Italy’s New Insolvency Code
On January 10, 2019, the Italian Government enacted a new bankruptcy code that will replace large swaths of Italy’s insolvency legislation, taking into account the recommendation of the European Commission of March 12, 2014, on business failure and insolvency, which in turn formed the basis for the draft EU directive on preventive restructuring frameworks currently under discussion. The Code also amends certain important aspects of Italian corporate law.
We reviewed and discussed the main changes introduced by the Code and its impact on restructuring proceedings and transactions.
The seminar was part of the Cleary Corporate Breakfast series and took place at the Rome office and the Milan office.