B029860 - INSOLVENCY LAW

Italian

Business crisis and insolvency law. The impact of the new italian code (Codice della crisi e dell'insolvenza).
The EU directive n. 2019/1023, on preventive restructuring frameworks and insolvency and its implementation in Italy.
Principles and rules: an overview.
The negotiated settlement of crisis and insolvency
The different preventive restructuring frameworks.
Recovery plans and debt restructuring agreements
The arrangement with creditors (concordato preventivo)
The judicial liquidation.

For the students who have been attending regularly the lessons: lessons notes and slides, other materials (as decision, articles of corporations and similar) provided during the lessons.
For all the other students,
- A. Jorio, Il diritto della crisi e dell'insolvenza, Giappichelli, Torino, 2023 (up to and including chapter XVI, 345 pp.);
or
- S. Pacchi e S. Ambrosini, Diritto della crisi e dell'insolvenza, II ed., Zanichelli, Bologna, 2022 (except cap. XIII), 323 pp.;
or
- G. D'Attorre, Manuale di diritto della crisi e dell'insolvenza, II ed., Torino, Giappichelli, 2022 (except capp. XI e XII e XIII), 385 pp.
Some other textbooks and other materials will be set out as soon as they are available.

The course aims to provide students with a complete knowledge of the italian bankruptcy law, expecially focused on enterprises and corporations crisis and bankruptcy and on: (i) the new italian bankruptcy code (d.lgs, 12 january 2019, n. 14, in the current text) (ii) directive EU, 20 june 2019, n. 1023).
The students will acquire the following knowledge
Knowledge of the rules on debtor's financial distress and insolvency and of the legal techniques available to solve it.
The students will also acquire the following skills and ability:
A) Acquisition of the basic education on bankruptcy law. Acquisition of the capacity to analyse issues of bankruptcy law.
B) Refinement of the capacity to discuss and argue different solutions for the same issue.
C) Critical understanding of bankruptcy law as an integral part of business organization law and of the rules concerning corporate finance. Ability to solve real cases in a critical manner, using knowledge acquired through study of Civil law and Commercial law.

To be admitted to the examination students shall have passed:
- Diritto privato I (Private law I);
- Diritto costituzionale generale (Constitutional law).
Study of general Commercial law (entrepreneur and companies) is advised.

Lectures: 48 hours. The course will be partly done with class discussion of issues of Bankruptcy law arising from recent cases.
Power point presentations and other materials handed out during the lessons, will be available through the Moodle Platform

In order to attend the course, students shall subscribe to the MOODLE Platform by the first week of lessons. The attendance of the registered students will be verified by roll call on a random basis. Students enrolled in the course are required to notify the teacher if they are absent, writing an e-mail with the subject: "justification". A maximum of 5 justifications will be allowed (except for individual particular cases).

The examination will be oral.
During the examination candidates will have to show ability to find and discuss the relevant rules for the matter (primarily, the bankruptcy law, the new bankruptcy code and the Italian Civil Code), that they will be allowed to read.
It is also necessary to show ability to master the general rules of Private law on which Bankruptcy law is based.

Optional Written test reserved to students who have been attending regularly the lessons.
The above mentioned written test consists of 3/5 (three/five) short open-ended questions, and 10/15 (ten/fifteen) multiple choice questions, to be answered in an hour and thirty minutes. The questions will be pre-printed in the sheets that will be handed at the beginning of each exam. The lines dedicated to each question are merely indicative and not exhaustive. Additional sheets will be available.The evaluation shall be sufficient if at least 10 answers are fully sufficient.In any case, the students may require to take an oral examination.

Analysis of the restructuring procedure ("composizione negoziata della crisi", preventive restructuring framework, and the liquidation procedure provided for by Italian bankruptcy law (R.D. 16 March 1942, No. 267, D.LGS. 12 gennaio 2019, n. 14)). Analysis of the rules concerning out-of-court agreements between the debtor and its creditors. Analysis and discussion of issues of Bankruptcy law arising from recent cases.