NewsAlert BU Restructuring – Finance and Regulated Department | Conversion into law of the emergency measures, enacted in August, for companies financing financial difficulties and corporate turnaround
On 21 October 2021 Italy approved the conversion into law, with amendments, of Law Decree No. 118 of 24 August 2021,setting out, inter alia, emergency measures on companies in distress and corporate recoveries, together with additional emergency measures on legal procedure. The conversion law have been published in the Official Gazette on 23 October 2021.
The Decree is one of a series of legislative measures relating to companies facing financial troubles, through which the Legislator has sought to provide companies with the necessary tools to deal with this difficult phase and solve the situations of economic and financial imbalance following the outbreak of the health emergency caused by Covid-19 and the economic crisis that followed. The Decree is intended to apply to companies in distress that appear to be recoverable.