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CMS | Newsletter Italy 11 July 2016

Non-possessory pledge and Patto Marciano - Conversion law of “Decreto Sofferenze” (D.L. 59/2016)

11/07/2016

On 3 July, 2016, Law Decree no. 59 of 3 May 2016 was converted into Law no. 119 of 30 June 2016, through various amendments.

Law Decree no. 59, introduced inter alia, (i) a new form of security interest aiming at protecting creditors, namely “non-possessory pledge”, and (ii) the so called “patto marciano”, which allows the lender, in case of loans secured by property, to obtain the transfer of such property upon default by the borrower.

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Non-possessory pledge and Patto Marciano
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Authors

Portrait ofPaolo Bonolis
Paolo Bonolis
Partner
Rome
Portrait ofGianfabio Florio
Gianfabio Florio
Counsel
Rome