Article: The Implementation and Transposition of the European Directive 2019/1023 in the Italian Legislative Context

Abstract

With this article, the Authors intend, preliminarily, to provide a brief temporal excursus in order to the complex path that involved, on the Italian scene, the Code of the Corporate Crisis and Insolvency, from promulgation upon actual entry into force after approximately three years. Secondly, the paper tries to provide an overall picture of the major regulatory implementations, describing, in brief, the general characteristics of the Guidelines given by the EU Directive 2019/1023 (so-called Insolvency). Furthermore, the Authors, turning their minds to the supranational legislation that has affected the matter of insolvency, try to verify the compliance of the national provisions with the provisions of the abovementioned Directive. In the conclusions, the paper attempts to provide some hints on the possible application of the rules, which have just entered into force, in the context of the Courts, with particular emphasis on the so-called “early warning tools”. Bankruptcy, EU Directive, Corporate Crisis, Insolvency Code, Early warning tools, Corporate governance, European law, Over-indebtedness, Crisis, Voluntary restructuring plans