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Aug 22, 2012

The Italian Legislature Confirmed the Reform of Italian Bankruptcy Law: Highlights on Refinements and Clarifications to the New Rules on Restructurings

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On August 3, 2012, the Italian Parliament converted into Law the Law Decree of June 22, 2012 containing new rules on restructuring proceedings aiming at reforming the Italian Bankruptcy system by increasing its efficiency and facilitating the reorganization of distressed debtors. The general framework and key principles of the reform set out in the Decree have not changed. However, the Legislature has refined certain procedural elements and clarified other key aspects of the Reform, including amendments to the early automatic stay procedure to avoid the filing of petition aimed only at deferring the debtor's insolvency, new procedures regarding voting on, or challenging the vote on, a plan of reorganization and new rules to further facilitate the granting of interim financing.

View full memo, "The Italian Legislature Confirmed the Reform of Italian Bankruptcy Law: Highlights on Refinements and Clarifications to the New Rules on Restructurings"

Authors and Contributors

Fredric Sosnick

Partner

Financial Restructuring & Insolvency

+1 212 848 8571

+1 212 848 8571

New York

Clifford Atkins

Of Counsel

Finance

+44 20 7655 5957

+44 20 7655 5957

London

Patrick Clancy

Partner

Derivatives & Structured Products

+44 20 7655 5878

+44 20 7655 5878

London

Caroline Leeds Ruby

Partner

Finance

+44 20 7655 5944

+44 20 7655 5944

London

Mei Lian

Partner

Finance

+44 20 7655 5963

+44 20 7655 5963

London

Solomon J. Noh

Partner

Financial Restructuring & Insolvency

+44 20 7655 5795

+44 20 7655 5795

London

Anthony Ward

Of Counsel

Finance

+44 20 7655 5000

+44 20 7655 5000

London

Winfried M. Carli

Partner

Finance

+49 69 9711 1000

+49 69 9711 1000

Frankfurt

Esther Jansen

Partner

Finance

+49 69 9711 1621

+49 69 9711 1621

Frankfurt

Pierre-Nicolas Ferrand

Partner

Finance

+33 1 53 89 71 77

+33 1 53 89 71 77

Paris

Tobia Croff

Partner

Capital Markets

+39 02 0064 1509

+39 02 0064 1509

Milan

Domenico Fanuele

Partner

Capital Markets

+39 06 697 679 210

+39 06 697 679 210

Rome

Fabio Fauceglia

Partner

Mergers & Acquisitions

+39 02 0064 1508

+39 02 0064 1508

Milan

Iain Goalen

Partner

Finance

+44 20 7655 5958

+44 20 7655 5958

London