Draft law to reform insolvency procedures: group-wide pre-bankruptcy agreements – International Law Office (registration)

Introduction

The Rordorf Commission was established by the minister of justice on January 28 2015, with the aim of developing draft legislation to reform the existing Insolvency Act.(1) On February 10 2016 the commission finalised its draft legislation and recommended a new approach to safeguard financially distressed businesses. The aim was to favour the restructuring of distressed companies over liquidation in order to prevent them from becoming finally insolvent.

In this context, the Rordorf Commission modernised some of the legal tools available in Italian insolvency legislation by making them better suited to the above p…

Read the full article at: http://www.internationallawoffice.com/Newsletters/Insolvency-Restructuring/Italy/Lombardi-Segni-e-Associati/Draft-law-to-reform-insolvency-procedures-group-wide-pre-bankruptcy-agreements