NCTM

European Top 100 position: 42

‘Concordato preventivo con continuità aziendale’ and public contracts

The procedure of composition with creditors aimed at business continuity (‘concordato preventivo con continuità aziendale’, provided by art. 186-bis of the Bankruptcy Law) has a major impact on the rules governing public contracts, above all with reference to the requirements requested both for the participation of economic operators in public tender procedures and for their capacity to enter into agreements with public entities.

Indeed, partially modifying the previously applicable regime, the introduction of composition with creditors aimed at ensuring business continuity (the procedure) leads to new and different prospects in the management of enterprises in situations of crisis and in the corporate rescue, because it implies that the opening of the composition procedure is no longer an impediment to the award and execution of public contracts…

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Jurisdiction: Italy