Executory Contracts in Italian Law: the Current Situation and the Global "Rordorf Reform"

The article offers an overview of the discipline regarding the executory contracts under Italian Law in Bankruptcy, Arrangements with Creditors based on Liquidation, and Arrangement with Creditors on a Going Concern Basis procedures. Given the different goals pursued by each of these procedures, the relevant rules are substantially dissimilar. Obviously, the different goals affect the treatment of executory contracts, since different rules apply depending on whether a liquidation or a reorganization proceeding is commenced. The article also points out that the Italian Insolvency Law is under a review from a global viewpoint. The Italian Parliament has recently approved the “Rordorf Reform”. This new discipline might provide corrections and integrations regarding the rules on executory contracts, in both Bankruptcy and Arrangement with Creditors, but it is possible to say that the structure of the Law, and its principles will, probably, not significantly change the overall discipline on executory contracts.

L’articolo si propone di fornire al lettore, anche straniero, l’esame della disciplina dei degli executory contracts (dei “contratti pendenti”) nel fallimento e nel concordato preventivo – sia liquidatorio sia in continuità - mettendo in evidenza i diversi obiettivi delle varie discipline che vengono esaminate. Con riferimento al fallimento, oltre alla regola generale (di cui all’art. 72 l. fall.), vengono esaminate anche le principali disposizioni relative ai singoli contratti. All’esame della disciplina attuale si affianca quello della possibile evoluzione della materia a seguito dell’approvazione della Delega al Governo per la riforma delle discipline della crisi di impresa e dell’insolvenza (c.d. “Riforma Rordorf”) ovvero della l. 19 ottobre 2017, n. 155.