Ettore Maria
Negro_

Founder

AREAS OF EXPERTISE

  • Business and company law
  • Insolvency proceedings and restructuring
  • Banking and financial services
  • Litigation and arbitration

EDUCATION

  • Specialisation course “Il nuovo diritto fallimentare. Crisi d’impresa e continuità aziendale. Le novità del D.L. 22 giugno 2012 n. 83” (The new bankruptcy law. Businesses in distress and continuity. The changes introduced by Decree-Law no. 83 of 22 June 2012), Department of Private and Procedural Law, University of Florence, November 2012
  • Degree in Law, Catholic University of the Sacred Heart, Milan, 1988

PROFESSIONAL ASSOCIATIONS

  • Association of Insolvency Practitioners of Milan, 2017
  • Special register of barristers authorised to practice before the Supreme Court and Higher Courts, 2006
  • Milan Bar Association, 1994
  • Società Italiana di Studi Concorsuali (S.I.S.Co. - Italian Society of Insolvency Studies)

LANGUAGES

  • Italian
  • English

Ettore Maria Negro has continued to delve further in the study of corporate law and bankruptcy law since the start of his career.

He has handled major litigation and extraordinary corporate operations in some of Italy’s leading law firms.

In the field of corporate law, he has developed expertise in the study of the organisation and operation of corporations and, more specifically, has assisted in transactions such as those relating to shareholdings and the relationships between shareholders, companies and management bodies. He has considerable experience in proceedings concerning directors’ liability, shareholders’ agreements, shareholders’ meetings and the pledge of shares.

In the field of bankruptcy law and businesses in distress, Ettore has handled numerous debt restructuring operations and provided assistance in compositions with creditors, also thanks to the experience he has developed as judicial receiver.

He has provided assistance in liability actions against directors and auditors of bankrupt companies and in actions rescinding bankruptcy adjudications.

An additional area of experience is assistance in sanction proceedings by Banca d’Italia, Consob and the Supervisory Board of Financial Advisors and in appeals against their decisions.

Another practice area concerns the purchase of mortgage-backed UTP receivables for the purpose of acquiring the pledged real estate, including through securitisation transactions, as well as the sale of shares in real estate investment funds.

In the past, he has dealt extensively with litigation in the field of financial intermediation (liability of intermediaries; invalidity and issues with derivative contracts).

Lastly, he has also provided assistance in unfair competition proceedings, tenders, leases and international sales, supply and concession agreements (including in the pharmaceutical industry).

Academic appointments

From the 2009/2010 to the 2017/2018 academic year, he was adjunct professor at the Postgraduate School for the Legal Professions of the University of Parma, teaching Business Law, in particular on debt instruments and contracts for the acquisition of shareholdings. From the 2004/2005 to the 2005/2006 academic year, he was adjunct professor at the Postgraduate School for the Legal Professions of the University of Brescia, teaching techniques for drafting international contracts.

Court-appointed positions

He has been appointed administrator, judicial receiver and judicial liquidator by the Court of Milan in a number of insolvency proceedings. He currently holds positions in around 20 insolvency proceedings.

Publications

L’ammissione al passivo con riserva: i crediti condizionati e il credito del fideiussore escusso dopo la dichiarazione d’insolvenza (Allowance of claims in bankruptcy subject to reservation: conditional claims and guarantor’s claim enforced after the insolvency adjudication) in Crisi e risanamento, no. 26/2018

La cosiddetta “desistenza postuma” all’esame della Corte di cassazione (The so-called “posthumous withdrawal” under consideration by the Court of Cassation), in Fallimento, 3/2017, p. 305 et seq.

Proposte concorrenti, rinuncia alla domanda e revoca della proposta di concordato preventivo (Competing proposals, discontinuance of the proceedings and withdrawal of the composition proposal), in ilCaso.it, 12 February 2016)

Spetta all'intermediario accertare se l'investitore persona fisica sia operatore qualificato (The intermediary is responsible for ascertaining whether the natural person investor is a qualified investor), comment to Cassation, 27 October 2015, no. 21887, in ilsocietario.it, 14 December 2015

Modifiche statutarie dei diritti di partecipazione dei soci e diritto di recesso (Bylaw amendments to shareholders’ rights of participation and right to withdraw), comment to Court of Milan, 31 July 2015, in ilsocietario.it, 20 November 2015

