ITALY Trends and Developments Contributed by: Cristian Fischetti, LEXIA
turing agreements. Roughly 15% of the unsuccessful procedures resulted in an application for a simplified arrangement for the liquidation of assets. It should be noted that these percentages are approximate and refer to the proceedings registered after the conclu - sion of the CNC, without indicating their final outcome in terms of homologation or closure. In conclusion, the CNC represents a fundamental step in the modernisation of the Italian insolvency frame - work. By promoting early intervention, dialogue with creditors and business continuity, the CNC has shifted the focus from a liquidation-oriented system to one centred on recovery and co-operation. Nevertheless, the data shows that its effectiveness remains closely linked to the company’s size, its governance structure, and access to competent professionals.
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