Ateneo - UPO

The course relates to the examination of the regulation inherent to the Crisis and Insolvency Code of business crisis and insolvency (Legislative Decree no.14/2019).

Recommended Textbooks: -JORIO, Il diritto della crisi e dell’insolvenza, Giappichelli, 2ª ed., 2025; Or, alternatively -PACCHI e AMBROSINI, Diritto della crisi e dell’insolvenza, 4ª ed., Zanichelli, 2025; D’ATTORRE, Manuale di diritto della crisi e dell’insolvenza, 3ª ed., Giappichelli, 2024; -FABIANI, Sistema, principi e regole del diritto della crisi d’impresa, La Tribuna-Il Foro italiano, 2ª ed., 2024.

At the end of the course, students must demonstrate that they have acquired, in addition to the knowledge of the legislation and an appropriate technical language, also autonomy of judgment and to be able to follow the evolution of legislation in this matter.
The course carries 6 ECTS credits, corresponding to 45 hours of in-person teaching activities, consisting of lectures (teacher-led instruction – DE) and exercises (interactive teaching – DI), and 105 hours of individual study (self-directed learning).

Have passed the exams of private law and commercial law.

The course is taught through lectures supplemented by the analysis and discussion of statutory provisions, judicial decisions and other materials made available on the DIR platform.
Lectures are designed to develop knowledge and understanding of the relevant legal institutions. Guided analysis of cases and judicial decisions is intended to develop students' ability to apply their knowledge and exercise independent judgement. Classroom discussion encourages active participation, legal reasoning and the appropriate use of technical legal terminology. Independent consultation of legislation, case law and bibliographic sources contributes to the development of autonomous learning and updating skills.
Attendance is strongly recommended but not compulsory.

Students with physical disabilities, Learning Disabilities or Special Education Needs can request specific services and tools via the Staff Sviluppo e Coordinamento Carriere e Servizi alle Studentesse e agli Studenti, consulting the University webpage: https://www.uniupo.it/en/services/servicesstudents-physical-or-learning-disabilities Students with disabilities, learning disabilities or special education needs, once they have contacted the University Staff, can refer to the tutor in charge of the course to define the examination modalities, concerning academic aspects.

The examination consists of an oral test, normally structured around three questions covering different parts of the syllabus.
The examination is designed to assess: (i) knowledge and understanding of the principles and legal institutions of crisis and insolvency law; (ii) the ability to identify the applicable legal framework and apply the acquired knowledge to specific factual situations; (iii) independent judgement and the ability to critically discuss interpretative issues and case-law developments; (iv) clarity of presentation, rigorous legal reasoning and command of technical legal terminology; and (v) the ability to establish connections between different legal institutions and understand legislative developments in the field.
Assessment criteria.
Knowledge limited to the essential elements of the subject, provided that it is accurate and presented with adequate clarity, will generally correspond to grades between 18 and 20/30. Fair or good knowledge of the relevant legal institutions, together with the ability to establish connections and correctly apply the rules to straightforward cases, will generally correspond to grades between 21 and 24/30. Broad knowledge of the subject, combined with independent analysis and the ability to critically discuss the main interpretative issues, will generally correspond to grades between 25 and 27/30. Complete and in-depth knowledge, a high ability to establish systematic connections and apply the relevant rules to complex cases, independent judgement, rigorous legal reasoning and full command of technical legal terminology will correspond to grades between 28 and 30/30. Honours may be awarded where the student demonstrates outstanding performance in all the above areas.

-Origin and evolution of crisis and insolvency law
-General principles

PART I - THE TIMELY DETECTION OF THE BUSINESS CRISIS
1. Amendments to the civil code: measures and arrangements for the timely detection of the crisis
2. Reports for the early detection of the crisis and other "early warning" tools
3. The negotiated settlement of the crisis
4. The simplified arrangement with creditors for the liquidation of assets

PART II - NEGOTIATED CRISIS REGULATION
1. Out-of-court settlement
2. The certified recovery plans
3. Debt restructuring agreements
4. The moratorium agreement
5. The restructuring plan subject to approval
6. The arrangement with creditors

PART III - THE JUDICIAL LIQUIDATION
1. The prerequisites
2. The procedure
3. The declaration of insolvency (opening judgement) and the appeals
4. The procedural bodies: court, judge, receiver (liquidator) and creditors' committee
5. The effects of the judicial liquidation for the debtor
5.1. For creditors
5.2. On detrimental acts to creditors
5.3. On pending legal relations (contracts)
8. The assessment of the liabilities
9. Provisional operating and liquidation of assets
10. Distribution of the sums
11. The judicial liquidation of companies and non-corporate collective enterprises
12. Termination of the procedure and agreement with creditors in the judicial liquidation
13. Discharge

PART IV – ENTERPRISE GROUPS
1. Arrangement with creditors, restructuring agreements and group certified recovery plans
2. Unified judicial liquidation procedure
3. Common rules

PART V - ALTERNATIVE PROCEDURES
1. The compulsory administrative liquidation
2. The extraordinary administration of large companies in crisis

PART VI - OVER-INDEBTEDNESS PROCEDURES
1. Common rules
2. Restructuring of the consumer's debts
3. Minor arrangement with creditors
4. Controlled judicial liquidation (over-indebtedness)
5. Family procedures
6. Discharge of the dispossessed over-indebted subject

Integration of the gender dimension.
Where relevant, the gender dimension will be considered in the analysis of situations of economic vulnerability related to over-indebtedness.

1. Knowledge and understanding. By the end of the course, students will be expected to know and understand the fundamental principles and legal institutions of crisis and insolvency law governed by the Italian Crisis and Insolvency Code, with particular reference to early detection measures, negotiated crisis-resolution instruments, arrangements with creditors, judicial liquidation, proceedings concerning groups of companies and over-indebtedness procedures.
2. Applying knowledge and understanding. Students will be able to identify the rules applicable to straightforward factual situations, legally qualify situations of crisis or insolvency and identify the essential features of the instruments provided by law for addressing them.
3. Making judgements. Students will be able to compare different interpretations developed by legal scholarship and case law, critically assessing their grounds and consequences, and to understand and follow legislative developments in the field.
4. Communication skills. Students will be able to explain the main institutions of crisis and insolvency law clearly and rigorously, using appropriate legal terminology and providing reasoned arguments in support of the proposed solutions.
5. Learning skills. Students will acquire the methodological tools required to independently consult legislation, case law and legal scholarship and to update their knowledge in a field characterised by frequent legislative developments.
Minimum learning level. In order to pass the examination, students must demonstrate accurate knowledge of the fundamental legal institutions, the ability to identify their essential legal framework and the ability to explain them clearly using appropriate legal terminology.
Advanced learning level. An advanced level requires a complete and systematic knowledge of the subject, the ability to establish connections between different legal institutions, apply knowledge to specific cases, critically discuss interpretative issues and case-law developments, and independently provide reasoned legal solutions.