The Court of Florence (November 2, 2016) confirmed that the debtor can retain part of his assets, with a view to support the company’s recovery and in derogation to principles of liability of the debtor.
The case
A company applied for concordato preventivo, based on a plan providing for, on one side, the sale of those assets not functional to the business and, on the other side, the company to continue to trade retaining those other assets which were needed for the activities to be carried on.
The Court of Trento (3 May 2016) ruled that the judicial liquidator of the concordato is entitled to bring aclaim against directors and statutory auditors, although the claim is not considered by the liquidationplan and has not been approved by the shareholders of the company
The Case
The Italian Government started the legislative process for a comprehensive restatement of the whole set of rules of insolvency procedures, with specific innovative addresses regarding (to mention only the most important) the concordato preventivo procedure, venue rules, an out-of-court mediation alert process to timely address a risk of insolvency, new forms of security and a streamlined se
The Tribunal of Milan, with a decision of 5 May 2015, ruled that Art. 104-ter of the Italian Bankruptcy Law is applicable to the lease of business entered into before the declaration of bankruptcy and, therefore, the receiver can terminate pending contracts according to Art. 72 of the Italian Bankruptcy Law
The case
The Court with two recent decisions (6 April 2017, No. 8903 and 13 April 2017, No. 9547) confirmed that the Public Prosecutor is entitled to file for bankruptcy also in case he became aware of the insolvency in the course of a probe regarding other companies or individuals and within the concordato preventivo procedure.
The case
February 2017 N° 19 Fondo Atlante and the future for the financial institutions Tommaso dalla Massara Some news on insolvency procedures Fabio Marelli EU Commission first draft of ePrivacy Regulation Rocco Panetta Insurance Distribution Directive Guido Foglia ACROSS THE EUNIVERSE 2 In this Issue Editorial Giovanni Moschetta, Bernard O'Connor 3 What's App in Europe 4 Bernard O'Connor The next big thing for European data protection: EU Commission publishes first draft of ePrivacy Regulation to be discussed during GDPR transition period 6 Rocco Panetta, Francesco Armaroli Critical features of
The Court of Cassation (13 June 2016, No. 12120) confirmed that a limited liability company can bedeclared bankrupt, if it is found that the company is a partner of an insolvent de facto partnership
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 Tribunal of Modena with a decision of 6 June 2015 stated that a supplier can not refuse to perform its obligation and ask for the payment of previous claims by raising a non-fulfilment of the debtor’s obligations objection. Payment of such claims can then be made only after confirmation of the concordato by the Court.
The case
The Court of Padua (15 June 2017) ruled that, in the procedure provided by Legislative Decree No. 270/1999, the three-year statute of limitations period provided by Art. 69-bis of the Italian Bankruptcy Law starts from the declaration of insolvency and not from the authorization of the plan for the sale of the business
The case