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
The Court of Ancona (11 October 2016) ruled that the debtor can continue to draw from existing revolving facilities, to be considered as pending contracts that do not require an authorization by the Court
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 Court Monza decided upon a petition filed by the managing director of a company, after confirmation of a “concordato preventivo con continuità aziendale” proposal, seeking an authorization to perform certain acts not in the ordinary course of business.
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
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 Milan (18 April 2016) sticks to its own precedents mandating automatic termination, notwithstanding the recent decision of the Court of Cassation (19 February 2016, No. 3324) requiring that an actual prejudice for the creditors be ascertained
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 Tribunal of Milan allowed a concordato preventivo proposal to be amended, providing that additional resources for the creditors could be made available through a lien on real estate property belonging to a shareholder of the company.
The case
NCTM Studio Legale Associato assisted a company in filing and subsequently amending a concordato preventivo proposal before the Tribunal of Milan.
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