Paolo Rainelli’s practice focuses on advising Italian and international clients on private and public mergers and acquisitions, corporate governance and insurance regulation, with significant experience also in real estate, inheritance, and contractual matters.

Paolo is Professor of Business Law at the Polytechnic University of Turin and regularly lectures at the Ph.D. and Master programs of the University of Turin, at the post-graduate School for Legal Professions, at ESCP Europe Business School and at the LL.M. in International Trade Law (organized by the ILO International Training Center). He is widely published in the areas of corporate and business law and has authored several contributions for the Italian law reviews Giurisprudenza Commerciale, Giurisprudenza Arbitrale and Giurisprudenza Italiana.

Paolo joined the firm’s Rome office in January 2006, relocated to the Milan office in 2008, and became counsel in 2020. Prior to joining Cleary, he was affiliated with Studio Rainelli from 2001 to 2005 and Studio Barra from 2000 to 2001, both based in Turin.

Selected Activities

  • Member of the National Executive Board, Association Internationale de Droit des Assurances (AIDA)
  • Member of the Editorial Boards, Giurisprudenza Commerciale and Giurisprudenza Arbitrale law reviews
  • Member of the scientific committees of AIDA (Lombardia) and NED Community
  • Visiting Fellow, University of Oxford, Georgetown University of Washington and Max Planck Institute of Munich (completed the GWU Munich IP Law Summer Program)
  • Academic Member, European Corporate Governance Institute (ECGI)


Chambers Global Practice Guide 2024: Corporate M&A (Italy)

DDL Capitali: Misure a Sostegno della Competitività del Mercato dei Capitali,” Cleary Gottlieb Alert Memo, March 2024

The Mergers and Acquisitions Litigation Review, 4th Edition, Italy Chapter, October 2023

Due Diligence for Private Acquisitions (Italy),” Practical Law, 2022

“Italy,” in European Securities Law, Third Edition, Oxford University Press, March 2021

SRD II: CONSOB modifica il Regolamento Parti Correlate e il Regolamento Emittenti,” Cleary Gottlieb Alert Memo, 2020

Due Diligence on Private Acquisitions in Italy,” Practical Law, 2020

Revised Rules on Italian Listed Company Capital Increases After the COVID-19 Outbreak,” Cleary Gottlieb Alert Memo, 2020

Revised Rules on Disclosure of Significant Shareholdings in Italian Listed Companies After COVID-19 Outbreak,” Cleary Gottlieb Alert Memo, 2020

Italy’s New Measures to Mitigate the Economic Effects of COVID-19,” Cleary Gottlieb Alert Memo, 2020

Coronavirus: new rules to hold the annual shareholders’ meetings,” Cleary Gottlieb Alert Memo, 2020

Italy, in Directors in the Twilight Zone V (co-authors G. Scassellati Sforzolini and F. Iodice), INSOL International, London, 2017

Towards Greater Transparency in International Arbitration: Recent Decisions by the ICC Court, in Giurisprudenza Arbitrale, 2016, 439

Il Provvedimento IVASS n. 17 del 15 aprile 2014, in AA. VV., Solvency II. Gestione olistica e dinamica della Compagnia di Assicurazioni (editor R. Pontremoli), Milan, 2016, 55

Weather Derivatives’ Regulation and Designation, in AA. VV., Cambiamenti Climatici, Catastrofi Ambientali e Assicurazione (editors S. Landini and G. Maracchi), Florence, 2015

Portatori di warrant e risarcimento del danno nella vicenda Telecom Tecnost, commentary to App. Milano, 24 febbraio 2015, in Giur. It., 2015

Abuso del diritto nel concordato “con riserva” (co-author R. Bonsignore), commentary to Trib. Milano, 22 ottobre 2012 and App. Milano, 21 febbraio 2013, in Giur Comm., 2014

Consenso e collegialità nella s.r.l.: le decisioni non assembleari, Giuffré, Milan, 2011

OPA obbligatoria: rassegna di orientamenti CONSOB, in Giur. comm., 2011, I, 621

Il regolamento Consob sulle operazioni con parti correlate: le linee fondamentali, in Il Nuovo Diritto delle Società, 2010, n. 12

Il trasferimento della partecipazione, in Le Nuove S.r.l. (editor M. Sarale), Zanichelli, Rome, 2008

Sospensione dell’esecuzione fallimentare in costanza di giudizio di divisione immobiliare, in Giur. Comm., 2004, II, 240


January 31, 2023
Speech at the seminar, “The composition of corporate bodies of insurance companies - Requirements for persons discharging managerial functions and self-assessment,” organized by Paradigma, titled “Professionality requirements and competence criteria”

May 6, 2022
Speech at the Arce conference organized by the Notary Council of Viterbo and Rieti, titled “Shareholders’ decision to carry out transactions with a significant impact on shareholders’ rights in LLCs”

June 13, 2019
Lecture at the Ph.D. program, “Diritto Persona e Mercato” at the University of Turin, titled “Monitoring functions in corporations”

October 12-13, 2018
Speech on “Corporate Governance of Insurance Companies” at the XV World Congress of AIDA in Rio de Janeiro.

October 18-20, 2017
Speech on “Recent Developments on Cat Bonds” at the AIDA International Conference of Singapore within the “AIDA Climate and Catastrophic Events Working Party”

September 25, 2017
Speech at the national conference on “Mediazione civile: valida risoluzione delle controversie anche in ambito sportivo” at the Politecnic University of Turin

November 3-4, 2016
Speech on Insurance Issues Relating to Self-Driving Vehicles at the AIDA International Conference of Vienna “Flood of Change: Insurance in Times of Change – Technology, Climate, Regulation”

March 17, 2016
Speech at the national conference “Il Caso Volkswagen Dieselgate” in Brescia

June 11, 2015
Speech on “Catastrophe Bonds” at the AIDA International Conference of Copenhagen within the 10th “AIDA Climate Change Working Party”

May 27, 2015
Speech at the conference “Solvency II - Gestione olistica e dinamica della compagnia di assicurazioni” at the Bocconi University of Milan

May 4, 2012
Speech on “Weather derivatives’ regulation: open issues and new opportunities for risk coverage products” at the AIDA international conference of Istanbul

March 30, 2011
Consorzio ABC

November 23, 2010
Operazioni con Parti Correlate