On May 3, 2016, the Official Gazette no. 102 was published the decree Law n. 59/16, launched by the government on April 29 (the "Decree") containing, inter alia, a series of measures to speed up the recovery of receivables. Those measures, designed primarily as a tool to support the management and recovery of NPLs, can be divided into:

(I) substantive measures. In this regard, it will be necessary to make reference to Articles 1 and 2 of the Decree which have been introduced and recognized in our sorting, respectively, the institute of "non-possessory lien" and "Transfer of property as collateral of real estate";

(Ii) procedural measures, in particular to streamline and shorten terms of recovery proceedings (bankruptcy and executive).