CMS | Newsletter Italy 6 May 2016

On May 4th, 2016, Law Decree no. 59/2016 entered into force with the name “Urgent provisions regarding enforcement and bankruptcy proceedings, as well as measures in favor of the investors of banks in liquidation”. Such decree introduced a variety of modifications aimed at facilitating and speeding up the debt recovery.

The two aspects with the higher impact concern the provisions regarding the seizure and the ones about the immediate enforceability of the orders of payment.

The third comma of art. 492 of the Italian Code of Civil Procedure was completed with the following disposition “The seizure must contain the warning that, as per article 615, second comma, third period, the opposition is inadmissible if it is proposed after the sale or award as per articles 530, 552 and 569, save for the case in which it is grounded on facts occurred successively or the opponent demonstrates that he could not have promptly proposed it for a cause not attributable to him”. The operators of the sector shall then keep in mind this further content in the brief of seizure, in addition to the ones already mentioned in the Code of Civil Procedure (election of domicile, possibility to replace the seized goods with money).