Enabling act for the Italian insolvency law reform

On 11 October, the Senate finally approved Draft Enabling Act No. S-2681 (Enabling Act), which, among other things, will reform insolvency law (IIL), reorganise the privileges system and formally recognise non-possessory pledges.

This client alert summarises the main legislative changes to be introduced by the Enabling Act concerning:

  • the reform of the bankruptcy procedures, and;
  • the reorganization of the privileges system and the formal recognition of non-possessory pledges.

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