Overindebtedness Law 3

• 1. NEGOTIATED COMPOSITION OF CRISIS
  
  • Eligible subjects
    • Consumers (natural persons not entrepreneurs)
    • Professionals and small entrepreneurs
    • Minor enterprises
  • Features
    • Allows debt restructuring through direct negotiations with creditors.
    • Offers a flexible and personalized restructuring plan.
    • Promotes rapid intervention to contain crisis worsening.
    • How does it work?
• Initial consultation meeting
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• 2. DEBT DISCHARGE
  
  • Eligible subjects
    • Consumers in crisis with specific requirements
    • In some cases, also professionals and minor entrepreneurs
  • Features
    • Allows cancellation of residual debt (fresh start) after meeting specific requirements.
    • Requires compliance with specific regulatory thresholds and requirements.
    • Promotes financial reinsertion with significant reduction of burdens.
    • How does it work?
• Initial consultation meeting
• Calculate your debt reduction now
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• 3. SIMPLIFIED AGREEMENT
  
  • Eligible subjects
    • Subjects in crisis with reduced repayment capacity, particularly those of advanced age
    • Consumers or businesses in conditions of moderate crisis
  • Features
    • Fast and agile procedure to obtain strong debt reduction.
    • Simplified procedures compared to traditional agreement.
    • Lower procedural costs and reduced implementation times.
    • How does it work?
• Initial consultation meeting
• Calculate your debt reduction now
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• 4. PREVENTIVE AGREEMENT IN CONTINUITY
  
  • Eligible subjects
    • Non-minor enterprises, especially those that must preserve business continuity
    • Companies in crisis with significant assets and need to maintain operations
  • Features
    • Restructuring planning that allows continuation of business operations.
    • Balance between creditor protection and recovery of productive capacity.
    • Structured approach with homologation of the restructuring plan.
    • How does it work?
• Initial consultation meeting
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• 5. JUDICIAL LIQUIDATION AND LIQUIDATORY AGREEMENT
  
  • Eligible subjects
    • Debtors in situation of irreversible crisis
    • Subjects who cannot access restructuring pathways
  • Features
    • Liquidation procedure aimed at controlled distribution of assets.
    • Simplified procedures to reduce time and costs of the procedure.
    • Aims to satisfy creditors through asset liquidation, eliminating the social stigma of bankruptcy.
    • How do they work?
• Initial consultation meeting
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• DIFFERENCES FROM PREVIOUS LEGISLATION
  • Greater flexibility
    The new rules of the Crisis Code have introduced greater flexibility in the management of overindebtedness crises.
  • Simplification of access to debt discharge
    The process for accessing debt discharge has been simplified, facilitating non-bankruptcy subjects.
  • Objective
    These procedures are designed to offer a way out to individuals and small businesses that cannot access traditional bankruptcy procedures such as insolvency, allowing them to resolve situations of serious economic difficulty.
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• Initial consultation meeting
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HOW DO THE DEBT RESTRUCTURING
PROCEDURES WORK?

• NEGOTIATED COMPOSITION OF CRISIS
  
  
  • Initial assessment
    • Financial documents are collected and repayment capacity is verified.
  • Definition of a plan
    • A preliminary meeting is held to analyze the situation and define a negotiated plan.
  • Negotiations with creditors
    • Initiation of direct negotiations to agree on debt restructuring.
  • Formalization of the plan
    • The plan is drafted and, if necessary, presented to the court for homologation.

• Initial consultation meeting
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• DEBT DISCHARGE
  
  
  • Verification of requirements
    • Verification that regulatory requirements are met and necessary documentation is collected (balance sheets, statements, etc.).
  • Submission of the application
    • Sending of the request to the competent authority for debt discharge.
  • Required compliance
    • Execution of compliance requirements (e.g., informational meetings or training courses) provided for by law.
  • Obtaining fresh start
    • Residual debt is partially or fully cancelled, allowing a fresh financial start.

• Initial consultation meeting
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• SIMPLIFIED AGREEMENT
  
  
  • Document preparation
    • Collection of information and financial documents, with the support of a lawyer.
  • Drafting of the proposal
    • A simplified proposal for debt reduction is developed, with clear objectives.
  • Negotiation with creditors
    • Presentation and discussion of the proposal with creditors to reach an agreement.
  • Homologation and implementation
    • The court homologates the plan, which is then implemented to obtain debt reduction.

