News
“Mixed” composition: non-application of payment of 20% on behalf of unsecured creditors
- 04/04/2018
A composition is called “mixed” (concordato “misto”) when the resources for the satisfaction of creditors come partly from the prosecution of the business and partly from the liquidation of non-functional assets.
The Court of Como, with Judgment of 27th February 2018, has stated that as to the “mixed” composition which was under its scrutiny, the continuation of the business appeared to be prevailing in comparison with the activity of liquidation of assets.
The Court has then concluded that, in the case at issue, it could not be applied the obligation to pay at least 20% of unsecured credits, which is set forth in article 182 of the Insolvency Law and which applies to compositions where all assets are liquidated.
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