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Italian
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year 100
Italian
Banking
Association
year 100
Archive » September 2019 » The European Directive on preventive restructuring and the new Italian Insolvency Code
The European Directive on preventive restructuring and the new Italian Insolvency Code
Silvia BianconiSeptember 2019 - n. 9
Keywords: Crisi d’impresa, ristrutturazione preventiva, esdebitazione
Jel codes: G30, G33
The European Directive on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring and insolvency aims to remove obstacles to the exercise of fundamental freedoms (the free movement of capital and freedom of establishment), which result from differences between national laws. The Directive aims also to remove such obstacles by ensuring that: viable enterprises and entrepreneurs that are in financial difficulties have access to effective national preventive restructuring frameworks which enable them to continue operating; honest insolvent or over-indebted entrepreneurs can benefit from a full discharge of debt after a reasonable period of time, thereby allowing them a second chance.