CORPORATE | The Italian Supreme Court on the voluntary liquidation of quotas in usufruct

On 29 April 2024, the Italian Supreme Court issued its judgment in case No. 11357, ruling on the right of usufruct on the quotas of a limited liability company in voluntary liquidation. In particular, the Court stated that (a) the right of usufruct on the quotas is extinguished when the company is removed from the Companies’ Register, and (b) the sums obtained from the voluntary liquidation of the quotas constitute profit which accrues to the usufructuary, but only for the part exceeding the price paid for the purchase or subscription by the quota holder/bare owner of the quotas.

Newsletter n. 97 – June 2024