Le soluzioni concordate alle crisi d?impresa: Profili economico-finanziari

[Autom. eng. transl.] The agreed solutions are an important part of any reform of the insolvency system, due to their potential effectiveness in encouraging the subjects (above all the debtor) to promptly face the crisis, reducing the costs and guaranteeing a better valuation of the assets and higher repayments and / or faster for creditors. The profitable use of these solutions requires their harmonious inclusion in the system: first of all, they must offer sufficient incentive to modify the behavior of the subjects involved, favoring a more timely opening; it is possible that this involves a price to pay, in terms of probability of instrumental use. In economic terms, the insolvency procedures have multiple objectives (valuation of the assets and compliance with the contracts and the repayment order) between which there is a trade-off. The "Competitiveness" decree gave the first jolt to a system that urgently needed action. However, even taking into account the additional provisions approved by the Council of Ministers, the current reform brings the system - at best - in the middle of the ford: some measures are insufficient, others potentially counterproductive; above all, it is legitimate to have doubts about the overall effectiveness of the reform in terms of asset enhancement as little attention is paid to the systematic aspects of the procedures and the incentive to promptly open the crises.