CASES IN BUSINESS LAW

CASES IN BUSINESS LAW

Andrea Sacco Ginevri

Obiettivi formativi

The course aims at providing students with a comprehensive knowledge of the main elements of business law – including corporate law and securities regulation - in order to enable them to recognize in the future the main issues generally arising from such kind of business transactions. The course deals also with practical structures and implications, looking at the actual transactions consummated in the international market context. In particular, the course pursues the following specific objectives: to give students a knowledge and understanding of the main elements of corporate law, banking, insurance and securities regulation, also on an international basis; to give students an understanding of the corporate issues concerning Italian listed companies; to increase awareness and understanding of the main items regarding corporate governance, with specific regard to banks, insurance companies, financial intermediaries and listed companies; to learn and apply skills developed during the course also moving from the significant cases discussed during the classes.

Risultati di apprendimento attesi

At the end of the course, students should have an overview of the most controversial topics regarding business law and they should be able to: understand and describe the main arguments analyzed during the classes (Knowledge and understanding); analyze and explain the issues connected to the matters discussed during the course (Applying knowledge and understanding); understand and use major terms and concepts in order to communicate ideas, proposals, analysis and critical reasoning in the field of business law in the most effective and appropriate way (Communications Skills).

Contenuti Del Corso

The course deals with the following contents:  Preliminary introduction on the main Italian and European business laws and regulations, with particular focus on listed companies and financial institutions;  Financial markets’ dynamics, principles, players and main rules;  Regulation on the issuers of listed financial instruments;  Transactions in control;  Related parties’ transactions and conflict of interests  Market abuse regulation and insider trading;  Extraordinary transactions;  Cross-border transactions;  Golden powers’ and foreign direct investments regulation;  Corporate governance rules and best practices; Italian and European corporate and securities law: trends and perspectives.

Testi Di Riferimento

VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, CEDAM, II ed., 2021 (https://luiss.alma.exlibrisgroup.com/discovery/openurl?institution=39LLUISSGC_INST&vid=39LLUISSGC_INST:Services&lang=it&rfr_id=info:sid%2Fsummon&rft_dat=ie%3D&rft.mms_id=991002968328004196&svc_dat=CTO&u.ignore_date_coverage=true&Force_direct=false) Please see the content of each lecture for details on the book’s chapters associated to each single class.

Metodologie Didattiche

Traditional lectures, weekly case discussions and weekly written assessments

Modalità di verifica dell'apprendimento

70% of the final grade will be determined based on active participation to classes, weekly case discussions and weekly written assessments. The remaining 30% of the final grade will be determined in the final oral exam on certain selected topics treated during the entire course. Students recording more than 4 absences during the entire course will not be able to attend the final oral exam in first call.

Criteri per l’assegnazione dell’elaborato finale

The formal request for the final dissertation could be filed by students who achieved an high final score at the end of the course (more than 28/30) and demonstrated during the course attitude in analyzing business cases and materials also from a practical perspective. Any request will be discussed with the Professor and accepted if the above mentioned criteria are satisfied.

Settimana 1

Preliminary course introduction Functions of the share capital Differences between equity and debt Companies' limited liability Transactions on share capital Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, CEDAM, 2021, pp. 25 - 42 (chapters 2 and 3).

Settimana 2

Corporate control Direction and coordination activity Takeover bid Acting in concert l definition. Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, II ed., CEDAM, 2021, pp. 43-49 (Chapter 4) and pp. 121-133 (Chapter 12).

Settimana 3

Prerogatives of the different corporate bodies; Directors' liability Resolutions of primary interest Corporate governance mechanisms Sectoral regulation applicable to banks Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, II ed., CEDAM, 2021, pp. 111-120 (Chapter 11) and pp. 231-242 (Chapter 20).

Settimana 4

Extraordinary transactions; Mergers and demergers; Exchange ratio Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, II ed., CEDAM, 2021, pp. 85-100 (Chapters 8-9).

Settimana 5

Withdrawal right Special classes of shares Exit mechanisms The special meeting of shareholders Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, II ed., CEDAM, 2021, pp. 71-84 (Chapter 7) and pp. 101-110 (Chapter 10).

Settimana 6

Capital increase Dilutive effect Loyalty shares Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, II ed., CEDAM, 2021, pp. 61-69 (Chapter 6) and pp. 135-149 (Chapter 13).

Settimana 7

Business judgement rule Directors' liability regime Board committees in banks Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, II ed., CEDAM, 2021, pp. 205-219 (Chapter 18) and pp. 245-251 (Chapter 21).

Settimana 8

Group of companies Management and coordination activity Legal entities as companies’ directors Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, II ed., CEDAM, 2021, pp. 191-202 (Chapter 17) and pp. 221-229 (Chapter 19).

Settimana 9

Listed companies Related partis' transactions Market abuse regulation Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, II ed., CEDAM, 2021, pp. 151-163 (Chapter 14) and pp. 283-294 (Chapter 24).

Settimana 10

Sale and purchase agreement Foreign direct investments screening mechanisms M&A strategy Dual-track process Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, II ed., CEDAM, 2021, pp. 51-59 (Chapter 5) and pp. 263-282 (Chapter 23).

Settimana 11

Cross-border transactions The just case for revocation of joint stock companies directors Fiduciary relationship between shareholders and management Readings: VV. AA., Commentaries and Cases on Italian Business Law, directed by A. Sacco Ginevri, II ed., CEDAM, 2021, pp. 175-190 (Chapter 16) and pp. 253-262 (Chapter 22).