If an Issuer violates the rules, then Walliance has the right to terminate the existing contractual relationship by notifying the same Issuer pursuant to article 1456 of the Italian Civil Code. The violations may concern one or more of the following obligations set out in the General Conditions of Use:

  • falsehoods and/or omissions in the information and/or documentation transmitted to Walliance pursuant to articles 3, 5, 6, 8, and/or 9, without prejudice to the fact that, if Walliance has a well-founded suspicion of such a violation, then it may suspend the possibility of accepting the offer on behalf of the Users in order to protect the latter;

  • violation of art. 3.7;

  • failure to promptly execute the formalities pursuant to art. 13.3, and/or failure to notify Walliance on the basis of the provisions of the same article;

  • violation of art. 18.3 and 22.2.

If Walliance exercises the right to terminate per article 22 after the publication of the offer on the Portal and before the term of its duration, then the offer will be terminated without success, the Investors will be refunded of any paid fund, and informed of the campaign's failure. In such a case, Walliance will be entitled to demand an amount equal to €15,000.00 plus VAT from the Issuer for each violation as penalty pursuant to art. 1382 of the Italian Civil Code. This is without prejudice to compensation for any greater damage suffered by Walliance.

Did this answer your question?