The Recent Enhancements To The Italian Bankrtupcy Law

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On 15 June 2012 the Italian Government enacted the legislative decree known as decreto sviluppo (the “Decree”) that, among others, includes provisions enhancing the restructuring proceedings under the Italian Bankruptcy Law (“IBL”).

The purpose of this reform is to boost the restructuring and reorganization of stressed/distressed undertakings in order to better cope with the current financial crisis. To achieve this objective the Decree has leveraged on three main factors: flexibility of the process, reliability of the restructuring plan and fiscal appeal.

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Published In: Administrative Agency Updates, Bankruptcy Updates, Civil Remedies Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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