The decision of the Court of Rovereto of 13 October 2014 and the Court of Bergamo of 26 September 2013 tookopposite stands on the issue of the allocation, for the purposes of the concordato preventivo proposal by the debtor, ofcash generated by future operation of the business following confirmation of the proposal.

The case

The institution of composition with creditors enabling business continuity (Article 186-bis of the Bankruptcy Law) and its impact on the legislative framework of public contracts (on the matter see “Composition with creditors enabling business continuity in public contracts”, June 2013, in www.nctm.it/wp-content/uploads/2013/11/CPCP) have given rise to contrasting applications of case-law, and as matters stand, the institution is often applied in different ways.

In order to assess whether or not an insurance company is in a state of insolvency, the yardstick to be used is not the same as for any other enterprise.

Il Trust è un istituto del sistema giuridico anglosassone di common law che regola, nell’interesse di uno o più beneficiari o per uno specifico scopo, molteplici posizioni giuridiche basate su legami fiduciari.

La Corte di Cassazione a Sezioni Unite è stata chiamata a pronunciarsi, ex art. 374 c.p.c. co. 3, in merito alla possibilità di dichiarare il fallimento di un imprenditore in pendenza di procedura di concordato preventivo aperta nei suoi confronti. Infatti, la Corte di Cassazione, sez. I civile, con ordinanza interlocutoria 7 febbraio – 30 aprile 2014 n. 9476, non condividendo il precedente orientamento delle Sezioni Unite n. 1521/2013, ha rimesso la decisione alle Sezioni Unite, affinché venga emessa la decisione del ricorso.

With judgment No. 10105 of 9 May 2014, the Italian Supreme Court of Cassation ruled that trusts can be recognized inItaly, when the settlor is insolvent, only if they are consistent with the purposes of the procedure.

The Case

With judgment No. 5945 of 11 March 2013, the Italian Supreme Court of Cassation addressed a key issue under EC Regulation No. 1346/2000: the location of the “center of main interests” (COMI) of the company according to factors recognizable by third parties.

The Case

The Court of Milan with a decision on 28 May 2014 addressed some heavily debated legal issues: the Bankruptcy Courtmay authorize the debtor to terminate credit facility agreements when the debtor submitted a pre-filing for concordato preventivo (known as “concordato con riserva”)?

The Case

The Tribunal of Milan with a decision of 12 June 2014 took a stand which is in sharp contrast with mainstreamcase-law, with respect to clauses – widely used as common practice in distressed assets deals as part of“concordato preventivo” restructurings based on an interim lease of business period while the insolvencyproceeding is pending – allowing the lessee to apply rental fee payments to the final purchase price of the business,once the “concordato” is confirmed and the sale can take place