Law firm Paul Hastings said with Law No. 132 of August 6, 2015 Italy’s parliament finally passed &emdash; with some amendments &emdash; Law Decree No. 83 of June 27, 2015 amending various provisions of Royal Decree No. 267 dated March 16, 1942, the Bankruptcy Act, the civil code, the code of civil procedure and certain tax provisions.

The amendments aim to facilitate debt restructurings, support distressed companies in their turnaround attempts and foster quicker liquidations in bankruptcy proceedings.