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Debt restructuring agreement: the creditor's silence according to the Supreme Court

  • 22/05/2023

With judgment No. 13877 of 19 May 2023, the Supreme Court of Cassation held that the dissent of the Agenzia dell'Entrate with respect to a company's debt restructuring arrangement proposal was not validly expressed. The First Civil Section ruled, in fact, that the Agenzia dell'Entrate acts as a mere nuncius of the tax authority holding the claim, having the burden of documenting the latter's will. However, in the absence of any evidence in this regard, any dissent expressed by the Agenzia dell'Entrate cannot be considered to be concretely attributable to the actual holders of the corresponding claims, who must therefore be understood as having remained inactive, within the meaning of Article 11(1) of Law No. 3/2012. In such a case, the rule of silence-assent applies.

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