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The transformation of a limited liability company into a co-ownership of a company does not preclude bankruptcy

  • 06/08/2019

According to the Italian Court of Cassation (judgement no. 16511, 19th June 2019), the “heterogeneous” transformation (pursuant to art. 2500-septies of the italian Civil Code) of a limited liability company into a co-ownership of a company (to which the patrimony has been transferred) does not preclude the declaration of bankruptcy of the company within one year of its cancellation from the business register, since such transition took place between different subjects, distinguished by form and by nature.

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