• Initial consultation meeting
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• PREVENTIVE AGREEMENT IN CONTINUITY
  
  
  • In-depth business analysis
    • Collection of up-to-date balance sheets and documentation to assess the state of the business.
  • Drafting of the restructuring plan
    • Development of a plan that provides for continuation of business operations, balancing creditor needs with continuity safeguards.
  • Meetings and negotiations
    • Initiation of discussions with creditors and, possibly, with a professional to define plan terms.
  • Submission to the court
    • The plan is submitted for homologation, thereby activating the restructuring procedure.

• Initial consultation meeting
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• JUDICIAL LIQUIDATION AND LIQUIDATORY AGREEMENT
  
  
  • Evaluation of the irreversible situation
    • In-depth analysis to determine whether debt restructuring is no longer possible.
  • Preparation of the application
    • Collection of necessary documentation and submission of the request to the court.
  • Realization of liquidation
    • Sale of assets to satisfy creditors, following a controlled procedure.
  • Closure of the procedure
    • Formal conclusion of the proceeding, with any residual measures for debtor discharge.

• Initial consultation meeting
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LEGAL SUPPORT FOR OVER-INDEBTEDNESS IN ANZOLA DELL'EMILIA
CONSULTATION AND CUSTOMIZED SOLUTIONS



• ASSESSMENT OF YOUR FINANCIAL POSITION
  Personalized analysis of your finances to identify steps to take against over-indebtedness.
• PERSONALIZED STRATEGIES
  Concrete and tailored solutions to address your specific case.
• OPERATIONAL SUPPORT
  Careful preparation of necessary documentation for the debt discharge process.
• COMPLETE LEGAL ASSISTANCE
  Legal representation throughout the proceedings to protect your rights.
• ADVANTAGEOUS NEGOTIATIONS
  Negotiations with creditors to obtain more favorable conditions.
• DEVELOPMENT OF A RETURN PLAN
  Creation of a sustainable plan that satisfies all parties involved.
• CONSTANT MONITORING
  Continuous supervision of plan performance with possible adjustments.
• SOLID EXPERIENCE
  Expertise acquired over years of handling complex over-indebtedness cases.
• A HUMAN APPROACH
  We understand your difficulties and are committed to providing effective assistance.
• CONFIRMED RESULTS
  Success stories in negotiating advantageous agreements for our clients.

INSIGHTS FAQ

• How are side agreements handled outside formal restructuring?
  • Side agreements with individual creditors must be disclosed and integrated into formal restructuring to maintain transparency and fairness.
• What is the role of financial advisors in restructuring planning?
  • Financial advisors help assess situation, develop realistic plans, monitor compliance, and suggest adjustments to optimize restructuring success.
• Can restructuring address cryptocurrency or digital asset debts?
  • Digital asset debts are increasingly included in restructuring plans. Valuation and collection methods are evolving with technology.
• How does restructuring address supplier relationship continuity?
  • Plans can prioritize critical supplier payments to maintain business relationships essential for operations during restructuring.
• What happens to late payment penalties during restructuring?
  • Late payment penalties are often suspended or reduced during court-approved restructuring to focus payments on principal debt.
• Can restructuring address franchise or licensing fees?
  • Franchise and licensing fees can be addressed within restructuring plans if deemed essential for business continuation.
• How does restructuring handle intercompany debts?
  • Intercompany debts are managed separately in group restructuring situations, with careful coordination to avoid cascading insolvencies.
• What is the impact of market downturns on plan sustainability?
  • Market downturns can trigger plan modifications. Courts may approve temporary payment reductions if circumstances are genuinely beyond control.
• Can restructuring prevent professional misconduct liability claims?
  • Professional liability debts are generally included in restructuring plans, protecting debtors from professional ruin while addressing obligations.
• How does restructuring address environmental remediation debts?
  • Environmental debts receive special handling. Plans must address legal compliance while restructuring financial obligations appropriately.
• What is the benefit of proactive restructuring engagement?
  • Early engagement in restructuring demonstrates good faith to courts and creditors, improving plan approval prospects and potentially better terms.

• Would you like to book a meeting? Discover how to request an appointment.
  • The law firm operates in the field of managing overindebtedness crisis throughout the national territory using virtual meeting tools. The firm is able to offer its legal services also at the national level, aiming to assist you throughout Italy.
  • The firm is able to offer its legal services also at the national level, aiming to assist you throughout Italy.
  • L'Aurora Law Firm is based in Terracina in the province of Latina: throughout the Italian territory, legal consultation is offered using telematic tools also in the cities of Anzola dell'Emilia, Calderara di Reno, Zola Predosa, Casalecchio di Reno, San Giovanni in Persiceto, Sala Bolognese, Castelfranco Emilia, San Cesario sul Panaro, Bologna, Spilamberto, Monte San Pietro e Sant'Agata Bolognese.
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