Examples of Italian Bankruptcy Law in a sentence
Under the 1942 Italian Bankruptcy Law, both in-court and out-of-court reorganization procedures were subject to a number of restrictions that inhibited potentially viable deals.
Article 59 of Legislative Decree No. 5 of 9 January 2006 amended the Italian Bankruptcy Law by introducing a supplemental article 72-quater ("Article 72-quater") specifically regulating the impact of the insolvency of a lessee or a lessor under financial lease agreements.
Pursuant to Article 72-quater, the effects of the insolvency of a lessee on a financial lease agreement are regulated by Article 72 of the Italian Bankruptcy Law ("Article 72").
The Court ruled that this compensation is excluded because Article 80 of the Italian Bankruptcy Law concerns only the withdrawal of the lessee from a lease on immovable assets, while the aircraft is a registered movable asset, subject to the relevant regime of Article 815 ICC for movable assets registered in public registers.
On December 18, 2018, this deadline was then extended by the Court of Rome for a further sixty (60) day period upon request of the Company, pursuant to Article 161, paragraph 6, of the Italian Bankruptcy Law, in view of the complexity of the activities to be carried out under the Concordato Plan and the Concordato Proposal, and the deadline for filing the plan and the proposal pursuant to Article 160 et seq.