Overview
1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions?
Historically, Italian Bankruptcy Law was considered creditor-friendly. Bankruptcy proceedings were aimed at maximising the recovery of the creditors by way of the dissolution of the going concern.
As a result of numerous amendments to the Italian Bankruptcy Law, Italy gradually turned into a jurisdiction that is increasingly focused on the preservation of the going concern and its value, thanks to new (or renewed) instruments, mostly based on the composition of creditor claims and on a set of benefits and protective measures aimed at supporting a recovery path.
Recently, a law reform (Legislative Decree No….