Sala, Noro e Associati, with a team led by partner Filippo Sala, has been appointed advisor for the negotiated crisis settlement procedure by Health Care Service Group s.r.l., a company operating in the nursing home sector.
Category: News
● Hall, Noro and Associates obtains the annulment of a tax assessment concerning cross-border dividends
Sala, Noro e Associati, with a team led by partner Stefano Noro, obtained the annulment in self-defense of a complex and important assessment regarding dividends received by an Italian individual from a Swiss company, in which the Agency had erroneously classified them as "black list."
● Hall, Noro and Associates in the merger between Franchi Maggi s.r.l. and Scot s.r.l.
Sala, Noro & Associati, with a team led by partner Stefano Noro, assisted Franchi Maggi s.r.l., a real estate company, in the acquisition and merger by incorporation of Scot s.r.l. of Milan.
● Hall, Noro and Associates with La Tecnogalvano s.r.l. in the acquisition of Polar Chimica s.r.l.
Sala, Noro & Associati, with a team led by partner Stefano Noro, assisted La Tecnogalvano s.r.l., a company operating in the electroplating sector, in the acquisition and merger by incorporation of Polar Chimica s.r.l. of Spresiano.
● Hall, Noro and Associates in the acquisition of the company 2 Rive s.r.l. of Baveno
Sala, Noro & Associates, with a team led by partner Stefano Noro, assisted an entrepreneurial family from the VCO area in the acquisition of 2 Rive s.r.l., owner of the Hotel Holiday Residence tourist accommodation facility.
● Filippo Sala appointed as expert in the CNC procedure of EPARCO s.r.l. in Invorio
Filippo Sala has been appointed by the Turin Chamber of Commerce as an expert in the negotiated settlement procedure for the crisis at Eparco s.r.l. in Invorio.
● Sala, Noro and Associates with the Pizzoni family in the acquisition of two commercial activities in Arona
Sala, Noro & Associates, with a team led by partner Stefano Noro, assisted the Pizzoni family in acquiring shares in Raf Management s.r.l., owner of two businesses in the food and beverage sector in Arona.
● Stefano Noro speaker by Banca Mediolanum/Verbania Industrial Union/Verbania Association of Accountants on generational transition
The conference "RECENT DEVELOPMENTS IN THE GENERATIONAL TRANSFER OF COMPANIES AND ASSETS" was held at the Hotel Regina Palace in Stresa. Stefano Noro was a speaker, illustrating all the tax changes that have affected the subject over the last two years.
● Sala, Noro e Associati obtains annulment of a tax assessment by contacting the Taxpayer Ombudsman
Sala, Noro e Associati obtained the annulment of a registration tax assessment, which was clearly oppressive towards the taxpayer, by appealing to the Lombardy Taxpayers' Ombudsman and obtaining a decree which the Revenue Agency complied with.
● Sala, Noro and Associates with the partner of Guido Ammirata s.r.l. In the revaluation of the share for the sale to the French group VLAD
Sala, Noro e Associati, with a team led by partner Stefano Noro, assisted the shareholder of Guido Ammirata s.r.l.-a Milanese company that is a leader in the Italian market for the distribution of special lamps-in the share revaluation appraisal and in some tax aspects of the sale to the French group VLAD.
● Sala, Noro and Associates in the sale of a minority stake in Palzola s.r.l.
Sala, Noro and Associates, with a team led by partner Stefano Noro, assisted a minority shareholder of Palzola srl - a Novara-based gorgonzola producer - with the share revaluation appraisal and in the tax aspects of the sale.
● Sala, Noro and Associates with Eredi Fantini in the liquidation of the share of the company Master s.r.l.
Sala, Noro and Associates, with a team led by partner Stefano Noro, assisted the heirs of Rag. Marco Fantini - an accountant with the Verbania Bar Association - in the liquidation of the share of Master s.r.l., a data processing company in Omegna.
● Bussi Sala Noro with Vco Trasporti spa In the evaluation for the acquisition of Comazzi ltd.
Bussi, Sala, Noro, with a team led by partners Roberto Bussi and Stefano Noro, assisted VCO Trasporti spa-a leading public transportation company in VCO-in the accounting and tax due diligence of Comazzi s.r.l.
● Sala, Noro and Associates with Lavesan spa In the sale to the French group Gazechim Composites.
Sala, Noro e Associati, with a team led by partner Stefano Noro, assisted Lavesan spa - a Trentino chemical company - with the appraisal of the revaluation of shareholders' shares and in some tax aspects of the sale to the French group Gazechim Composites
● Bussi Sala Noro in community corporation transfer of a major property on Lake Maggiore
Bussi, Sala, Noro, with a team led by partners Roberto Bussi and Stefano Noro, assisted the partnersof the Luxembourg company Belcanfora S.A., in the tax aspects of the transfer of an important property on Lake Maggiore into an EU company.
● Interview by Filippo Sala in Milano Finanza the trust and the advantages in the generational transition
The trust: a tool for forward-looking entrepreneurs
The trust allows for forward-looking entrepreneurial planning of the transfer of assets and business management, putting the settling entrepreneur in a position to have the necessary time to designate his successor with a governance that guards against family dynamics and ensures not only full operational continuity for the company but also preserves its founding values.
