The Team


Francesco Pacileo

Of Counsel
Areas of Expertise

Corporate Law, Banking & Financial Markets Law, Insolvency Law, both at professional and academic level.

Professional Experience

Francesco joined Lawyalty in May 2017.

Before joining Lawyalty, Francesco collaborated with several international law firms and was partner at “Libera Actione” Law Firm.

During his professional career, Francesco has been involved in several complex legal matters related to his areas of expertise, both extra-judicially and judicially, for example: directors and auditors’ liability (including delayed assessment of insolvency); extraordinary corporate transactions; conflicts between majority and minority shareholders of Italian spa companies; issues related to companies’ subject; groups of companies; insolvency proceedings; supervision of banks’ activities; abusive granting of loans; SGR’s responsibility for managing investment funds; unfair commercial practices; commercial contracts; incorporation of companies and associations; non – implementation of EU Directives into national law.

Francesco strongly believes in the combination of academic learning and professional practical experience to achieve a “three-dimensional vision” of Law. Thanks to his academic background, Francesco is capable of carefully studying complex practical matters to rapidly find the best possible solution. When possible, Francesco draws upon foreign judgements and legislation to better articulate how domestic rules ought to be understood or applied.

Francesco’s watchwords are “work, fantasy, solidity and passion”.


Law Degree from University of Rome “La Sapienza”.

Ph.D. in Commercial and Economic Law from University of Rome “La Sapienza” – Thesis in Banking Law: ”Financial Conglomerates: Stability, Competition and Transparency (“Conglomerati finanziari: profili di stabilità, concorrenza e trasparenza”).  Postdoctoral researcher in Economic Law.

Visiting scholar at “Institut für Ausländisches und Internationales Privat- und Wirtschaftsrecht” (Heidelberg University, Germany).

Francesco has published several articles in prestigious legal journals and a book on the subject of “Business Crisis: Going Concern and Solvency” (“Continuità e solvenza nella crisi d’impresa”).

Professor of Commercial Law at the SSPL (Professional Specialist Programme) of the University of Rome “La Sapienza” and at “Scuola di formazione Professionale di dottore commercialista” of Perugia (ODCEC).

Francesco is also member of the editor board for the journal “Rivista del Diritto Commerciale e del Diritto generale delle Obbligazioni” (Commercial and Civil Law).

Francesco also attended a bi-annual course on European Law (“Corso biennale di Diritto comunitario”) at the “Arturo Carlo Jemolo” Institute, within the project “E.C. Law: primary tool for lawyers”, with the partnership of the European Commission – Justice and Home Affairs.

Francesco also attended an annual “Forensic and judicial career training course” (“Corso di preparazione alla professione forense ed alla carriera giudiziaria”) at the “Arturo Carlo Jemolo” Institute.

Bar Associations / Organizations

Member of the Rome Bar Association (“Albo degli Avvocati di Roma”) since 2004


Italian, English, German, French and Spanish

Recent Publications

(1) “Shareholders’ Cram Down and Safeguards in the concordato preventivo with Competitive Proposals” (Cram down e salvaguardie per i soci nel concordato preventivo con proposte concorrenti), in Riv. dir. comm., 2018, I, pp. 65-143; (2) “The “Shifting Boundaries” between Company Law and Insolvency Law in the Shareholders’ “Anomalous” Financing” (Le “mobili frontiere” fra diritto societario e diritto concorsuale nei finanziamenti “anomali” dei soci: spunti dalle recenti evoluzioni del diritto europeo e tedesco) in Nuovo diritto delle società, 2018, pp. 307-325; (3) Irresponsible Lending and Official Receiver’s Legal Standing: The Quibble of the Contributory Negligence between Bank and Company Directors (Concessione “abusiva” di credito ed azione del curatore fallimentare: il cavillo del concorso della banca nella mala gestio degli amministratori) in Banca, borsa, tit. cred., 2018, II, pp. 167-190:  (4) “Business Crisis: Going Concern and solvency” (Continuità e solvenza nella crisi di impresa), Milan, Giuffrè, 2017, p. 1-599; (5) “New Italian Code on Business Crisis and Insolvency” (“Il nuovo codice della crisi e dell’insolvenza. Appunti sparsi sugli schemi dei decreti legislativi di attuazione della legge delega” n. 155/2017, in, 2017; (6) “Information Duties and Freedom to conduct a business while managing an Italian spa company under a “Twilight zone” (Doveri informativi e libertà di impresa nella gestione di una s.p.a. in “fase crepuscolare”), in Riv. dir. comm., 2016, I, 69-115; (7) “Again about “insolvency status”. Notes to Article 5 of the Italian Insolvency Act and suggestions about the notion of “Overindebtness” according to L. n. 3 /2012 (Ancora sullo «stato di insolvenza ». Appunti sull’art. 5 legge fallim. e spunti sulla nozione di « sovraindebitamento » di cui alla l. n. 3/2012), in Dir. fallim, 2013, II, p. 43-73; (8)  “Consecutio between fallimento and concordato preventivo: from judge to legislator” («Consecutio» tra fallimento e concordato preventivo: dal giudice al legislatore, in Dir. fallim., 2013, II, p. 387-414; (9) “Non- performing loans: legal bank’s reporting requirements to Centrale dei rischi della Banca d’Italia”   («Sofferenze bancarie»: presupposti di legittimità della segnalazione alla Centrale dei rischi della Banca d’Italia»), in Giur. comm., 2010, II, p. 674-697; (10) “According to the Italian Supreme Court, investment funds do not have legal personality, while the “società di gestione del risparmio” have legal ownership of the fund’s assets – notes to Italian Supreme Court decision July 15, 2010 n. 16605” (Secondo la Cassazione i fondi comuni di investimento non hanno soggettività giuridica, mentre la società di gestione del risparmio ha la titolarità del patrimonio del fondo- note a Cass., 15 luglio 2010 n. 16605)in, 2010;