Considerazioni sistematiche sulla c.d. supersocietà di fatto

The paper faces the issue of “piercing the corporate veil”, in case of insolvency of corporation (S.p.A. and S.r.l.) and fraudulent trading by directors of the company, especially when the capital assets are insufficient and the business activity is oriented to defraud creditors. In these cases a current of italian jurisprudence aims at a “substantive consolidation”, shaping a “de facto partnership” between the legal entity and the people who control or manage the company and extending in this way to several subjects the declaration of bankruptcy. The study criticizes the decisions of Italian Supreme Court from the point of view of corporate law, emphasizing the contadictions with the rules of Civil Code in the field of corporate liability and enterprise groups.