The topic of this paper is the role of fresh money in the reorganization of companies from an Italian perspective. Recently, three new rules have been introduced in the Italian Bankruptcy Law in order to facilitate the obtaining of credit by companies in crisis. These rules recognize priority in reimbursement for claims related to financing. Their target is to incentivize those who want to grant new finance to enterprises in crisis. The target is so important for the legislator that the rules permit the discrimination of companies’ creditors on the basis of a judicial valuation of the conditions required for priority by the law in the specific cases. The traditional and important principle of equal treatment of unsecured creditors is even more neglected. But the specific meaning of the rules and their inclusion in a sort of company crisis law in time of crisis induce to confine the forms of credit to which the rules refer to and to limit the space for extensive interpretations.
I finanziamenti alle imprese in regime di (pre)concordato dopo la legge n. 132/2015
ACCETTELLA, Francesco
2016-01-01
Abstract
The topic of this paper is the role of fresh money in the reorganization of companies from an Italian perspective. Recently, three new rules have been introduced in the Italian Bankruptcy Law in order to facilitate the obtaining of credit by companies in crisis. These rules recognize priority in reimbursement for claims related to financing. Their target is to incentivize those who want to grant new finance to enterprises in crisis. The target is so important for the legislator that the rules permit the discrimination of companies’ creditors on the basis of a judicial valuation of the conditions required for priority by the law in the specific cases. The traditional and important principle of equal treatment of unsecured creditors is even more neglected. But the specific meaning of the rules and their inclusion in a sort of company crisis law in time of crisis induce to confine the forms of credit to which the rules refer to and to limit the space for extensive interpretations.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
