This chapter is taken from Lexology GTDT’s Practice Guide to Franchise, examining key themes topical to cross border franchising.
Introduction
With two decisions (No. 1895/2018 and No. 1896/2018), both filed on 25 January 2018, the Court of Cassation reached opposite conclusions in the two different situations
The case
The Constitutional Court (6 December 2017) confirmed that Art. 147, para. 5, of the Italian Bankruptcy Law does not violate the Constitution as long as it is interpreted in a broad sense
The case
With the decision No. 1195 of 18 January 2018, the Court of Cassation ruled on the powers of the extraordinary commissioner to require performance of pending contracts and on the treatment of the relevant claims of the suppliers
The case
The Court of Cassation with a decision of 25 September 2017, No. 22274 confirms that Art. 74 of the Italian Bankruptcy Law provides a special rule, which does not apply to cases to which it is not explicitly extended
The case
With the decision No. 1649 of 19 September 2017 the Court of Appeals of Catania followed the interpretation according to which a spin-off is not subject to the avoiding powers of a bankruptcy receiver
The case
The Supreme Court of Cassation (19 October 2017, No. 24682) discerns the respective scope of application of the criteria for the liquidation of compensation to the lawyer in case there was no specific agreement between the parties
The case
Amendment to Bankruptcy Rule 3002
Certain amendments to the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”) will become effective in all cases commencing after December 1, 2017.1
The amendment to Bankruptcy Rule 3002 is significant. As explained in detail below, the amendment does the following:
The Bankruptcy Code gives secured creditors certain rights and protections. For secured creditors whose collateral is worth more than the creditor’s claim, these rights may include payment of attorney’s fees and post-petition interest at a rate agreed to in the debtor’s and creditor’s prepetition agreement. A chapter 11 bankruptcy plan, however, may have provisions in it that expressly takes away a secured creditor’s right to post-petition interest.
The case
The receiver of a bankrupt joint-stock company sued its directors before the Court of Rome, in order to ascertain their liability, pursuant to Article 146 of Bankruptcy Law.
More precisely, the bankruptcy was considered the result of a transaction particularly burdensome with respect to the company’s share capital and unjustified in relation to the economic value of the block of shares acquired.