BANKRUPTCY LAW

The course aims at analyzing the crisis management with a problem-solving educational approach. The course is intended to solicit students' analysis and reasoning skills regarding real cases that fall under the so-called crisis company law and in financial operations to support restructuring and turn-around. Part of the course will be conducted in English to provide some elements of knowledge that can be spent also in international law firms. A training visit to a leading bad debt fund specialised in corporate restructuring will also be organised.

Knowledge of commercial and civil law

Knowledge and understanding: The course will offer practical tools for analysing business management in situations of financial stress. Applying knowledge and understanding: The students will be able to develop, present, and negotiate a restructuring plan with investors and creditors Making judgements: We expect that students will be able to analyse the current economic situation, with a focus on companies under stress and in severe financial crisis, bearing in mind the dynamics of the UTP and NPL market. Through the course, students will be asked to analyse how/when/why certain restructuring operations are put in place, while also trying to specifically understand their motivations and purposes. Communications Skills: The course will enable students to acquire and understand how to present and negotiate a restructuring plan, including in negotiated crisis resolution. Learning skills: This course will contribute to educating students, providing them with the tools to assess the possibility of preserving business continuity and the value it can generate even in crisis scenarios.

The course deals with crisis management tools aimed at the recovery of business continuity or liquidation, with a look at the corporate governance implications that these may involve. Emphasis will be placed on the new Crisis Code and the EU Directive No. 2019/1023 so-called ‘Insolvency’ on restructuring frameworks and the alert system. During the lectures, the new elements contained in the new Crisis Code and corresponding to the current remedies will be explained.

G. D’Attore, Manuale di diritto della crisi e dell’insolvenza, Giappichelli , III Ed., 2024, pp. 61-93; 97-179; 181-191; 195-205; 207-221; 240-277; 353-360. V. De Sensi, Composizione Negoziata della Crisi d’Impresa, in Enciclopedia del Diritto – Crisi di Impresa, Giuffrè, 2024, pp. 135-154 (will be provided by the Professor). Other practice material will be provided by the Professor.

Interactive lectures and presentation of relevant empirical topics. Students’ participation during lectures is strongly encouraged and will be taken into account in the final assessment

The examination shall consist of an oral interview in which the student shall demonstrate that he/she knows and understands the institutions and principles of corporate crisis law, also with regard to corporate governance, and that he/she is able to apply them to practical cases brought to his/her attention by the lecturer through the presentation of concrete examples. The student must be able to independently analyse the relevant sources and case law guidelines on the subject and correctly use the technical-legal vocabulary, thus demonstrating that he/she has achieved the study method and learning ability necessary to continue to study the subject independently. The following assessment criteria will be taken into account for the purposes of awarding the grade in thirtieths: (i) knowledge and understanding of the institutes and principles of the subject and ability to apply them to concrete cases (65 %); (ii) technical-legal vocabulary, ability to consult and evaluate relevant sources and acquisition of the study method (35 %). The presence of educational gaps on one or more institutes or principles will result in an insufficient assessment even in the presence of a basic knowledge of the subject.

Strong interest in the subject and passing the examination. Willingness of the student to analyse practical cases from an operational viewpoint to perceive the fundamental issues.