With the publication of Decree Law No. 118 of Aug. 24, the government has further emphasized the need to intervene in business crises, providing prodromal tools for corporate rehabilitation before its economic and financial dysfunctionality becomes chronic.
The timing of the enactment of this provision, among other things, always with the usual practice of the decree law to be converted, as well as its entry into force on November 15, 2021, make one understand the need, clearly exacerbated as a result of pandemic, to deliver tools that incentivize companies to obtain restructuring or rehabilitation paths, so, hopefully, to intervene on the institutions of concerted crisis resolution (and with that for the continuity, even partial, of the company).
Art. 2 of the decree introduces the institution of the negotiated settlement for the resolution of business crises, an instrument, among others optional, on the merit of which the agricultural or commercial entrepreneur, beyond size limits (moreover, not provided for), may request the appointment by the territorially competent chambers of commerce of an independent expert to be identified from the ranks of Lawyers, Chartered Accountants and Labor Consultants in possession of specific qualifications, with a concrete past in the field of insolvency management and whose specific training will be the subject of a managerial decree of the Ministry of Justice (to be adopted within no. 30 days from the date of entry into force of the decree in question).
Beyond the peculiarities of the expert and the institute of negotiated settlement for the resolution of enterprise crisis, particular attention should be paid to a provision, included in the eighth paragraph of Article 4, of a precise labor matrix and concerning trade union information obligations remitted to the employer requesting the institute in question.
Article published in the number 38 of September 24, 2021 of Job Guide, weekly de The Sun 24 Hours. Insight by Dario Ceccato.
