A few years ago, the financial crisis which engulfed countries all over the world has affected a large number of companies and the same happened in Italy. There are also current situations in which Italian companies do not fare that well and they are required to undergo liquidation, however before starting winding-up procedures, restructuring is best option.
Company restructuring in Italy implies trying to adjust the expenses of a business in a manner in which it can save itself from going bankrupt. In order to help companies going through financial problems, the government has amended the Bankruptcy Law several times so that is provides for company restructuring options. Our company formation consultants in Italy can offer information on the current Bankruptcy Law.
The current legislation provides for two options for Italian companies seeking restructuring:
Our local agents can explain the two restructuring options for Italian companies. We can also help you open a company in Italy.
An Italian company can opt to appoint an independent evaluator who will assess the business’ debts and assets and based on these to come up with a solution through which the company can be saved. The restructuring plan will usually imply signing various agreements with creditors or contracting loans which will help the company pay its debts. The last method is also referred to as debt refinancing in Italy.
The Italian legislation provides for certain requirements for companies going through restructuring and choosing to sign certain agreements which will ease the businesses’ financial burdens. Debt restructuring agreements imply:
For full information on how to restructure a company, please feel free to contact our company incorporation advisors in Italy.