banks

by Avv. Prof Stefano Loconte and Avv. Leonardo Angelastri

Banks and financial intermediaries in Italy

Pursuant to Section 182-bis of the Italian Bankruptcy Law, a business that finds itself in severe difficulty and facing collapse can ask the court to approve a debt restructuring agreement reached with its creditors on condition that the agreement in question is with at least 60% of the entire pool of creditors and that those creditors who have elected not to be party to the agreement are guaranteed payment of their debt in full.

GGI