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Can the bankruptcy receiver terminate a commitment to sell property if the purchaser has already registered the court claim with the land registry?
Two court decisions, two conclusions...
The extent to which rules governing bankruptcy can be applied also to concordato preventivo.
Criteria for determining economic loss confirmed.
Receiver can terminate pending contracts...
Secured creditors’ deferred payment amounts to a partial satisfaction...
Lawmakers have introduced further measures in order to stimulate new loans after the pre-filing for concordato preventivo or for a debt restructuring agreement.
Creditors now being allowed to make competing concordato proposals means that the exclusive powers of the debtor are restricted.
Lawmakers made a few changes to the concordato rules with the foreseeable result of restricting significantly the access by debtors to the procedure.
No amendment to plan can now be made by debtor after voting.
The available remedies.
Other party to contract must always be heard on petition filed by the debtor, and other changes.
…in the interests of a company.
A debtor can cram down an agreement to dissenting minority lenders.
New rules for the competitive bid process aimed at the sale of the debtor’s assets.
Deductibility of losses on receivables and recovery of VAT when the debtor has entered into a debt restructuring agreements with creditors
According to Legislative Decree No. 175/2014, in case of defaulting transferee/ buyer, the transfer or/supplier is entitled to recover the VAT originally paid to the Treasury.
Enduring effects of an inadmissible concordato preventivo demand in the ensuing bankruptcy liquidation procedure?
The Tribunal of Reggio Emilia rejected the pleading in the proof of debt procedure of a creditor who requested its own post-concordato debt towards the then bankrupt company to be set off against its own pre-concordato receivable.
The Tribunal of Milan allowed a concordato preventivo proposal to be amended, providing that additional resources for the creditors could be made available through a lien on real estate property belonging to a shareholder of the company.
Can a debtor subject to a concordato preventivo pre-filing regime be authorised to sell some of its assets?
The ECJ has held a secondary insolvency proceeding in the member state where the debtor has its registered office may be opened at the request of creditors entitled under the law of that state.