Upon completion of the coursework, the student is expected to possess: Knowledge of the fundamental and governing principles of insolvency procedures, as well as of their current legal discipline; ability to understand and interpret the relevant rules of law, and ability to apply such rules to practical matters; ability to illustrate the knowledge acquired showing language skills, including technical language, and logical consistency.
Expected learning outcomes
Upon completion of the course, students who have profitably mastered the subject matter will have an in-depth knowledge of the course topics, with the acquisition of a reasoning method appropriate in order to deal with legal matters related to the regulation of business crisis.
The course, devoted to business crisis, deals primarily with the study of the insolvency proceeding of bankruptcy (fallimento) - enforcement proceeding concerning insolvent commercial entrepreneurs, originally developed in Italy during the Middle Ages and from there spread to the rest of Europe and worldwide -. It also deals with the so-called minor insolvency proceedings: among them, the voluntary arrangement with creditors (concordato preventivo) - which in recent years has assumed particular importance due to its frequent adoption - and in addition, by way of brief references, the extraordinary administration of major insolvent companies (amministrazione straordinaria delle grandi imprese insolventi) - which was applied, for example, to the Parmalat insolvency and to Alitalia -, the compulsory administrative winding-up (liquidazione coatta amministrativa) - applicable to banking institutions - and the proceeding of over-indebtedness crisis settlement (composizione della crisi da sovraindebitamento). In particular, the 9-CFUs lecture module focuses on the proceedings of bankruptcy and voluntary arrangement with creditors, as well as, by way of brief references, to the other minor insolvency proceedings; the 6-CFUs lecture module focuses on the proceeding of bankruptcy only. Both the 9-CFUs and the 6-CFUs lecture modules are complemented by an integrative course on business crisis negotiation solutions and by a number of seminars; both the integrative course and the seminars are optional and with an in-depth study purpose. As a new Business Crisis and Insolvency Code is due to come into force in 2022, the course will also cover the new features soon to be introduced by the new Code.
Prerequisites for admission
The student must be highly motivated and interested towards the study of a rather difficult discipline, but an extremely challenging one, which, on the one hand, lies at the crossroads between civil procedure law, private law and commercial law (therefore, the student must be acquainted with the basic principles of these subject matters); on the other hand, it is a very frequently applied discipline, also in cases of significant importance (as shown, for example, by the Ilva and Alitalia cases); and finally, it is essential for anyone wishing to take on the path of legal professions.
The course consists of face-to-face lessons, in the context of which also the practical implications of the discipline are taken into account (with particular reference to its application to actual cases, often of national significance). The course is complemented by an additional module focusing on insolvency proceedings other than bankruptcy, and by a number of seminars on specific subjects, variable from year to year. Students taking active part in the additional module or in seminars will be acknowledged with three additional credits.
A. Nigro, D. Vattermoli, Diritto della crisi delle imprese - Le procedure concorsuali, Bologna, Il Mulino, 4th ed., 2017 (not the 5th edition, though already released). For students taking the 6-CFUs exam, the course program comprises Chapters from I to XVI (included) only. For students taking the 9-CFUs exam, the program comprises Chapters from I to XVII (included) and, by way of brief references only, Chapters from XVIII to XXIV.
Assessment methods and Criteria
The final evaluation forms the object of an oral exam and is expressed in thirtieths, eventually cum laude. During the course an intermediate written exam will take place, for students attending the lectures only. The written exam is related to the topics dealt with during the lectures, and is structured in the form of a questionnaire containing open questions. Evaluation criteria for the exams take into consideration content accuracy, clarity of reasoning, critical analysis and rethinking skills