Certification of Restructuring Plans

Articles 67 and 161, paragraph 3, of the Bankruptcy Law provide, respectively within the context of bankruptcy and pre-bankruptcy arrangement, the possibility for the entrepreneur to present a restructuring plan in order to try to save the company, in the first case, substantially inhibiting the revocatory action under certain conditions, in the second, making access to the arrangement procedure possible.

The plan pursuant to Article 67 aims to confirm that the measures implemented or planned will allow the restructuring of the company's debt and the rebalancing of its financial situation.

The certification report in the application for a pre-bankruptcy arrangement pursuant to Article 161 lf must ascertain the veracity of the company data and the feasibility of the plan itself .

In any case, the plan is drawn up by the administrative body, but its feasibility must be certified by a professional with specific qualifications.