The Supreme Court confirms in the recent decision No. 2538 of 9 February 2016 that the rules regardingthe effects of termination of a pending leasing contract, by choice of the receiver, cannot be applied tothe different case of termination for breach which has already occurred
The case
The Court of Milan (19 February 2016) adopts a restrictive approach and rules out that the special rulesprovided for concordato “preserving the business” (“concordato con continuità aziendale”) can applywhere the plan includes a lease of business arrangement
The case
The Court of Bergamo (23 December 2015) authorized a business lease agreement even though a previous public auction could not be held due to the urgency of the case, considering that the mandatory provisions of Art. 163-‐bis of the Italian Bankruptcy Law apply only if consistent with the “pre-‐ concordato” phase.
The case
The Court of Alessandria (18 January 2016) addressed a series of issues regarding various rules meant to allow preserving the business in the concordato preventivo procedure, sell the business through competitive bids, lease the business prior to the application to commence the procedure, "mixed" concordato schemes and objections which key continuing suppliers can raise for past debts
The case
The Italian Government started the legislative process for a comprehensive restatement of the whole set of rules of insolvency procedures, with specific innovative addresses regarding (to mention only the most important) the concordato preventivo procedure, venue rules, an out-of-court mediation alert process to timely address a risk of insolvency, new forms of security and a streamlined se
Il Governo prevede una riformulazione complessiva ed organica della disciplina delle procedure di insolvenza esistenti, sulla linea dell‘evoluzione più recente, con precisi indirizzi innovativi – tra i più rilevanti – in tema di concordato preventivo di gruppo e liquidatorio, concentrazione della competenza dei tribunali, composizione assistita della crisi, riordino dei privilegi e nuove forme di garanzia
Premessa
The bankruptcy process is often long and arduous for clients, whether debtor or creditor, and their counsel. Bankruptcy courts feel the pain, too. So, when we finally reach the glorious goal of plan confirmation, most revel in the conclusion of the plan process. Though often considered anathema, appeals of plan confirmation orders are sometimes pursued. Recognizing the public policy desire for finality in bankruptcy proceedings, the Eighth Circuit applies the “person-aggrieved” doctrine in determining whether an appellant has standing to appeal a plan confirmation or
Rare is the decision finding that bid rigging occurred. Recently, though, the United States Bankruptcy Court for the District of Connecticut uncovered a bid rigging scheme in connection with the sale of property in a Canadian arrangement proceeding. In re Sagecrest II LLC, et al., Case No. 08-50754 (Bankr. D. Conn. Dec.
Directive 2014/59/EU (the "BRRD” or Bank Recovery and Resolution Directive), establishing a framework for recovery and resolution of banks and investment institutions, was implemented in Italy with the Legislative Decree Nos. 180/2015 and 181/2015
Introduction
The Tribunal of Monza (12 October 2015) has adopted a broad application of second para. of Art. 56 of the Italian Bankruptcy Law which excludes – only for receivables non yet overdue – that a debtor of the insolvent may offset its debt against receivables which he has acquired after the declaration of bankruptcy or in the year before.
The case