This is discussed in the September 9 Milano Finanza article in which FilippoSala, founder partner of Studio Sala Noro e Associati, also illustrates what the advantages and prospects are.
● Sala Noro and Associates: the point on the New Crisis Code Reports from qualified operators
The Decree, on the one hand, has intervened by specifying in Article 3 that the collective entrepreneur must adopt an adequate structure not only of organization, but also of administration and accounting. It can be said, in other words, that the need for an accounting, finance and control structure is codified.
In addition, the Decree establishes the purposes of measures and the criteria of arrangements; measures and arrangements, for the purpose of timely detection of business crisis, are understood to be "suitable" and "adequate," respectively, if they enable:
- (i) detect any imbalances of an equity or economic-financial nature, related to the specific characteristics of the enterprise and the business activity carried out by the debtor;
- (ii) verify the sustainability of debts and the prospects for business continuity for at least the next 12 months and detect the signs referred to in paragraph 4 (referred to below); and
- (iii) derive the information necessary to follow the detailed checklist and conduct the practical test for the verification of the reasonable pursuit of recovery, pursuant to the new Article 13(2) CCII.
It should be noted that the second criterion also follows from the new definition of "crisis." In general, the clear purpose emerges that the arrangements intended by the law primarily oblige the company to check the DSCR, noting whether there is excess debt or scarcity of cash flows to service debt.
As a result of the adjustments made by the Decree, pursuant to Article 3(4) CCII, the following constitute signals:
- (a) the existence of payroll debts overdue for at least 30 days equal to more than half of the total monthly payroll amount;
- (b) the existence of payables to suppliers that are at least 90 days past due in an amount exceeding the amount of payables that are not past due;
- (c) the existence of exposures to banks and other financial intermediaries that have been past due for more than 60 days or that have exceeded the limit of credit facilities obtained in any form for at least 60 days, provided that they represent in the aggregate at least 5 percent of the total exposures
- (d) the existence of one or more of the exposures owed to the IRS, INAIL and INPS in the thresholds stipulated in the new Article 25-novies, first paragraph, CCII.
● FAMILY HOLDING: Filippo Sala explains what it is And when to do it...
The choice to create a family holding company is still poorly understood by most entrepreneurs. Yet it is a strategic solution that can play a key role in the life of a family business. It allows its assets to be protected and better managed as it grows and evolves, perhaps by adding new business segments and family members.
The family holding company is an institution that can have an advantageous impact both tax-wise and with a view to proper planning for the generational transition. Indeed, the latter is one of the most insidious obstacles to the future of a family business, as it is often dominated by emotion rather than rationality.
The transfer of ownership and control of assets from one generation to the next involves important cultural, relational and technical issues. Succession is capable of destabilizing established balances, so it requires great foresight, a strategic approach and clear thinking.
The establishment of a family holding company, in addition to providing a more effective management structure, can facilitate the achievement of a common will among several heirs.
❎ WHAT ARE THE BENEFITS AND WHEN TO DO IT
❎ What is a family holding company and what benefits it can offer
A family holding company is a company controlled by members of the same household. Usually, it is a limited liability company model, as it provides greater protection, but it is possible to establish it with any legal form. The choice depends on the context and specific needs.
❎ The main features of a family holding company are very significant from an asset protection and governance point of view:
- the shareholders are members of the family or the same family branch;
- control of the holding company is in the hands of the founding partners (or the founder);
- shareholdings held in the companies belonging to the group contribute to the holding company;
- any family conflicts are handled at the holding company level and are not reflected in the various group companies;
- the holding company has direct and unified control of the subsidiaries, and this ensures stable governance;
- corporate governance choices can be assigned to one or more individuals outside the family;
- through the stipulation of specific clauses in the articles of association, which recognize special rights, and/or shares with multiple or limited voting rights, a specific ownership structure can be guaranteed and certain aspects relating to shareholders and the inclusion of future generations can be regulated.
Thus, placed at the top of a group, the holding company is a legal institution that allows it to carry out a directive and coordinating activity vis-à-vis other companies, whose capital control and shareholding management it holds. As a result, particularly when in the presence of entities belonging to different branches of the family, it ensures a more streamlined operation unencumbered by possible disagreements among shareholders.
Often, the holding company concept is associated only with large multinational corporations. In reality, there is nothing to prevent family-owned SMEs from taking advantage of the many benefits it offers, both in terms of favorable tax treatment and the organization and family governance of assets.
● Legal Ranking 2023: Hall, Noro and Associates Among the excellence in consulting according to Milan Finance
We are particularly proud that our firm has been included by Milano Finanza in the MF Italian Legal Ranking 2023 among the most qualified Advisors. It is recognition of the quality of our daily work aimed at problem solving for our clients.
● Tax Reform for Businesses: Introduction by Stefano Noro at the Conference in Verbania speaker Alberto Gusmeroli
A conference entitled "THE TAX REFORM FOR BUSINESSES" was held in Verbania at the headquarters of the Industrial Association with an outstanding speaker Hon. Alberto Gusmeroli, rapporteur of the government's enabling act on tax reform.
The conference was introduced by Engineer Michele Setaro president of the VCO Industrial Association and Dr. Stefano Noro president of the Verbania Association of Accountants.
