Salvatore Providenti (partner), supported by Marianna D’Angelo and Camilla Zappia (associates), has assisted Banca Popolare di Bari in Amministrazione Straordinaria in organizing the extraordinary Meeting of Shareholders. The meeting, held on 29th June 2020, resolved to convert the Bank into an ‘S.p.A.’ (Joint Stock company) as well as to recapitalize it.
On this occasion, our Law Firm provided assistance in preparing all the documents necessary for the meeting of shareholders and for the collection of voting proxies through the Designated Representative and with the support of some Bank’s employees, as well as in keeping relations with institutions. On first call, the meeting was attended by more than 50% of the shareholders entitled to vote through the Designated Representative. 96% of attending shareholders voted in favour of the three items on the agenda.
While this outcome is expected to contribute to strengthening the Bank’s capital and governance, it also marks the beginning of a new recovery phase, in the best interest of the Bank’s shareholders, customers and employees, of local enterprises, and for the benefit of southern Italy’s economic growth.
