Mese: Marzo 2023

Italy blocks Russian-backed investment in cloud services provider: Filippo Mazza interviewed by GCR

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The case is relevant and is holding the headlines in national and international newspapers.

Global Competition Review as well featured an article on the ‘golden power’ exercised by the Italian government to block the acquisition of the company Tecnologia Intelligente by Nebius, a Dutch-based cloud services provider that seems to be supported by the Russian giant Yandex, Russia’s main online services provider.This is the first case of ‘golden power’ exercised by the Meloni government to block undesirable bids in sectors deemed to be of strategic importance.

Our Partner Filippo Mazza, interviewed on the point by GCR, said “this decision largely aligns with the government’s amendment of its golden power law to cover 5G and cloud services last (2022) March. While this is the first time Italy has blocked a deal since Meloni became prime minister, the government has largely been applying the golden power in the same way as it did under Draghi. It is not likely that her government’s approach will be drastically different. The government has been actively using its powers to intervene in foreign investment, including by imposing conditions on KKR and Global Investment Partners’ joint investment in Inwit, a leading 5G technology provider. It is also due to issue a final decision on the sale of Lukoil’s oil refining plant in Sicily to Cypriot private equity fi rm GOI Energy by30 June”.

The full article is available for subscribers at this link.

How today’s women are changing tomorrow’s work – Francesca Ricci in Dealflower’s special March 8 issue

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In Dealflower’s special issue dedicated to March 8, a survey was conducted among women in professional firms to find out what their opinions are regarding women’s presence in the working environment.

Among the interviewed was also our Francesca Ricci, who spoke about female leadership, gender gap, and pink transition.

“There is a lot of turmoil about diversity and inclusion issue on the professional firms front as well. It’s a need for change that arises from multinationals and is spreading to professional firms, which are being invited to become more aware and take effective measures on social and governance issues. It is a positive moment of growth, of intergenerational comparison as well, of study and in-depth analysis.”

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CSR and EU ESG Directives, corporate responsibility for sustainable economy expands

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On January 1, 2023, the Corporate Sustainability Reporting Directive, Directive (EU) 2022/2464, came into force, amending the previous non-financial reporting regime.

The CSRD aims to guide companies toward a more sustainable economy by expanding companies’ responsibility for their impact on society, respect for human rights, governance, and environment through sustainability reporting.

In practical terms, the EU legislature directs companies to take measures in order to achieve the following objectives: redirecting capital flows towards ESG investments for a sustainable and inclusive growth; managing financial risks derived from climate change, resource depletion, environmental degradation and social issues; and promoting transparency and long-term vision in economic and financial activities.

We discuss this in this in-depth analysis published by NT Plus Diritto of Il Sole 24 Ore, written by our Francesca Ricci, Tiziana Fiorella and Emanuela Burgio.

To read the full article click here: https://ntplusdiritto.ilsole24ore.com/art/direttiva-csr-e-normativa-comunitaria-esg-si-amplia-responsabilita-imprese-tema-economia-sostenibile-AEDM1TzC

How to recognise AI-written text? “Countermeasures” exist, but it’s a long way to go – Daniela De Pasquale’s in-depth analysis

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On Agenda Digitale, an in-depth analysis by our Partner Daniela De Pasquale about ChatGPT and generative AI detection systems.

Given the high-speed development of generative AI, some key issues remain unresolved to date, including the need to understand whether a text, work, diagnosis, research or judgment was written entirely or partially with an AI-originated text, or whether students can make use of it during written exams, distorting the results.

Hence, in recent weeks, the rush by industry to offer technological solutions answering the question of whether a certain text was generated by human beings or AI.

But how effective are these detection tools?

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Law Firms, female lawyers have taken off – Francesca Ricci in ItaliaOggi’s annual survey

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Today’s issue of ItaliaOggi features the traditional in-depth analysis by Antonio Ranalli about the presence of women in Italian law firms.

According to the survey, women are gaining increasingly prominent positions in law firms.

Among the lawyers mentioned, those who have most distinguished themselves during 2022 include our Partner Francesca Ricci, active in M&A, corporate law and capital markets.
The firm has appointed  four female partners since 2019 and more than a half of the associates are women.
Read the full article here

Ughi e Nunziante with Luigi Cascone to assist the City of Valencia in returning the “San Dimas” attributed to the Spanish master Juan De Ribalta

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Milan, 2 March 2023 – Last February 28 in Valencia, Spain, the return of the work of art that was stolen in 1979 from the church of San Miguel de los Reyes and that, thanks to Interpol, was found in the possession of an Italian citizen who claimed its purchase by adverse possession, was officially presented to the public. The work of art is now back in Valencia where it will be exhibited at the City Museum after some restoration work due to the damages suffered at the time of the theft.

Luigi Cascone, Partner of Ughi e Nunziante – Studio Legale, assisted the Municipality of Valencia in the long-lasting civil litigation, which began in 2008 before the Court of La Spezia (Italy) to claim ownership of the painting and ended in 2021 with the rejection by the Court of Appeal of Genoa of all the appeals filed by the other party to the ruling that in 2016 recognized the ownership of the painting to the Municipality of Valencia.

The judgment was then followed by the release phase from the criminal court, which concluded last Friday with the painting’s return to its city of origin. Also in this last phase, the Municipality of Valencia was supported by Ughi and Nunziante with a team composed, in addition to Luigi Cascone, of Counsels Carlo Delle Piane and Carmen Oriani and Associate Flavio Rodi.

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