile alla società di capitali insolvente dal cod. comm. 1882 sino ad arrivare al codice della crisi d'impresa e dell'insolvenza del 2019-2024, cercando in particolar modo di offrire una chiave di lettura sistematica circa la conciliabilità, da un lato, della reintrodotta causa di scioglimento a seguito di sentenza d'apertua di quella che oggi si chiama liquidazione giudiziale (art. 2484, co. 1, n. 7 bis, c.c.), e, dall'altro lato, dell'attitudine anche riorganizzativa che le procedura de qua può assumere, come emblematicamenre dimostrato dalla norma che ora attribuisce al curatore della procedura concorsuale de qua il potere d'intervenire sulla stessa struttura organizzativa societaria (art. 264 c.c.i.i.), specie in relazione ad un possibile esito concordatario della procedura medesima. La tesi è essenzialmente duplice e va nel senso che: 1) il significto delle previsioni vada complessivamente ricostruito alla luce del nuovo sistema del diritto della crisi, fortemente imperniato sulla prevenzione e gestione precoce delle disfunzioni aziendali, e quindi dell'esigenza di risidegnare in maniera più netta, con l'introduzione di alcuni scalini normativi, i confinit tra "(corporate) liquidation" e "(corporate) reorganization"; 2) che negli attuali dibattiti sul c.d. "diritto societario" della crisi, vada piuttosto valorizzata quella prospettiva (di matrice prettamente tedesca) che predilige enfatizzare l'esitenza di un "diritto dell'impresa insolvente" (globalmente intesa), con possibilità, di fronte all'art. 264 c.c.i.i., di replicare quanto K. Schmidt già aveva sostenuto con riguardo all'ordinamento tedesco, e cioè l'essere il curatore vero e proprio "organo" dell'impresa assoggettata alla procedura liquidativa giudiziale.This article traces the evolution of the italian legal regime governing insolvent corporations, from the Codice di commercio of 1882 to the current Codice della crisi d’impresa e dell’insolvenza (2019–2024). It seeks, in particular, to provide a systematic account of how to reconcile two developments that may appear in tension: on one side, the reintroduction of dissolution as a statutory consequence of a judgment opening what is now termed liquidazione giudiziale (judicial liquidation) (art. 2484(1)(7-bis) c.c.); on the other, the capacity of that same proceeding to assume a reorganization-oriented function—most notably illustrated by the new provision empowering the insolvency trustee to intervene directly in the company’s governance structure (art. 264 c.c.i.i.), particularly where a negotiated settlement (concordato) is contemplated as the proceeding’s outcome.
The argument advanced is twofold. First, the meaning of these provisions should be reconstructed in light of the redesigned architecture of Italian insolvency law—an architecture centered on the prevention and early remediation of corporate dysfunctions—so as to draw a sharper normative boundary, through calibrated statutory thresholds, between “corporate liquidation” and “corporate reorganization.” Second, in contemporary debates on corporate insolvency law, greater weight should be given to the German-inspired view that the relevant field is more aptly conceived as a “law of the insolvent enterprise” intended in its entirety. Read against art. 264 c.c.i.i., this approach permits a restatement in the Italian context of K. Schmidt’s thesis under German law: that the insolvency trustee is, in substance, an “organ” of the enterprise subjected to judicial liquidation.Der Beitrag zeichnet die Entwicklung des Rechtsrahmens für insolvente Kapitalgesellschaften nach – von dem Codice di commercio von 1882 bis zum geltenden Codice della crisi d’impresa e dell’insolvenza (2019–2024). Im Mittelpunkt steht insbesondere der Versuch, eine systematische Deutung zu geben, wie zwei auf den ersten Blick gegenläufige Entwicklungen miteinander in Einklang gebracht werden können: einerseits die Wiedereinführung der Auflösung als gesetzliche Folge einer Entscheidung, mit der das Verfahren eröffnet wird, das heute als liquidazione giudiziale (gerichtliche Liquidation) bezeichnet wird (Art. 2484 Abs. 1 Nr. 7-bis c.c.); andererseits die Möglichkeit, dass eben dieses Verfahren eine auf Reorganisation ausgerichtete Funktion annimmt – besonders deutlich illustriert durch die neue Regelung, die dem Insolvenzverwalter die Befugnis verleiht, unmittelbar in die Organisationsstruktur der Gesellschaft einzugreifen (Art. 264 c.c.i.i.), insbesondere in den Fällen, in denen ein verhandelter Vergleich (concordato) als Abschluss des Verfahrens in Betracht gezogen wird.
