GPD—represented by attorneys Prof. Andrea Gemma, Elisabetta Mattozzi, and Alessia Salamone—and attorney Claudio Giammarino prevailed at the Milan Commercial Court, securing the complete dismissal of the requests for seizure based on an alleged improper exercise of voting rights by the pledgee in accordance with a pledge agreement.

In particular, the Court found the claim that the pledge agreement was null and void due to a violation of the prohibition on forfeiture clauses to be unfounded, and also dismissed the claim under Article 2793 of the Italian Civil Code because the plaintiff was not the “grantor” of the pledge. Finally, the claim under Article 700 of the Italian Code of Civil Procedure was also dismissed due to the lack of the requirements of urgency and irreparable harm.