In Italian corporations and limited liability companies, the withdrawal right is provided by law when the entity has perpetual duration. Sometimes, case law and scholars hold that this right should exist also when the duration is very long, as happens in partnerships. However, in light of applicable rules and the general principles underlying them, this opinion is not valid. This article analyzes the evolution of the debate and finds a persuasive solution to the issue also in light of a comparative view.
Long-lasting Companies and the Withdrawal Right in Italy
paolo butturini
2021-01-01
Abstract
In Italian corporations and limited liability companies, the withdrawal right is provided by law when the entity has perpetual duration. Sometimes, case law and scholars hold that this right should exist also when the duration is very long, as happens in partnerships. However, in light of applicable rules and the general principles underlying them, this opinion is not valid. This article analyzes the evolution of the debate and finds a persuasive solution to the issue also in light of a comparative view.
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