Ilva is the largest steel plant in Europe with a factory in Taranto and a century-old history, which began in the early twentieth century on the initiative of a group of industrialists from Northern Italy.
The plant is one of the flagships of the Italian economic boom, giving jobs and creating wealth and employment.
In our Country Report in the Winter Edition of eurofenix 2018/19, we anticipated that the Code of Business Crisis and Insolvency was in the process of being finally approved.
The Code of Business Crisis and Insolvency was introduced by Legislative Decree n°14 of January 12, 2019, published in the Official Gazette dated February 14, 2019, and implements the Law n°155 of October 19, 2017 - the contents of which was drafted by the “Rordorf Commission”, established by the Minister of Justice by a Decree dated October 5 2017.
On 8 November 8 2018, the Council of Ministers approved the Legislative Decree implementing the Law 155/2017. It consists of 390 articles, divided into four parts:
Recently, the attention of the financial–economic world has focused on non-performance loans, (hereafter NPL).
The term “NPL” stands for bank loans emerging from mortgages, loans and funding, difficult to recover due to a worsening of the economic and financial situation of the debtor, no longer able to perform all or part of his/her contractual obligations.
On 11 October 2017, the Italian Senate approved the final version of a law aimed at systemically reforming Italian insolvency law, which fundamentally dates from 1942. Law no.
On 11 October 2017 the Senato della Repubblica approved the final version of a law aimed at systemically reforming Italian insolvency law, which in its fundamentals dates back to 1942. Law no. 155/2017 (‘the act’) has been published on the Gazzetta Ufficiale on October 30, 2017 , and entered into force on 14 November 2017 (Year 158, No. 254). This reform is based on the preparatory work of the ‘Rordorf Commission’, a group of experts appointed by the Ministry of Justice in January 2015 with the task of writing a reform proposal to modernise insolvency statutes.
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