Business crisis: how to get a second chance?

Business crisis: how to get a second chance?

The European legislator has also carried the reform drive with Regulation 2015/848, specifically concerning insolvency procedures and their role in the internal market in relation to cross-border relations and relations, and with Recommendation 135/2014 of the Commission which introduced two important concepts:

    The timely emergence of the crisis and the consequent opportunity for restructuring at an early stage;
    The idea of offering the debtor a "second chance", very dear to Anglo-Saxon culture and almost unknown to the Italian experience.

What Europe has asked to recover is the notion according to which business risk can neither coincide with criminal risk nor with the risk of prejudicial almost indelible civil consequences.

The objective is to "normalize" the company's difficult situation, considering it a possible and physiological condition of the economic activity, providing suitable tools for its timely emergence and for the agreed and amicable resolution, with the effect of reserving bankruptcy – now called judicial liquidation – only in the most extreme cases. In fact, the debtor and the creditors are the most interested - and, therefore, also the best solvers - in finding the way out of the crisis situation, possibly avoiding insolvency.

The entrepreneur's duty is to adopt suitable measures to promptly detect the state of crisis, such as CPM software to measure the company's economic and financial performance.