The prohibition of Riba under Italian law
As known the prohibition of Riba is central to Islamic finance. All transactions and contracts must be free from elements of Riba. The word Riba literally means increase. However, in debt transactions the word ‘interest’ is generally understood as Riba. Interest is the excess amount which a c...
Participative Financial instruments: An Italian approach to Sukuk? (Part III)
As mentioned in the previous articles in this series, the terms and conditions of the issuance of participative financial instruments (PFIs), ie financial instruments which exclude a right of reimbursement of the holders, must be set out by the company’s bylaws along with the rights tha...
Restructuring & Turnaround – October 2018
In this issue we address a groundbreaking decision of a lower Court, ruling that a company has a super-priority claim, in the insolvency liquidation of a shareholder, for equity payments previously committed. We address then two decisions regarding concordato procedures: the first,...
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