Rivista del Diritto Commerciale e del diritto generale delle Obbligazioni

Abstract: The regulatory model outlined in Title VI of Part I of the Code (Articles 284-292) is essentially inspired by two basic guidelines: the first, which consists in favouring tools or mechanisms that allow a “dependent” or “connected” management of the group crisis, which may go as far as the unitary management of the same, if it is foreseeable that the so-called procedural consolidation will result in an advantage for all creditors involved; the second, which requires a clear distinction between the assets of the companies of the group, even if the procedures for resolving the crisis or insolvency are managed as a single unit. The decision to deal with debt restructuring agreements and group recovery plans stems from the difficulties encountered in delimiting the regulatory and applicative space of these mechanisms, the relative discipline being a sort of unbalanced appendix, with strong extraneous features, with respect to both the general discipline of debt restructuring agreements and attested recovery plans; and the discipline, conceived essentially from the viewpoint of the “concordato” and judicial liquidation, of the insolvency group.

Summary: 1. Premessa. – 2. Gli accordi di ristrutturazione dei debiti di gruppo. – 3. I piani attestati di risanamento di gruppo. – 4. Osservazioni conclusive.

Keywords: Bankruptcy Law — Group Insolvency Proceedings — Restructuring Agreements.