News
Arrangement with creditors: resolution only if the prejudice to the creditor is considered to be serious
- 01/10/2018
With Judicial Decree dated 27 July 2018, the Court of Ravenna has clarified the concept of "serious prejudice" deriving from the creditor by the settlement procedure, capable of justifying its application for the resolution request.
According to the panel, it is necessary to evaluate the "objective" dimension of the breach by comparing what was initially shown and the concrete possibility of satisfying the creditors: since in this case not only was it not possible to satisfy the unsecured, but even to pay entirely the privileged creditors, and, moreover, considering that no property of the debtor company had been sold, the Court stated the acceptance of the resolution request submitted by the creditor.
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