CRISIS AND INSOLVENCY LAW

The course is part of the Master’ Degree Programme in Accounting and Finance and aims to address – in its general terms, analysing its substantial and procedural elements – the law of business crisis and insolvency as reformed by the Code on Business Crisis and Insolvency (Legislative Decree of 12 January 2019 n. 14 and subsequent amendments, including the Legislative Decree of 13 September 2024, n. 136), which replaced the Bankruptcy Law (R.D. 16 March 1942, n. 267, subsequently amended) and the law on over-indebtedness (I. 27 January 2012, n. 3 and subsequent amendments).
This subject is part of a curriculum that puts the enterprise at the centre, hence the importance to know the rules that regulate the business crisis and its regulatory instruments. The single-view of the business crisis and insolvency adopted by the Code requires to also consider the system that regulates over-indebtedness of non-entrepreneur subjects.

Students will be provided with the necessary tools for their future professional life, in case they will be dealing with enterprises or, more in general, with debtors’ (either entrepreneurs or not) crises

Knowledge of private and commercial law, or at least an understanding of its basic principles.

1.General profile of the regulatory framework of business crisis and insolvency.
2. Bankruptcy procedures: types, characteristics, and assumptions.
3. The negotiated settlement of the business crisis and the “simplified” Composition with Creditors.
4. General rules of procedure for crisis and insolvency.
5. Instruments for the settlement of the crisis: agreements (agreements to execute recovery plans; agreements for the restructuring of debts, debt restructuring plan subject to court certification).
6. (Followed by) Arrangement with creditors.
7. Judicial liquidation.
8. (Followed by) The liquidation and the agreement to the company’s judicial liquidation.
9. Provisions on business groups (conglomerates).
10. Introduction to the applicable procedure to the regulation of over-indebtedness (debt restructuring for consumers; “minor” composition with creditors).
11. Discharge of debt.

- Manente,Lineamenti del diritto della crisi d’impresa (Principles of Business Crisis Law features), 2nd edition, 2024, Cedam
For the purposes of the exam, it is not necessary to study: chap. II; par. 2 of chap. XI; par. 1 of chap. XIII; par. 2 of chap. XIV; par. 2 of chap. XXVII. However, it is suggested to read it to grasp the evolution of the discipline of the various instruments now regulated by the Code.
Alternatively, students may also use other texts, provided that they reflect the above mentioned modifications to the Code on Business Crisis and Insolvency as per the Legislative Decree of 13 september 2024, n. 136, including:
- D’Attorre, Manuale di diritto della crisi e dell’insolvenza, Giappichelli
- Pacchi – Ambrosini, Diritto della crisi e dell’insolvenza, Zanichelli
- Nigro-Vattermoli, Diritto della crisi delle imprese. Le procedure concorsuali, Il Mulino
In any case, it is recommended to complement the study of the chosen volume with the regular consultation of the Code Code on Business Crisis and Insolvency.

The exam consists of a written test: a series of multiple choice questions and an open-ended question.

written

The grade will be assigned according to the following methods:
A. scores in the 18-22 range will be assigned in the presence of:
- sufficient knowledge and ability to apply understanding in reference to the course program;
- limited ability to apply knowledge by formulating independent judgments;
- sufficient communication skills, especially in relation to the use of specific language that pertains to the course program;
B. scores in the 23-26 range will be assigned in the presence of:
- fair knowledge and ability to apply understanding in reference to the course program;
- fair ability to apply knowledge by formulating independent judgments;
- fair communication skills, especially in relation to the use of specific language that pertains to the course program;
C. scores in the 27-30 range will be assigned in the presence of:
- good or very good knowledge and ability to apply understanding in reference to the course program;
- good or very good ability to apply knowledge by formulating independent judgments;
- fully appropriate communication skills, especially in relation to the use of specific language that pertains to the course program;
D. honors will be awarded in the presence of knowledge and understanding applied in reference to the program, judgment and communication skills, excellent.

The course consists of 30 hours divided into 15 lessons of 2 hours each.
The teaching methodology aims at sparking students’ interest, encouranging their interaction and interventions, and also to request clarifications and in-depth analysis of specific topics. During the lectures, additional references will be provided to faciliate in-depth theoretical and practical analyses of the subject matter.
If any corrective decrees to the current text of the Code or other relevant provisions are issued during the timeframe of the course, students will be briefed and provided with the relevant material. Similarly with regard to any updated bibliographic material.
In any case it is recommended to consult this page periodically for any updates

Teaching language : Italian