Ten keys to understanding the new bankruptcy scenario
December is the date on which the term known as the “bankruptcy moratorium” ends, which has allowed any debtor in an insolvency situation since march 14, 2020, not to have been forced to request the bankruptcy. In the same way, throughout this long period of time, no commercial court has admitted to processing applications submitted by creditors to force the bankruptcy of its debtor, which is called necessary bankruptcy. Will all debtors, natural or legal persons, insolvent, be obliged to request the bankruptcy as of january 1, 2022? Those debtors who cannot regularly meet their payment obligations and they go through serious treasury difficulties, suffer seizures, etc., they will be obliged to resort to any of the mechanisms offered by bankruptcy legislation. Prior to the request for bankruptcy, the debtor could initiate negotiations with creditors and inform the court of this in order to achieve a period of three months in which to negotiate an agreement with their creditors and thus avoid bankruptcy, something that is known as a "Pre-contest".
If an agreement is not reached in that period, the debtor must Italy Telegram Number Datarequest the contest within the following month. Does the corporate administrator assume any personal responsibility for not requesting the contest on that date? If it arrives on january 1, 2022, the debtor in a situation of insolvency does not request the insolvency or initiate negotiations with creditors within the framework of a pre-bankruptcy, it will assume the risk that a creditor requests the necessary bankruptcy, which will cause, caso that he be admitted by the commercial court, that his powers of administration be suspended and he may be declared civilly guilty, disqualified, and you can even assume the payment of all debts that have not been able to meet with the assets (bankruptcy deficit). What can happen to those debtors who were in a situation of insolvency before march 14, 2020? None of the legislative provisions published since march 14, 2020 distinguishes between prepandemic or post-pandemic insolvent debtors, so a priori, they should all receive the same treatment.
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However, it is not ruled out that in any bankruptcy proceeding that was declared as of january 1, 2022, the creditors or the bankruptcy administration investigate the solvency of the debtor at the time prior to the declaration of the state of alarm in order to found a guilty qualification by understanding that the moratorium of more than twenty months that the legislator has granted to the debtors, it was only for those affected by the pandemic and not for those others who were already suffering the effects of an economic crisis that was looming at the beginning of 2020. What law currently exists to process tenders? Since september 1, 2020, the consolidated text of the bankruptcy law has been in force, which has introduced important new features to ensure greater agility of the process and favor the protection of debtors' assets.
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