Two recent judgements deal with the issue in two different cases: the Court of Santa Maria Capua Vetere(17 February 2016) allows a partial payment of VAT, contrary to precedents of the Supreme Court and ofthe Constitutional Court, while the Court of Appeals of Bologna (24 December 2015) confirms that theVAT refund claim’s satisfaction depends on the value of the related assets

The case

Art. 57 para. 6-bis TUF (introduced by Legislative Decree No. 42/2012) provides for a special procedure of judicial liquidation of investment funds in an insolvency situation, where debts cannot be satisfied in full out of the fund’s assets, but does not state whether investment funds are eligible for concordato preventivo as an alternative to liquidation.

The issues

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

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