This guide provides a comparative analysis of certain key areas of law and procedure for those involved in or affected by financial distress of a corporation and the trading of distressed debt across Europe.
Our tracker contains an overview of changes made in light of the Covid-19 outbreak which impose restrictions on creditor rights, relax debtor obligations to file for insolvency or concern other insolvency-related issues. As you will appreciate, this is a dynamic situation, and both the measures announced and applicable legal framework will continue to evolve in the coming days, weeks and months
For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.
Recent Developments
Recent Developments
We are pleased to present this Summer 2011 edition of the CMS Restructuring and Insolvency in Europe Newsletter.
Recent Developments
Al fine di mantenere la sopravvivenza e la proattività delle imprese durante la crisi coronavirus, in data 1o aprile 2020 l’Autorità Garante della Concorrenza e del Mercato (AGCM) ha adottato una comunicazione[1] sull’interpretazione dell’art. 103 del c.d. “Decreto Cura-Italia”[2], con la quale vengono sospesi i pagamenti delle sanzioni tanto in materia di concorrenza quanto di tutela del consumatore.
Italy is already implementing the Directive (EU) 2019/1023 of the European Parliament and the Council of 20 June 2019 (the “Directive”), related to the preventive restructuring frameworks, discharge and measures aiming at increasing the effectiveness of restructuring, insolvency and discharge procedures, that Member States shall implement within 17 July 2021.
L’Italia sembra essere in netto anticipo nel recepimento della direttiva (UE) 2019/1023 del Parlamento Europeo e del Consiglio del 20 giugno 2019 (la “Direttiva”), riguardante i quadri di ristrutturazione preventiva, l'esdebitazione e le interdizioni, e le misure volte ad aumentare l'efficacia delle procedure di ristrutturazione, insolvenza ed esdebitazione, che gli Stati membri dovranno fare propria entro il 17 luglio 2021.
On 23 April 2018, the European Commission opened an in-depth investigation to determine whether the 900 million euro loan granted to the airline Alitaliacomplies with European Union rules for aid to companies in difficulty.