Das vertretene Argument ist zweigliedrig. Erstens sei der Bedeutungsgehalt dieser Vorschriften im Lichte der neu gestalteten Architektur des italienischen Insolvenzrechts zu rekonstruieren – einer Architektur, die auf die Prävention und frühzeitige Behebung unternehmerischer Dysfunktionen ausgerichtet ist –, um so eine deutlichere normative Trennlinie durch gezielt eingesetzte gesetzliche Schwellenwerte zwischen „gesellschaftlicher Liquidation“ und „gesellschaftlicher Reorganisation“ zu ziehen. Zweitens sei in den aktuellen Diskussionen um das sogenannte „Gesellschaftsrecht“ der Insolvenz stärker der von der deutschen Lehre geprägten Sichtweise Rechnung zu tragen, wonach das einschlägige Rechtsgebiet zutreffender als ein „Recht des insolventen Unternehmens“ in seiner Gesamtheit zu begreifen ist. Im Lichte des Art. 264 c.c.i.i. ermöglicht dieser Ansatz eine Übertragung der von K. Schmidt für das deutsche Recht vertretenen These auf den italienischen Kontext: dass der Insolvenzverwalter im Kern als „Organ“ des der gerichtlichen Liquidation unterliegenden Unternehmens anzusehen is
La SPAC (“Special Purpose Acquisition Company”), un’altra complessa creatura del capitalismo finanziario globale
No full textIl lavoro si propone di studiare fenomenologia e rilevanza giuridica della Special Purpose Acquisition Company (“SPAC”). A tal fine, prenderemo a principale riferimento il modello affermatosi sui mercati statunitensi e da qui poi circolato verso le altre piazze borsistiche internazionali, analizzandone la struttura e logica di funzionamento nel segno dello “speciale scopo” che lo contraddistingue: raccogliere capitali in una IPO al fine di acquisire successivamente un’impresa di tipo chiuso da quotare in borsa. Procederemo quindi a dar conto delle reazioni che, alla luce dell’esperienza comparata, la recente diffusione della SPAC ha innescato tanto sul piano della riflessione scientifica, quanto, e a seguire, su quello del policy-making e della regolamentazione, alimentando, principalmente a cagione del suo essere struttura organizzativa endemicamente conflittuale, un dibattito assai vibrante a livello internazionale.
L’obiettivo è duplice. Innanzitutto – e nell’immediato –, informare il lettore attorno a questa ulteriore epifania del mai domo processo creativo tipico del capitalismo finanziario. Secondariamente – e in più lunga prospettiva –, preparare il terreno per un’ulteriore investigazione comparatistica più specificamente calibrata attorno ai conflitti d’interesse e ai doveri fiduciari degli amministratori delle SPAC. A questo scopo, dunque, lo scritto si propone di indagare la complessa logica transazionale alla base del rapporto tra le varie categorie di soggetti partecipanti a questi peculiari veicoli d’investimento alla luce delle concrete dinamiche evolutive propiziate dalle più recenti prassi di mercato.SPAC (“Special Purpose Acquisition Company”): another complex creature of global financial capitalism. ABSTRACT: The article is aimed at studying the phenomenology and legal significance of the Special Purpose Acquisition Company (“SPAC”). To this end, we will primarily refer to the model that firstly emerged on the US markets and then circulated to several other international stock exchanges, analysing its structure and operating logic in the light of the “special purpose” that distinguishes it: to raise capital through an IPO and then search for a private business to acquire and bring public within a short time frame. We will then proceed to examine the reactions that, in the light of comparative experience, the recent spread of the SPAC model, precisely because of its endemically conflictual structure, has triggered both in terms of scientific debate, and policymaking and regulatory initiatives at the international level.
The objective is twofold. Firstly – and immediately – to inform the reader about this further epiphany in the creative process of financial capitalism. Secondly – and in a longer perspective – to prepare the ground for a further (and more specifically focused) comparative investigation on conflicts of interest and fiduciary duties of SPAC directors. To this end, the article sets out to investigate the complex transactional logic underlying the relationship between the various groups of participants in these peculiar investment vehicles, considering the evolutionary dynamics fostered by the most recent market practices
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Large and small scales in a turbulent orifice round jet: Reynolds number effects and departures from isotropy
Full text linkAn experimental investigation of the near field of a turbulent orifice jet is performed using high resolution Particle Image Velocimetry, aiming to highlight effects on the flow field due to changes in Reynolds number. The attention is focused onto departures from isotropy for large and small scales, by considering statistics of mean square velocity and velocity derivatives and specifically the non-dimensional ratios of such quantities. The results compare well with available literature data and pointed out that the effects of Reynolds number on large scales are usually small and limited to a region ranging less than seven-ten diameters from the jet outlet. For small scales, such Reynolds number dependence is extended up to ten-fifteen diameters. Farther from the jet exit, Reynolds number dependence almost disappears and all data approach similar asymptotic behaviors. On the other hand, velocity and some velocity derivative statistics clearly show that neither large nor small scale statistics strictly follow the isotropy condition; nonetheless, differences from that condition are limited to a factor which is almost constant in the whole measured field. In order to provide a link between such large and small scale departures from isotropy, a relation among mean square velocity ratios and mean square derivative ratios is proposed and proved to be well verified in the measured region and interval of Reynolds numbers. This relation allows deriving small scale derivative ratios, which are difficult to measure experimentally or to obtain numerically, due to high resolution requirements, from large scale velocity ratios, which are achieved much easier
Water Management in Italy
No full textThis book is an attempt to discuss the most relevant issues concerning water management in Italy. Using the most recent available data and starting from the extant international literature, it focuses on the features of the Italian water indus-try, the water utility firms’ efficiency, the investment policies and funding choices of the water companies, and the sustainable practices put in place by the utilities to reduce water consumption and spread virtuous behaviors
American society of gene therapy - tenth annual meeting
No full textAt present, gene transfer technology is a useful tool for the engineering of animal and cell-culture models for the study of various pathological conditions. Achieving more effective human gene therapy clinical trials requires improvements in vector design, both in terms of safety and transduction efficiency, particularly for the in vivo modality of gene transfer. Encouraging progress is reported in the field of gene therapy every year; however, the successful application of gene therapy programs in the clinical setting still requires enormous further research effort. © The Thomson Corporation
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