Italy: New Code of Company Crisis and Insolvency is close to being approved by Giorgio Cherubini and Giovanna Canale

On 8 November 8 2018, the Council of Ministers approved the Legislative Decree implementing the Law 155/2017. It consists of 390 articles, divided into four parts:

  • Part I: Crisis and insolvency Code
  • Part II: Changes to the Civil Code
  • Part III: Guarantees for buyers of buildings to be built
  • Part IV: Final and temporary provisions

The purpose of the Legislative Decree is to reform the insolvency system by providing a systematic and organic framework, thus overcoming the discontinuous and fragmented approaches that had characterised the reforms of the provisions which took place in the last 15 years.