The contributions considers the "traditional avoidance action" (azione revocatoria fallimentare) in the light of the recent Reforms of the Bankruptcy Act which have been passed over the last few years in Italy. It points out at the increasing importance - and widening of its scope of application - of volutary schemes of debt arrangement as a means to promote the turnaround of distressed businesses. In such perspective, a fundamental key-factor for their implementation is the exemption from avoidance actions. In order to highlight the impact of the amendments introduced the autor compares the repealed statutory provisions (and their effects) with the new regulatory framework. In a comparative perspective, the contribution stressed the relevance of provisions governing the avoidance action for the (successful) turnaround of distressed businesses. In such perspective, the new regulatory framework is aligned with major Insolvency law reforms passed all over Europe as a response to the financial crisit originated in 2008.
Avoidance action and turnaround of distressed businesses from an Italian perspective
SCARSO, ALESSANDRO PIETRO
2013
Abstract
The contributions considers the "traditional avoidance action" (azione revocatoria fallimentare) in the light of the recent Reforms of the Bankruptcy Act which have been passed over the last few years in Italy. It points out at the increasing importance - and widening of its scope of application - of volutary schemes of debt arrangement as a means to promote the turnaround of distressed businesses. In such perspective, a fundamental key-factor for their implementation is the exemption from avoidance actions. In order to highlight the impact of the amendments introduced the autor compares the repealed statutory provisions (and their effects) with the new regulatory framework. In a comparative perspective, the contribution stressed the relevance of provisions governing the avoidance action for the (successful) turnaround of distressed businesses. In such perspective, the new regulatory framework is aligned with major Insolvency law reforms passed all over Europe as a response to the financial crisit originated in 2008.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.