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ARTICLE · 17 MAY 2016

Italian Floating Charge Over Movable Assets

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Law Decree No. 59 of 3 May 2016 introduced a new and long-awaited security instrument in the Italian legal framework: a floating charge over movable assets.

ItalyFinance and Banking
A&O Shearman
A&O Shearman
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Law Decree No. 59 of 3 May 2016 introduced a new and long-awaited security instrument in the Italian legal framework: a floating charge over movable assets. The new security called "pegno non possessorio" is meant to strengthen the ability of Italian companies to get access to financings, introducing a more flexible security over all movable assets of a company.

Scope of the Security

The security can be granted by any company registered with the Italian Companies' Register to secure present or future obligations which are identified or can be identified up to a maximum secured amount.

The security can be provided by the principal debtor or any third party security provider.

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