Following a process formally started on 3 February 2017, on 19 October 2017 the Italian Parliament approved a delegation law ("Law 155") entrusting the Government to adopt, within 12 months, legislative decrees aiming at the complete reform of the insolvency and pre-insolvency procedures together with the related provisions on security rights and privileges.

The CMS in Italy Banking and Finance Department, under the patronage of the British Chamber of Commerce for Italy, has published a valuable and innovative guide on the Italian reform of national insolvency and pre-insolvency procedures.  Drafted by Paolo Bonolis, Partner, and Gianfabio Florio, Associate, the practical and easy-to-use guide covers the forthcoming reform in its entirety, outlining both the current insolvency legislation and how it will be implemented, and is the first of its kind in the English language to dissect the complex process that commenced in late 2017. 

The guide which can be downloaded in its complete form below. 

CMS The Reform of the Italian Insolvency System

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.