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CMS | Newsletter Italy 6 May 2016 (3°)

New provisions introduced by Law Decree No. 59 of 2016 - Transfer to the lender of properties securing loans in case of default by the borrower and amendments to insolvency proceedings rules

06/05/2016

Law Decree no. 59 of 3 May 2016, apart from introducing a new type of floating charge, namely “non-possessory pledge” and creating a fund for payment of compensation to bondholders of four Italian banks recently declared insolvent, provides certain amendments to enforcement and insolvency procedures and introduces the possibility for the lender to appropriate the property securing a loan in case of continuing default by the borrower.

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Transfer to the lender of properties securing loans in case of default by the borrower and amendments to insolvency proceedings rules
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Authors

Picture of Paolo Bonolis
Paolo Bonolis
Partner
Rome
Gianfabio Florio
Gianfabio Florio
Senior Associate
Rome