Il coordinamento tra la composizione negoziata della crisi e l'apertura della liquidazione giudiziale o dell'amministrazione straordinaria

This paper addresses the problem of how to coordinate the negotiated settlement of the crisis with the judicial liquidation or extraordinary administration procedures. In the first part, after highlighting the fact that the negotiated settlement is not encompassed in the unitary proceeding set forth in Articles 40-53 of the Business Crisis and Insolvency Code (“B.C.I.C.”), the work focuses on the possible points of interference between this restructuring tool and the two above-mentioned insolvency procedures. The second part, then, analyses three provisions specifically dealing with the problem of coordination in the context of the negotiated settlement of the crisis, namely Articles 18(4) and 25-quinquies B.C.I.C. and Article 2(2) of the Decree-Law 347/2003. Particular attention is paid to the interpretation issues raised by these provisions.