Another step towards a lender-friendly environment, but the new form of pledge is being delayed

The Italian Parliament passed law No. 155 of 19 October 2017 to delegate the Government to reform the rules on insolvency and financial distress. This has been commented widely in the press and between commentantors, as it is expected to bring about significant developments (we have previously reported here).

Nel quinto appuntamento con lo studio di Francesco Calabria sulla liquidazione dei fondi immobiliari, Francesco illustra gli strumenti di prevenzione e mitigazione delle responsabilità post liquidazione.

Stabilite le modalità con le quali si intende dare attuazione al programma di liquidazione di un FIA, il secondo passaggio fondamentale da effettuarsi a cura della SGR riguarda l’individuazione di appropriati strumenti di prevenzione delle responsabilità patrimoniali che potranno emergere successivamente alla chiusura della procedura di liquidazione.

Continua l’appuntamento con lo studio di Francesco Calabria sulla liquidazione dei fondi immobiliari. Nel quarto approfondimento, Francesco illustra il rapporto tra liquidazione e tipi di fondi.

Nel sesto appuntamento sulla liquidazione dei fondi immobiliari, Francesco Calabria ci parla delle questioni che hanno generato contenziosi sull’argomento.

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.

Introduction

Following approval by the Chamber of Deputies on February 1 2017 and the Senate on October 11 2017, Law 155 (the delegation law) was finally published in the Official Gazette on October 30 2017 and came into force on November 14 2017.

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La Cassazione 20 aprile 2017, n. 9983 conferma un proprio precedente secondo cui la banca può essere ritenuta responsabile per concorso nell’illecito, distinguendo la fattispecie da quella della concessione abusiva di credito

The Court of Cassation with the decision of 3 April 2017, No. 8632 ruled that the confirmation order of the Bankruptcy Court can be appealed, even when there were no oppositions to confirmation, if the Court unilaterally amended the proposal approved by the creditors

By a decree of the Italian Ministry of Economic Development (MISE) on 2 May 2017 the extraordinary administration procedure set forth by legislative decree No. 347/2003 (“Legge Marzano”) was started for Alitalia Società Aerea Italiana S.p.A., which has also been declared insolvent by the Court of Civitavecchia on 11 May 2017