Contacts

After many news stories of recent years in terms of bankruptcy law, the Legislator has again intervened with the delegated law n. 155/2017 (so-called “Rordorf Reform””), mandating the Government to reform the area of businesses in crisis and insolvency.
This is a systematic reform aimed at introducing a single text for businesses in crisis containing a general reorganization of insolvency procedures, crises due to over-indebtedness and the system of privileges and guarantees.
The enabling act is a solution of continuity with respect to the previous text of 1942, intervening at the semantic level changing the normative language used by replacing the term “”bankruptcy”” with the term “”judicial liquidation”” (Article 2, letter a).
In the sense of making a broad distinction between financial crisis and economic crisis, referring the former to a situation of insolvency which tends to be resolvable, and the latter, to a situation of management of the firm&rsquo