On 24 October 2022, the Italian Supreme Court issued judgment No. 31402/2022, ruling on the shareholder's legal standing to object to the approval of a bankruptcy...

Three months have passed since the entry into force of the new Business Crisis and Insolvency Code, the result of a long journey, which began with Delegated Law No. 155 of 19 October 2017...

On 14 July 2023, the Italian Supreme Court issued its judgement in case No. 15475 ruling, inter alia, that it is not necessary for an action for revocation...

The Italian Tax Revenue Agency has recently refocused on several aspects of the tax debt restructuring process, including amending, in some cases, what was stated in Circular no. 16 of July 23, 2018.

The news that Alitalia, the Italian airline, is reluctantly taking the decision to file for bankruptcy is not entirely unforeseen.

The European Union's Directive (EU) 2026/799 introduces the pre-pack procedure to address the longstanding fragmentation of national insolvency laws across Europe, aiming to preserve viable businesses that would otherwise be dismantled due to timing mismatches between corporate crises and market reactions. This two-stage mechanism promises to reduce legal uncertainty and stabilize the EU single market, but raises critical questions about moral hazard, confidentiality, and the corporate governance structures

The CMS in Italy Banking and Finance Department, under the patronage of the British Chamber of Commerce for Italy, has published a valuable and innovative guide on the Italian reform of national insolvency and pre-insolvency procedures.

Italy recently enacted a new insolvency code (the "New Insolvency Code"), which takes effect August 14, 2020.

The Constitutional Court (6 December 2017) confirmed that Art. 147, para. 5, of the Italian Bankruptcy Law does not violate the Constitution as long as it is interpreted in a broad sense.

Preferential right with regard to the credit accrued by the attestor who drafted the documents that allowed the debtor to gain access to a pre-bankruptcy procedure

With order no. 15695 published on June 5, 2024, the Court of Cassation clarifies the qualifying elements of the purpose loan contract, thereby defining the characteristics of the institution.

New Insolvency Rules for Cross-border Matters aimed at keeping the Creditors and the troubled Business on Course came into force in June 2017.

Court proceedings are not interrupted despite the declaration of insolvency if the respondent voluntarily appears in court.

The Italian government has postponed again the entry into force of Legislative Decree No. 14 dated 12 January 2019 (the "Insolvency Code"), taking into account the COVID-19 impact...

Nearly a year ago, the Italian Parliament passed Law 155/2017 giving the Government twelve months to adopt a root and branch reform of the rules governing business distress and insolvency procedures,

With two decisions (No. 1895/2018 and No. 1896/2018), both filed on 25 January 2018, the Court of Cassation reached opposite conclusions in the two different situations.

With certain exceptions, the CDI will enter into force on August 14, 2020, unless amended by the Italian Parliament prior to the effective date.

A distanza di ottant'anni dalla promulgazione della legge fallimentare, dopo una lunga stagione di riforme urgenti e parziali, finalmente il legislatore introduce il Codice della Crisi di Impresa, che dovrebbe vedere la luce ...

The item of the shareholders' contributions for future capital increases (versamenti in conto futuri aumenti capitale) has once again been placed under the lens of the Italian Supreme Court.

As you are probably aware, the Business Crisis and Insolvency Code, codified in Legislative Decree 14/2019, finally entered into force on 15th July.