OVER-INDEBTEDNESS AND BUSINESS CRISIS
Massa Law Firm assists clients from the first warning signs of imbalance through to complete resolution, whether by negotiated settlement or, when necessary, court-supervised restructuring and liquidation proceedings.
Our aim is to keep the business alive, lighten its debt burden and restore a sustainable economic–financial equilibrium.
Corporate Crisis and Insolvency Code
The Corporate Crisis and Insolvency Code (CCI) applies to any debtor facing financial distress or insolvency—consumers, professionals, farmers and businesses of every size and legal form, including groups of undertakings and publicly held companies (public bodies are the sole exception).
The Code introduces the notion of crisis as an economic-financial condition that may evolve into insolvency and, for companies, appears as cash flows that are no longer sufficient to meet obligations on a regular basis.
Negotiated Crisis Settlement
The negotiated settlement of a business crisis is an out-of-court procedure designed to overcome imbalance before insolvency arises. Massa Law Firm:
- analyses assets and liabilities, including short-, medium- and long-term debt;
- devises measures to preserve or enhance the company’s assets;
- guides management in strategic decisions that safeguard creditors.
Objective: keep the business running, lighten its debt burden and restore a sustainable economic-financial equilibrium.
Our firm handles the full spectrum of restructuring and insolvency matters: bankruptcies (now court-ordered liquidations), claw-back actions, and compliance programmes that align business activities with statutes, regulations, internal procedures, codes of conduct and crisis early-warning systems.
We provide continuous advice, accompanying the company from the first signs of distress through to the most suitable solution offered by the CCI.
Over-Indebtedness: solutions for consumers, professionals and small businesses
We assist consumers, professionals and non-bankruptable small entrepreneurs who face the critical situation in which their debts exceed their available income. These procedures are also open to partners with unlimited liability in general partnerships (s.n.c. and s.a.s.) or partnerships limited by shares, for debts that are personal and not corporate.
Consumer Plan
A procedure for over-indebted consumers to propose a debt restructuring plan with assistance from the OCC, subject to the requirements of the Italian Crisis and Insolvency Code.
Debt-Restructuring Agreement
For eligible over-indebted debtors other than consumers, the Code provides a minor composition procedure, subject to creditors’ voting and court confirmation.
Liquidation of Assets
Available to consumers, businesses and freelancers: a controlled sale of all assets to satisfy the remaining debts—typically a last-resort solution.
Exoneration of the Asset-less Debtor
An individual meeting Article 283 requirements may obtain debt discharge even when unable to offer any benefit to creditors. Statutory conditions, exclusions and duties concerning subsequently acquired resources continue to apply.
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