Italy Update: The court must suspend the enforcement sale if the asset is sold below the “fair market price”

In the context of the procedure for opposition to the passive status governed by Article 99 of the Bankruptcy Law, new applications from the opposing party are inadmissible in relation to those explained in the previous stage, without the principle of admissibility, in the proceedings at first instance, within the first period referred to in the sixth paragraph of Article 183, of the Civil Code, of the change of one or both objective elements of the application, petitum e causa petendi, provided that it, thus modified, is in any case connected to the substantive case alleged in court.

By Quorum, Italy, a Transatlantic Law International Affiliated Firm. 

For further information or for any assistance please contact italy@transatlanticlaw.com

Disclaimer: Transatlantic Law International Limited is a UK registered limited liability company providing international business and legal solutions through its own resources and the expertise of over 105 affiliated independent law firms in over 95 countries worldwide. This article is for background information only and provided in the context of the applicable law when published and does not constitute legal advice and cannot be relied on as such for any matter. Legal advice may be provided subject to the retention of Transatlantic Law International Limited’s services and its governing terms and conditions of service. TransatlanticLaw International Limited, based at 42 Brook Street, London W1K 5DB, United Kingdom, is registered with Companies House, Reg Nr. 361484, with its registered address at 83 Cambridge Street, London SW1V 4PS, United Kingdom.