The awareness that many companies will not be able to guarantee business continuity, Once the effects of the economic measures granted to companies to mitigate the effects of Covid-19 have been exhausted, it has led the legislator to postpone the entry into force of Business Crisis and Insolvency Code. This happened by means of Decree-Law no. 118/2021, in which some have been provided for urgent measures, valid from 25 August 2021, among the most important:
- the postponement to 16 May 2022 of the entry into force of the Business Crisis Code and the delay to 31 December 2023 of alert procedures;
- urgent measures in the field of Business crisis and corporate reorganization, including typesetting transacted for the solution of the business crisis starting from November 15;
- amendments to the text of the Bankruptcy Law (Royal Decree no. 267/1942) on debt restructuring agreements and on business continuity in the preventive agreement.
For more information, we recommend that you analyze the Decree Law
