The Insolvency Regime for Large Enterprises in Italy An Economic and Legal Assessment is popular PDF and ePub book, written by Nazim Belhocine in 2018-09-28, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, The Insolvency Regime for Large Enterprises in Italy An Economic and Legal Assessment can be Read Online from any device for your convenience.
The Insolvency Regime for Large Enterprises in Italy An Economic and Legal Assessment Book PDF Summary
The modernization of Italy’s insolvency framework has been the subject of much interest in recent years, related not least to its role in potentially facilitating an efficient allocation of resources. A unique feature of Italy’s insolvency framework is a special regime for large enterprises known as “extraordinary administration”. This paper evaluates the merits of this special regime by assessing its efficacy and success in achieving its stated goals and comparing its features to international standards and best practices. It finds that the special regime tends to impose large costs on creditors and the state. The regime results, in most cases, in the sale of parts of the group, followed by a liquidation phase of the remaining assets which can take longer than the general regime, hindering legal certainty for creditors and more generally economic efficiency, investment and job creation. Based on international best practices and experience, consideration should be given to folding the special regime into the general insolvency regime, possibly with provisions to allow for state intervention in specific well-defined circumstances.
Detail Book of The Insolvency Regime for Large Enterprises in Italy An Economic and Legal Assessment PDF
- Author : Nazim Belhocine
- Release : 28 September 2018
- Publisher : International Monetary Fund
- ISBN : 9781484378427
- Genre : Business & Economics
- Total Page : 34 pages
- Language : English
- PDF File Size : 19,9 Mb
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