Company Crisis and Insolvency Law

The course, dedicated to business crisis, focuses on the study of the instruments for regulating business crisis and insolvency (strumenti di regolazione della crisi di impresa e dell'insolvenza), as well as situations of over-indebtedness (sovraindebitamento). Among them, particular attention is paid to the recently introduced negotiated settlement of business crisis (composizione negoziata della crisi di impresa), the voluntary arrangement with creditors (concordato preventivo) - which in recent years has taken on particular importance due to its frequent application-, and the procedure of judicial liquidation (liquidazione giudiziale) - an enforcement procedure dedicated to the insolvent commercial entrepreneur, originally developed in Italy during the Middle Ages under the name Bankruptcy, and from there spread to the rest of Europe and worldwide-; in addition, by way of brief references, the extraordinary administration of major insolvent companies (amministrazione straordinaria delle grandi imprese insolventi) - which was applied, for example, to the Parmalat insolvency and to Alitalia -, the compulsory administrative winding-up (liquidazione coatta amministrativa) - applicable, among others, to banking institutions - and the proceeding of over-indebtedness crisis settlement (composizione della crisi da sovraindebitamento).
In particular, the 9-CFUs lecture module focuses on all the above procedures; the 6-CFUs lecture module focuses on the negotiation settlement composition with creditors, voluntary arrangement and judicial liquidation.