The Italian insolvency framework makes several restructuring tools available to firms and their creditors, so that distress does not necessarily lead to liquidation. This paper analyses two such instruments: debt restructuring agreements (DRAs) and compositions with creditors (CCs), both...

In recent years, a fragmented global picture of legislation supporting mediation in finance has emerged and a number of ADR service providers have started to offer mediation services specifically for the financial market. Although academics and professional express great appreciation for...

Traditionally, in Italy the resolution of corporate distress was constricted to formal insolvency procedures. Until, recently, the development of a new approach toward insolvency and business failure has allowed legislators, both at a national and European level, to begin to have to pay an...