After more than a decade from the reform of the Italian company law, several inconsistencies had emerged and the revised provisions on company arbitration do not make an exception. Company arbitration as designed by the reform of company law of 2003 and by the new provisions on arbitration introduced in 2006 has been regarded as an «oxymoron» as, on one hand, it broadens the arbitrable matters, strengthens the effectiveness of the arbitration agreement, increases the powers of the arbitrators and clarifies that some forms of interim relief might be requested in company disputes but, on the other hand, raises an all new set of issues that, in some cases, still need to be addressed. This is the case of arbitration clauses that were included in the bylaws before 2003 and can be held invalid as far as they do not provide for an appointing mechanism where all arbitrators are designated by an independent third party. This article aims to provide an overview on substantial and procedural aspects of company arbitration in Italy and to highlight the still pending issues and the perspectives of future reforms.