With the publication in the Italian Official Gazette of Legislative Decree 24th August 2021 n. 118 containing urgent measures in the field of business crisis and corporate turnaround, the entry into force of the Crisis Code is officially postponed to May 16th , 2022. The crisis alert and settlement procedures are instead postponed to December 31st, 2023.
Among the numerous innovations, the new negotiated settlement procedure, pursuant to art. 2 of Legislative Decree 118/2021, aimed at the reorganization of companies in conditions of patrimonial or economic-financial imbalance. The procedure is applicable in Italy from 15th November 2021.
