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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.
Better payouts to all creditors.
Proposal is intended to address enforcement issues.
Public entities are exempt from bankruptcy, but not companies that are carrying out business, even though they are held by public agencies, according to recent decisions.
A clawback action based on Italian insolvency laws in a procedure opened in Italy can have wider limits when the transaction is governed by a foreign law.
Can the proceeds of future business activity be allocated to unsecured creditors in concordato preventivo, when secured creditors are not paid in full ?
The decision of the Court of Rovereto of 13 October 2014 and the Court of Bergamo of 26 September 2013 took opposite stands on the issue of the allocation.
In Italy, measures have been taken to preserve the continuity of operation of industrial plants of national strategic interest.
Can the admission to concordato preventivo be revoked if creditors, informed by the judicial commissioner of fraudulent acts, approved the proposal of the debtor?
The Italian Supreme Court ruled that the disclosure of acts in fraud carried out by the debtor causes the admission to concordato preventivo to be revoked according to Article 173 IBL, even in case of approval by the creditors.
The Tribunal of Milan with a decision of 12 June 2014 took a stand which is in sharp contrast with mainstream case law, with respect to clauses.
Group restructurings: one single group ‘concordato preventivo’ proposal, procedure and voting majority?
Two recent decisions of the tribunals of Ferrara and Palermo address some of the major issues involved in group restructurings under Italian insolvency laws.
Does EU Regulation No. 1346/2000 apply to a defendant not domiciled in EU in a claw-back action brought by the insolvency receiver?
Mr Schmid, the receiver appointed in an insolvency procedure commenced in Germany, brought before a German court a claw-back action against an individual, domiciled in Switzerland.
Bankruptcy and liquidation trusts: under what conditions can they be recognised in the Italian legal system?
The Italian Supreme Court of Cassation has ruled that trusts can be recognised in Italy, when the settlor is insolvent, only if they are consistent with the purposes of the procedure.
A debtor in a concordato preventivo pre-filing regime can suspend but not terminate agreements pursuant to bankruptcy law
Can the Bankruptcy Court authorise the debtor to terminate credit facility agreements when the debtor submitted a pre-filing for concordato preventivo?
The Italian Supreme Court of Cassation has addressed a key issue under EC Regulation No. 1346/2000: the location of the ‘centre of main interests’ of a company.
NCTM has been reorganising the leadership positions for its departments, resulting in new co-ordinators for its 12 departments, with Vittorio Noseda as the overall leader.
NCTM has assisted with the the closing of the complex restructuring of Edilmonte Roma, a company owned by the Ferro family.
NCTM has announced the internal promotion of four professionals who have excelled in their various areas of the law in the last few years.
NCTM has assisted La Gardenia Beauty, an Italy-based beauty and cosmetics retailer, with its restructuring following the entry of Fondo Orlando Italy into its share capital.
NCTM Studio Legale Associato has been chosen as the winner of the ‘Prize for Innovation’ award at the Legalcommunity 2014 Energy Awards.