Published in the Official Gazette of 20 August 2015, n. 192 the text of Decree. 83/2015 (coordinated with the conversion law on Aug. 6, 2015, n. 132) entitled: "Urgent measures for bankruptcy, civil and civil procedure and the organization and functioning of the judiciary.". The measures stem from a common principle: a company with problems likely to drag along other companies (suppliers of goods and services and financial intermediaries) continuing to contract obligations that can not meet. Promptly address cases of corporate crisis can limit the losses of the economic fabric, both in size strictly business both financially, or to restructure the company, with benefits in terms employment and, more generally, safeguarding the economic contiguous. Recent reforms seek to overcome the competitive disadvantage of our country due to the excessive duration of the recovery time of credit through the introduction of terms infraprocedimentali to settlement by the Curator and the possibility of closing the bankruptcy proceedings on slopes of judgments. Insolvency and bankruptcy proceedings is dedicated Title I Articles. 1-11. The law amends the Bankruptcy Act Royal Decree of 16 March 1942 n. 267 in order to: facilitate the raising of financial resources by the entrepreneur in crisis; encourage the submission of alternative offers compared to the plan agreed to purchase the company or a branch or specific assets; make it possible for creditors, under certain conditions, the presentation of proposals agreed alternatives to the one presented by the entrepreneur. They have changed the requirements for the proposed arrangement and the obligations of the judicial commissioner, and the basis for agreement with the proposal. In particular: the proposed arrangement must meet - if it is not agreed with business continuity - at least 20% of the unsecured debts. With the aim of speeding up procedures and assurance impartiality can not 'be appointed curator who, at any time, contest the collapse of the company. It will also be set up at the Ministry of Justice of a national register confluence, as well as measures for the appointment of receivers, liquidators and also those of the commissioners court and have noted the outcome of the bankruptcy proceedings. For the establishment of the register has authorized the expenditure of € 100,000 for 2015. The trustee for the liquidation of assets, can 'lean companies specializing in the sale and were more stringent procedural deadlines (settlement program within 180 days . the judgment declaring bankruptcy, liquidation of assets of the bankrupt within 2 years), whose non-compliance may result in the revocation of the curator. It 'was provided for revocation on disposal of assets subject to any gratuitous acts done by a debtor in the two years prior to filing for bankruptcy therefore come back to be part of the assets of the bankrupt. The process of bankruptcy may 'be closed and the assets can' be broken down even when there are pending lawsuits; it will be the curator aside the amounts necessary to cover the costs. Even judges should prioritize from lawsuit settlements in which the failure and the judge can not 'liquidate advances in favor of the trustee until after at least a partial distribution. It is also introduced a provision in reference to debt restructuring aimed at depriving banks that boast small claims the power to ban in relation to restructuring agreements that see membership of the creditor banks most exposed. The new provision states that the agreement of debt restructuring can be completed if you adhere financial creditors representing 75% of the credit for the class, subject to the full payment of the financial creditors

Source: Il Sole 24 ore

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