Managing Overindebtedness Crisis
Law 3/2012

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

DEBT RESTRUCTURING PROCEDURES IN TORINO

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 Piemonte 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 Firenze, Ferrara, Padova, Livorno, Ravenna, Venezia, Rimini, Perugia, Trieste, Sassari, Roma e Latina.
      • 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
      • Our law firm offers you various personalized intervention methods. You can easily book an appointment online, by phone or via WhatsApp Business.
      • We use videoconferencing platforms such as Google Meet and WhatsApp to offer you a virtual legal service throughout the national territory, including Torino, ensuring professionalism and maximum comfort.
      • Free introductory meeting
        Preliminary consultation free without commitment, free of formal consultation. Objective: define and explore the needs to identify the next step.
      • Evaluation meeting
        Meeting priority on a paid basis with detailed preliminary analysis of documentation provided. Objective: define a clear action plan in appropriate times.
      • Strategic consultation
        In-depth and priority study of documentation with personalized consultation. Objective: offer a comprehensive strategic evaluation with detailed action plan for complex situations.

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In Torino, 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 seeking professional virtual legal assistance and customized solutions in Torino. We provide a wide range of personalized legal services designed to effectively meet the needs of private clients, companies and professionals.
  • Thanks to our constant and continuous updating on applicable regulations and judicial trends, we ensure comprehensive, accurate and cutting-edge legal assistance. Since every client has specific and particular needs, we provide personalized and strategic consultations with the objective of resolving every legal matter without unnecessary delays, whether of personal or professional nature.
  • Our approach is based on a thorough, accurate and detailed evaluation of each case, proposing practical, concrete solutions always oriented towards defending the interests and rights of our clients. We believe that mutual trust, absolute transparency and clear communication are the foundation of a good and lasting professional collaboration, which is why we always maintain continuous, open and clear communication with our clients, keeping them constantly informed at every stage of proceedings.
  • We offer qualified virtual legal consultations in Torino and in the region of Piemonte, covering various sectors of law, including civil, commercial, corporate, labor and criminal. Whether it involves complex contractual disputes, family law issues or business disputes, we are ready to assist you with expertise and dedication in facing any legal challenge with professionalism, confidence and tranquility.
  • Our work is distinguished by passion, dedication and professional rigor with the objective of achieving concrete and tangible results, always aiming at the complete protection and safeguarding of our clients' rights. Contact us for an initial introductory consultation and discover how we can assist you in managing your legal issues with expertise, dedication and professionalism.
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INSIGHTS FAQ


  • How does inflation affect debt restructuring plans?
    • Inflation adjustments may be included in plans, particularly for long-term restructuring. Plans can include indexation clauses tied to economic indicators.
  • What happens to personal guarantees in restructuring?
    • Personal guarantees are typically included in restructuring plans. Guarantors may negotiate reduced obligations or seek guarantee release under certain conditions.
  • Can a debtor appeal a rejected restructuring plan?
    • Yes, debtors can appeal plan rejection. Appeals must demonstrate that the original decision was legally flawed or circumstances have materially changed.
  • How do inheritance or windfalls affect the restructuring plan?
    • Unexpected inheritances or windfalls may trigger plan modifications. Plans often require increased payments if income or assets increase substantially.
  • What protections exist for debtors with mental health issues?
    • Mental health considerations may result in extended timelines or modified payment schedules. Legal representatives can advocate for appropriate accommodations.
  • Can restructuring address both personal and business debts?
    • Yes, for self-employed individuals, restructuring can address combined personal and business debts through integrated plans that address both components.
  • How does spousal debt factor into family restructuring?
    • In community property jurisdictions, spousal debts may be included. Plans can be tailored to address both individual and joint obligations.
  • What is the impact of credit rating on plan approval?
    • Past credit rating deterioration doesn't prevent plan approval but demonstrates need for restructuring. Judges focus on current financial capacity and plan feasibility.
  • Can environmental or social considerations affect the plan?
    • Some modern restructuring plans include sustainability requirements or social responsibility clauses as conditions of creditor approval.
  • How do student loans factor into restructuring plans?
    • Student loans are typically included in restructuring, though some jurisdictions offer special treatment. Check local regulations for specific provisions.
  • What is the relationship between restructuring and credit recovery?
    • Successful restructuring completion significantly improves creditworthiness. Demonstrating consistent payment compliance rebuilds credit trust.
  • 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 Torino, Genova, Milano, Verona, Bologna, Firenze, Venezia, Roma, Napoli, Bari, Palermo e Catania.
    • Initial consultation meeting
Form to request an appointment with Lawyer Liliana L’Aurora

I am Lawyer Liliana L’Aurora, registered with the Bar Association of Latina, with experience in business distress law, insolvency and over-indebtedness, in accordance with the new Business Distress Code. Crisis Manager in over-indebtedness procedures and legal assistance in insolvency proceedings. I am also registered with the Register of Crisis Managers and the OCC at the Bar Association of Latina.
Practical experience gained at the De Felice Law Firm, with a focus on bankruptcy proceedings and delegated real estate sales. I provide legal assistance to companies and private individuals in various sectors, including commercial law, debt recovery, family law, and civil liability.
I earned a Degree in Law from La Sapienza University in Rome, with continuous updates through advanced training courses, including the Advanced Training Course for Crisis Managers on Over-indebtedness and the Business Distress Code.
I am available virtually throughout the national territory, using digital tools to provide remote legal assistance, in complete safety.

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Appointments Information

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