The newly enacted decree amending the Italian Insolvency Code: towards greater efficiency and effectiveness of the crisis and insolvency legal framework

A legislative decree amending and supplementing the Italian Insolvency Code (the “Decree”) was published in the Official Gazette on 27 September 2024, effective from the day following its publication.
The main novelties enacted by the Decree are aimed at facilitating the implementation of the crisis management tools set out in the Italian Insolvency Code, with a focus on the negotiated composition (composizione negoziata). The Decree has also introduced several provisions impacting on the composition with creditors proceedings (concordato preventivo) and the treatment of tax and social security liabilities in the context of all crisis management tools.
Our Bankruptcy Law and Restructuring department along with the Tax Department summarized the Decree’s novelties.