Managing Overindebtedness Crisis
Law 3/2012

Structured and personalized legal solutions aimed at restoring financial and legal balance in the territory of Castenedolo, using virtual tools

DEBT RESTRUCTURING PROCEDURES IN CASTENEDOLO

Being in a state of overindebtedness can be difficult, but there are tools to manage it.

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  • HOW TO GET OUT?
    • In the region of Lombardia these are the tools that the law makes available to us:
    • FOR CONSUMERS (natural persons not entrepreneurs)
      • Negotiated composition of personal crisis
        A procedure that allows direct negotiation with creditors to restructure debt, focusing on asset protection and income maintenance.
      • Debt discharge
        A mechanism designed to free the debtor from residual debt, offering the possibility of obtaining a "fresh start" after meeting specific requirements and overcoming the crisis phase.
      • Judicial liquidation
        A last resort solution, available in particularly serious situations, which involves the liquidation of assets to satisfy creditors and allow the debtor to make a fresh start.
    • FOR PROFESSIONALS AND SMALL ENTREPRENEURS
      • Simplified agreement
        Ideal for subjects in crisis with limited personal or business profiles; this procedure offers strong debt reduction in a rapid and simplified manner, protecting income or personal financial stability.
      • Negotiated composition of crisis
        A flexible tool that allows defining, through direct negotiations, a debt restructuring plan, adaptable to the specificities of the profile and financial situation.
      • Debt discharge
        In some cases, after going through the negotiated composition phase, it is possible to access a debt discharge mechanism that allows cancellation of residual debt.
    • FOR ENTERPRISES (large and small)
      • Negotiated composition of crisis
        The central tool for restructuring business debt, aimed at obtaining a plan negotiated with creditors that allows maintaining productive continuity.
      • Preventive agreement in continuity
        Aimed especially at larger enterprises. This tool allows drafting a restructuring plan that preserves business value and continuity, balancing creditor protection with the company's ability to continue operations.
      • Judicial liquidation and liquidatory agreement
        In irreversible situations, these simplified liquidation tools allow realization of business assets to satisfy creditors, eliminating the social stigma of bankruptcy.
  • THE LAW FIRM
    • WHO WE ARE
      • L'Aurora Law Firm, with multi-year experience in managing overindebtedness crisis, is ready to offer you personalized assistance throughout the national territory, with the clear objective of helping you face this difficult scenario.
      • We have a clear and well-structured process that will allow you to proceed step by step without feeling overwhelmed.
      • Every case is different, so the procedure will be carefully evaluated to verify its admissibility according to current legislation.
      • Initial consultation meeting
    • WHAT IS OVERINDEBTEDNESS AND WHAT DOES IT ENTAIL?
      • Overindebtedness occurs when a person or company is no longer able to regularly fulfill its financial obligations.
      • It is a condition in which accumulated debt exceeds the ability to repay it, leading to a situation of financial crisis that may seem hopeless.
      • Executive procedures do not stop on their own, and the longer you wait, the fewer options you have.
      • Book your first meeting now
    • EFFICIENT REMOTE MANAGEMENT THROUGHOUT ITALY
      • Debt restructuring is managed by the firm through a structured and widely tested telematic process at the national level.
      • Thanks to a consolidated method, each phase is followed with precision, ensuring security in document management and constant assistance via email, phone or videoconference.
      • We are available not only in Terracina and in the province of Latina, but also virtually throughout Italy, in the cities of Poncarale, Bagnolo Mella, Bedizzole, Nuvolento, Paitone, Serle, Castel Mella, Nave, Prevalle, Roncadelle, Leno e Capriano del Colle.
      • As this is a nationally regulated procedure, distance does not affect the effectiveness of legal intervention.
      • Book your first meeting now
    • ACCESSING AGILE AND PRIORITY LEGAL SUPPORT
      • If you need legal assistance, you can schedule an appointment with our firm in just a few clicks. You can book directly from the website, write to us on WhatsApp Business or call us.
      • Thanks to platforms such as Google Meet and WhatsApp, our firm operates virtually throughout the national territory, including Castenedolo, offering an effective and accessible legal service to everyone.
      • Free introductory meeting
        First consultation free and without restrictions, without formal consultation activity. Objective: define and explore your needs to move to the next step.
      • Evaluation meeting
        Meeting priority with document examination preliminary and detailed. Objective: develop a clear action plan in appropriate times.
      • Strategic consultation
        In-depth and priority analysis of documentation with custom consultation. Objective: offer a comprehensive strategic evaluation with detailed action plan for complex cases.

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In Castenedolo, here are the 5 main overindebtedness procedures available provided by the Code of Business Crisis and Insolvency (CCII), former Law 3, introduced with Legislative Decree 12 January 2019, n. 14 and subsequently amended.

  • 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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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.
  • 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.
  • 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.
  • 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.
  • 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.
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THE FIRM | WHO WE ARE


  • The L'Aurora Law Firm is available for those requiring highly professional virtual legal consultation and personalized solutions in Castenedolo. We offer a rich range of customized legal services suitable to satisfy the needs of private individuals, companies and professionals.
  • We remain always updated on legislative developments and the most recent judicial trends, ensuring comprehensive, personalized and cutting-edge assistance. Every client is unique and has specific needs, which is why we offer customized and strategic consultations, designed to resolve legal matters quickly and with maximum effectiveness, both in the private sphere and in professional and business contexts.
  • Our approach is based on a meticulous, thorough and detailed analysis of each situation, providing practical, concrete solutions always aimed at protecting the interests and rights of our clients. We are convinced that mutual trust, absolute transparency and clear communication are the keys to building a solid and lasting professional relationship, therefore we guarantee open, constant and direct dialogue with our clients, keeping them punctually informed at every stage of proceedings.
  • We offer qualified virtual legal consultation in Castenedolo and in the region of Lombardia, operating competently in numerous sectors of law, including civil, commercial, corporate, labor and criminal. Whether it involves complex contractual disputes, family issues or business litigation, we are ready to provide you with all the professional legal support you need to face every challenge with confidence and serenity.
  • We operate with dedication, expertise and professional rigor to achieve concrete and measurable results, always with the primary objective of ensuring the complete legal protection and safeguarding of our clients' rights. Contact us for an initial introductory meeting and discover how we can assist you in managing every legal matter with professionalism, precision and promptness.
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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.
Form to request an appointment with Lawyer Liliana L’Aurora

Lawyer Liliana L’Aurora, registered with the Bar Association of Latina, with experience in business distress law, over-indebtedness and insolvency, in line with the Business Distress Code. Crisis Manager for over-indebtedness and assistance in insolvency proceedings. I am also registered with the Register of Crisis Managers and the OCC of the Bar Association of Latina.
I have matured significant experience at the De Felice Law Firm, with particular focus on bankruptcy proceedings and delegated real estate sales. I offer legal consultation in various areas, including commercial law, family law, debt recovery, and civil liability.
I obtained my Degree in Law from La Sapienza University in Rome, and I continue to update myself with advanced courses and specialist seminars.
I operate virtually throughout the national territory, using digital tools to allow secure remote consultations.

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Appointments Information

The law firm of Liliana L’Aurora is located at Via Roma 116, Terracina (LT), Lazio