We are pleased to publish and share LMS Insolvency & Restructuring Team’s contribution for the Italian chapter in “Law & Practice” and “Trends & Developments” sections of Chambers Insolvency 2022 Guide.
As is well known, the two sections of the essay have different contents and aims, specifically;
– the “Law & Practice” section aims to provide clients with the legal insight required to make practical business decisions in key jurisdictions;
– the “Trends & Developments” section aims to provide clients with a concise account of any issues that are currently of note in the market and are valuable considerations for clients who wish to do business in the specific jurisdiction.
The essay fits in an historical period in which the Italian legislator (even if it is an EU-wide trend) is pushed in the most relevant legislative reforms by different and often antithetical forces – social, political and financial; the consequential output is that provisions of law appear to be, at the same time and in an apparently irreconcilable way, creditor oriented as well as debtor oriented; in ideal continuity with, and as an update to last year’s contribution, the current one sets as a goal to offer to its reader a very first and coincise analysis of the brand new Italian insolvency and restructuring system, also in consideration of the entry into force, last July 15th, of all the provisions contained in Legislative Decree No. 14 of 12 January 2019 (the “Crisis and Insolvency Code”).