DISMISSIONE DELLE PARTECIPAZIONI PUBBLICHE, INADEMPIMENTO DELLA SOCIETÀ PARTECIPATA E CESSAZIONE DELLA QUALITÀ DI SOCIO (nota a TRIBUNALE DI CATANIA Sezione specializzata in materia di impresa 7 gennaio 2025

Abstract

The judgment under examination constitutes one of the few judicial precedents concerning the obligation to divest public shareholdings, with particular reference to the position of the public shareholder in the event of non-compliance by the controlled company. Against the background of a legislative framework that lacks clarity and coherence — further complicated, in the present case, by the temporal succession of different regulatory regimes — the Court (Tribunale di Catania) reaches the unpersuasive interpretative conclusion that the shareholding lapses ope legis. Conversely, the conclusions excluding the assimilation of the divestment of public shareholdings to the legal concept of withdrawal appear convincing, as does the view that no shareholders’ resolution approving or authorising the divestment by the investee company is required