Issues and perspectives of Italian law on groups of companies

The article addresses the issues and perspectives of Italian law groups of companies. The first part focuses on the conflict between contractual corporate law and enterprise law under Italian law, as well as on the age of the rise of corporate law and the current trend to expand the influence of Italian enterprise law. A discussion is then engaged on the difference between contractual and de facto groups of companies, as well as on the issue of the duty to exercise and implement direction and coordination powers, including as a result of the due diligence directive and the duty under Italian enterprise law to establish internal offices and procedures that are adequate to the nature and the size of the enterprise. Finally, the analysis deals with parent's company liability for damages as an alternative to piercing the veil, as well as on subordination of inter-company financing.