Student guide Faculty of Economics A.Y. 2008/09

The aim of the course is to provide students with the basic tools needed to understand the operation of the legislation governing companies in crisis.  The lectures will have a mixed theoretical and practical format. In the case of subjects which benefit from a direct encounter with “living law”, talks will be given by judges, professionals and lawyers.

The syllabus is structured to allow students to acquire basic knowledge which will be useful if they decide to enter private practice. Extensive use will be made of cases and materials drawn from practical experience.

1.    Introduction; general aspects of insolvency proceedings; insolvency and breach of contract; differences from individual enforcement proceedings.

2.    Parties which may be declared bankrupt; application of the Civil Code and Bankruptcy Act to commercial business owners; small business owners and exemption from bankruptcy; the objective pre-requisites for bankruptability: the legal concept of insolvency; application for adjudication of bankruptcy and the pre-bankruptcy hearing.

3.    The adjudication of bankruptcy: contents and publication; grounds for appeal and revocation of bankruptcy; the bodies involved in the proceedings: the Bankruptcy Court, the Official Receiver, the Trustee in Bankruptcy, and the Creditors’ Committee.

4.    Initial tasks of the trustee in bankruptcy: drafting of inventory, provisional operation if appropriate, notice to creditors, report under s. 33 of the Bankruptcy Act. The liquidation plan.

5.    The effects of bankruptcy for the bankrupt and the creditors.

6.    The effects of bankruptcy on acts prejudicial to creditors (applications for revocation).

7.    The effects of bankruptcy on pending agreements.

8.    The formation and establishment of the list of debts.

9.    Realisation of assets; sales of chattels, securities and real estate; leasing and sale of the bankrupt firm.

10.  Statement of account, distribution of assets and closure of bankruptcy; composition with creditors.

11.  Liquidation of companies.

12.  Bankruptcy offences.

13.  Insolvency proceedings alternative to bankruptcy: pre-bankruptcy composition with creditors, debt restructuring agreements and receivership.

14.  Insolvent banks.

An oral exam will be held at the end of the course.

E. BERTACCHINI, L. GUALANDI, G. PACCHI, S. PACCHI, G. SCARSELLI, Manuale di Dirirtto fallimentare, Giuffré, Milan, 2006.

The parts covered in the exam will be indicated during the course.