The Supreme Court confirms in the recent decision No. 2538 of 9 February 2016 that the rules regardingthe effects of termination of a pending leasing contract, by choice of the receiver, cannot be applied tothe different case of termination for breach which has already occurred

The case

The Court of Cassation with the decision of 28 April 2015, No. 8575 ruled that no amendment to the concordato plan orproposal, even though more favourable to the creditors, can be made by the debtor after the end of the voting process,in a case, though, where the decision could have been influenced by the fact that the debtor himself had waived its rightto confirmation of the concordato proposal.

The case

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

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

The Court of Appeals of Turin (5 August 2016) and the Court of Milan (25 June 2016) deal with cases of bankruptcy and concordato preventivo of the assigned debtor and confirm a broad interpretation of the limit to set-off set forth by Article 56 second para. of the Italian Bankruptcy Law

The case

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