(Teleborsa) – Il Court of Naples has approved a new agreement debt restructuring. The approval concerns a recovery plan for a company that operates under a specific ministerial concession, in the sector of judicial procedures. The company relied on Ezio Starry (tax and financial advisor, head of fiscal policies of the Milton Friedman Institute) e Daniele D’Ambrosio (attester of the recovery plan and president of the Direct and Indirect Taxes Commission of the ODCEC of Naples). Both were the protagonists of this journey, assisted by the legal advisor Antonio Pio Morcone.
The professionals proposed and certified a plan rehabilitation which provides an agreement that protects a company in difficulty and at the same time its creditors, far exceeding the percentage of 60% of the creditors involved in the negotiations; in fact, the total debts covered by the agreement amount to 3,227,239 euros debts “strangers” to said agreement for 357,883 euros. The agreement was approved by the VII section of the Court of Naples, presided over by Gianpiero Fuck, and it garnered everyone’s satisfaction. “These procedures are fundamental to help companies, creditors, the general economy but also the state coffers. This agreement also favors the coffers of social security institutions, in favor of the Revenue Agency and the Collection Agency in the amount of 27.50% and in favor of the INPS in the amount of 87.50%”, declare the Neapolitan accountants Stellato and D’Ambrosio, ‘champions’ of alternative systems to liquidation for resolving difficulties for Italian companies.
“Meanwhile, the Ministry of Justice has sent the definitive text back to the Council of Ministers which, finally, provides for the possibility of settling tax and social security debts as part of the negotiated settlement. It should be remembered – underline Stellato and D’Ambrosio – that the institute of negotiated settlement, according to the current formulationprovides the possibility of to negotiate The debt social towards all creditors, excluding the above debts from the negotiations and referring to another institution, the tax transaction in the context of the negotiations preceding the restructuring agreements, the facilitated definition of tax and social security claims. Well, this exclusion and the exclusive provision of a reduction of one third of the additional sanctions in tax and contributory debts have in fact limited the use of the negotiated settlement, often relegating it to the supporting role of the other forms of risk resolution and expected insolvency by the CCII
“There composition negotiated, like restructuring agreements but with different and simpler methods of access to the procedure, is an extra-judicial instrument (if protection measures that may be invoked by the applicant are excluded) which favors the free initiative of the parties in the search for the most profitable agreements between the parties as an alternative to the judicial liquidation of the company – they added -. There resolution of company difficulties, avoiding the liquidation alternative, is one of the ‘mantras’ of the reform dictated by the new Corporate Crisis Code. The tools proposed by the law often represent a complex, arduous and tortuous road, made up of intuition, negotiations, mutual concessions, but at the same time effective and efficient in determining the best solution for businesses, tax authorities and taxpayers, they are capable of demonstrating that even in the most difficult situations complicated – conclude the two accountants – it is possible to identify virtuous solutions to support both companies and creditors, both public and private”.
