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  • Writer's pictureStudio Legale De Cinque

BUSINESS CRISIS AND CONTINUITY', Restructuring of "Di Biase Vincenzo Di Biase Plant"

The "LAW FIRM DE CINQUE" as LEGAL ADVISOR, shares the brilliant result of the final approval of the arrangement in business continuity pursuant to art. 186 bis l.f. of "Di Biase Impianti di Vincenzo Di Biase". The work was carried out by Avv. Giuseppe De Cinque together with the Financial Advisor STUDIO FABRIZIO, and the Certificate, independent professional Dr. Giuseppe Schiavo. The homologation of the concordat obtained before the Court of Vasto on 1.03.2022, is the result of the path taken by the Entrepreneur, Artisan Enterprise well known and esteemed in the territory, on which it has been present for about fifteen years.

The lawyer Giuseppe De Cinque, has assisted the entrepreneur in the preliminary phase of the verification of the existing crisis situation, in the planning of the appropriate interventions for the restructuring and the contrast of the existing judicial actions, for the protection and recovery of business claims, for the drafting and filing of the appeals provided for by the bankruptcy law, and for the whole phase of the preparation and filing of the plan, until the final approval of the arrangement plan.

The professional activity was carried out by the lawyer Giuseppe De Cinque in order to achieve the objectives agreed with the work team that includes in its composition the presence of the Chartered Accountants Fabio FABRIZIO, Gianrocco DI BUSSOLO and Giuseppe Schiavo. The LAW FIRM DE CINQUE, at the end of the course of activities put into practice has come to prepare the full appeal with the proposal agreed upon then approved by the Court.

The result achieved by the Team of professionals with the decision of the Court of Vasto is particularly innovative and unpublished on the vast forum, as the approval of the arrangement has taken place pursuant to art. 180 paragraph 4 l.f., c.d. forced approval, with application of the c.d. "Cram Down" tax and social security.

There are very few rulings of the Courts of Abruzzo, to date only three delivered by the Courts of Pescara and Teramo, pursuant to art. 180 paragraph 4 l.f., considering the very recent introduction of the reference legislation (law n. 159 of 27.11.2020 and law 24 August 2021, n. 118), and the particular technicality of the procedure, which requires a wide disclosure, and a complex verification of adequacy, consistency and convenience on the part of the Judge, even with the vote against the public creditors.

To enhance the professional activity carried out by professionals, we also note the professionalism of the C.G. nominated, and the particular value of the reasoning process followed by the College of the Court of Vasto with the approval of the arrangement prior, following the most recent new industry regulations.

The solution to the crisis and the restructuring will allow to conserve places of work for approximately 5 dependent, and the Entrepreneur to continue effectively with a "fresh start" in the own activity.

The restructuring process creates the conditions for the development of important future projects in the field of energy efficiency and the modernisation of public and private real estate, which will continue with new and better future prospects.

In addition to participation in working groups for the management of agreed estimates and bankruptcy, the Firm also includes in its curriculum restructuring plans ex art. 182a approved by numerous national courts. The persevering objective is surely to try every action that can lead to the rescue of the company in order not to disperse the intangible values present in the companies and that only continuity can effectively enhance. Any liquidation path will always tend to destroy and disperse the intangible assets present in the company.

De Cinque Law Firm is increasingly oriented to the provision of consultancy and assistance services aimed at resolving the crisis and restructuring the company, adopting the most modern and appropriate solutions and institutes to the specific case for the restoration of full operation.

The Corporate Crisis and Insolvency Code contains a strong reference to the duty of sound business management and the adequacy of organisational arrangements, with a rapid emergence of the crisis and the timely adoption of the most appropriate measures for the purpose of recovery. The entrepreneur must focus, in the development of the management, the implementation of the tools provided to prevent or, if late, overcome the crisis recovering the business continuity.

With the entry into force of art. 375 of the Code of Corporate Crisis and Insolvency (D.Lgs. n. 14/2019) the art. 2086 c.c. with the provision that "the entrepreneur who operates in corporate or collective form, has the duty to establish an organizational, administrative and accounting structure appropriate to the nature and size of the enterprise, also depending on the timely detection of the crisis of the company and the loss of business continuity, as well as to take action without delay for the adoption and implementation of one of the instruments provided by the legal system for overcoming the crisis and recovering business continuity".

The content of the second paragraph of art. 2086 is a strong reminder of the duty of sound management to which the delegated bodies of companies and the entrepreneur in general are called. It is they who must take care of the adequacy of the arrangements, relying on professionals, legal and tax, with proven experience in the sector.

LAW FIRM DE CINQUE aims to protect the Client in all aspects of the business crisis, and stable collaboration with a "Crisis Team" composed of Chartered Accountants, Certified Professionals, Liquidators and Professional Appraisers, provides customers with a strong professional ally, capable of addressing all aspects of debt restructuring. We support clients in overcoming the many obstacles posed by exposure to creditors, with experience, ability to listen and ability to negotiate out-of-court or insolvency agreements, as well as effective assistance in the out-of-court and judicial recovery of corporate claims. We assist with a qualified and experienced team customers who intend to promote or suffer revocatory actions or liability against directors and statutory auditors, and we are able to support with competence even those who want to access agreed estimates, debt restructuring, proven plans, or other crisis resolution instruments from over-indebtedness.

Concordato di Biase sito Studio Legale De Cinque
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