On 27 September, Legislative Decree No. 136/2024 on supplementary and corrective provisions to the business crisis and insolvency code referred to in Legislative Decree No 14 of 12 January 2019.

This is the third revision of the Code (hence the so-called Correttivo-ter), which has the declared aim of facilitating the effectiveness and efficiency of the crisis and insolvency management system. To this end, important work was carried out to correct the coordination defects between institutions and between provisions that had emerged as a result of the previous interventions and to amend certain material errors; to better coordinate the procedural discipline with the substantive provisions; to improve the wording of many rules; and to provide clarifications on interpretative and applicative issues that had arisen in the first years of application of the Code.

Among the main changes, those that affected the negotiated crisis resolution and the reporting requirements for the early emergence of the crisis; the unitary procedure; debt restructuring agreements; the restructuring plan subject to endorsement; and the arrangement with creditors appear relevant.

The measure, which consists of 57 articles, entered into force on 28 September.