Where the company and the directors have submitted to arbitration every dispute relating to the liability of the latter, the derogation from ordinary jurisdiction and any arbitral award are opposable also to the liquidator of the supervening bankruptcy, albeit limited to the corporate action for liability pursued pursuant to Article 146 of the Bankruptcy Law.
A statutory arbitration clause is not opposable against corporate creditors, persons who are third parties in respect of the articles of association, with the consequence that the jurisdiction of the tribunal to hear the action for liability of creditors pursuant to Article 2394 of the Civil Code exercised against the directors remains, notwithstanding the presence of an arbitral clause which devolves to arbitrators disputes relating to the corporate relationship.