By the Law 155/2017, that became effective on November 14, 2017, the Italian Parliament required the Government to adopt, within the next 12 months, a comprehensive and organic reform of insolvency proceedings and rules governing a business crisis. The rules governing liens and security interests will also be reformed.

Although the reform will not be converted into binding law before the end of 2018, foreign lawyers and investors may be interested in knowing the guidelines in advance.