Regole di condotta degli intermediari finanziari: gli obblighi di informazione (Rules of conduct for financial intermediaries: disclosure obligations), in Giur. Comm. 2005, II, 489

L’offerta fuori sede di prodotti diversi dagli strumenti finanziari e dai servizi di investimento (Door-to-door selling of products other than financial instruments and investment services), in Banca, Borsa e Tit. cred., 2001, I, 633

La procedura di approvazione del regolamento semplificato, in Novità in materia di Fondi comuni di investimento (The approval procedure for simplified regulations, in Changes in Mutual Investment Funds), Proceedings of the ITA S.r.l. Convention, Milan, 13 February 2001

Le trattative e la responsabilità precontrattuale, in Tecniche di redazione e di gestione dei contratti d’impresa (Negotiations and pre-contractual liability, in Techniques for preparing and managing business agreements), Proceedings of the ITA S.r.l. Convention, Milan, 14 and 15 September 2000

Sulla validità della sottoscrizione cambiaria apposta mediante timbro a stampa (On the validity of a promissory note signed with a stamp), in Giur. It., 1995, I, 2, 163

Brevi riflessioni su mandato in rem propriam e cessione di credito nel concordato preventivo (Brief considerations on agency granted in the interest of the agent and credit assignment in composition with creditors), in Giur. It., 1994, I, 2, 703

Insights_

6
7_
2021
News
Corporate governance of banks: update on Banca d’Italia’s supervisory provisions

Banca d’Italia has issued an update on the supervisory provisions concerning banks’ corporate governance (Circular No. 285/2013). The amendments are targeted at strengthening Italian banks’ governance structures and taking into account changes in European guidelines (the so-called CRD V directive and EBA Guidelines).


22
6_
2021
News
BANCA D’ITALIA DISMISSES SANCTION PROCEEDINGS AGAINST TWO OF THE FIRM’S CLIENTS

Negrolex, with a team led by Ettore Maria Negro and Donatella D’Ambrosio, has assisted two members of the Board of Directors of a well-known Italian bank in sanction proceedings brought by Banca d’Italia. Although at the conclusion of the preliminary investigation phase, the Institutional Relations Service proposed the application of a fine, Banca d’Italia’s Directorate (Governing Board), having assessed all the records of the proceedings, decided not to pursue the sanction procedure against the Firm’s two clients.


24
5_
2021
News
RESUMPTION OF PROCEEDINGS THAT HAD BEEN INTERRUPTED ON ACCOUNT OF THE BANKRUPTCY OF ONE PARTY

The Court of Cassation in Joint Sitting has intervened to resolve the conflict in case law that has arisen on the subject of the resumption of proceedings that have been interrupted by a supervening adjudication in bankruptcy.


30
4_
2021
News
PRE-DEDUCTION OF THE CLAIM OF A PROFESSIONAL WHO HAS PROVIDED THEIR SERVICES WITH A VIEW TO CARRYING OUT A COMPOSITION WITH CREDITORS

With order no. 10885/2021, published on 23 April 2021, the Supreme Court forwarded to the First President, for possible assignment to the Joint Sitting, the documents relating to the issue concerning the pre-deductibility (preference over creditors) of the claim of a professional who carried out his work to access a composition with creditors, which was not successful.


6
2_
2018
Publications
Allowance of claims in bankruptcy subject to reservation: conditional claims and guarantor’s claim enforced after the insolvency adjudication

The comment examines the case of the allowance of a claim in bankruptcy subject to reservation from the point of view of its framing within the insolvency rules and focuses on aspects relating to the allowance of conditional claims. In particular, the issue of the allowance of the guarantor’s claim, jointly and severally liable with the bankrupt, which is enforced after the insolvency adjudication, is addressed, and the different directions of case law and doctrine are illustrated.


13
3_
2017
Publications
The so-called “posthumous withdrawal” under consideration by the Court of Cassation

The order of the Court of Cassation comes after a conflict of case law on the substance - recent examples of which are given - concerning the effects of the petitioning creditor’s withdrawal after the adjudication in bankruptcy is pronounced. The Court held that the so-called “posthumous” withdrawal is ineffective, with very concise reasoning that does not reveal the logic behind the decision. The comment offers an interpretation that, while agreeing with the decision of the Court of Cassation, attempts to show that it is a necessary consequence of the effectiveness of the adjudication in bankruptcy.