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200301 ||| eng |
| 020 |
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|a 9781484378427
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| 100 |
1 |
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|a Belhocine, Nazim
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| 245 |
0 |
0 |
|a The Insolvency Regime for Large Enterprises in Italy: An Economic and Legal Assessment
|c Nazim Belhocine, Daniel Garcia-Macia, Jose Garrido
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2018
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| 300 |
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|a 34 pages
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| 651 |
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4 |
|a Italy
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| 653 |
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|a Economics
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| 653 |
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|a Finance
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Financial crises
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| 653 |
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|a Financial sector policy and analysis
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| 653 |
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|a Special resolution regime
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| 653 |
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|a Aggregate Labor Productivity
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| 653 |
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|a Labor
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| 653 |
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|a Economics of specific sectors
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| 653 |
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|a Informal Economy
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Currency crises
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| 653 |
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|a Liquidation
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| 653 |
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|a International Economics
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Economic theory
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| 653 |
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|a Income economics
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| 653 |
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|a Employment
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a Revenue administration
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| 653 |
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|a Administration in revenue administration
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| 653 |
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|a Corporation and Securities Law
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| 653 |
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|a Labour
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| 653 |
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|a Bankruptcy
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| 653 |
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|a Economics: General
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| 653 |
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|a Debt
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| 653 |
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|a Unemployment
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| 653 |
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|a Informal sector
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| 653 |
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|a Crisis management
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| 653 |
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|a Financial Institutions and Services: Government Policy and Regulation
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| 653 |
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|a Economic sectors
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| 653 |
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|a Aggregate Human Capital
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| 653 |
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|a Corporate Finance
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| 653 |
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|a Solvency
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| 653 |
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|a Taxation, Subsidies, and Revenue: General
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Wages
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| 653 |
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|a Underground Econom
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| 653 |
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|a Intergenerational Income Distribution
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| 653 |
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|a Public Finance
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| 653 |
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|a Corporate insolvency
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| 653 |
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|a Finance: General
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| 653 |
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|a Revenue
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| 700 |
1 |
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|a Garcia-Macia, Daniel
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| 700 |
1 |
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|a Garrido, Jose
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781484378427.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2018/218/001.2018.issue-218-en.xml?cid=46276-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a The modernization of Italy’s insolvency framework has been the subject of much interest in recent years, related not least to its role in potentially facilitating an efficient allocation of resources. A unique feature of Italy’s insolvency framework is a special regime for large enterprises known as “extraordinary administration”. This paper evaluates the merits of this special regime by assessing its efficacy and success in achieving its stated goals and comparing its features to international standards and best practices. It finds that the special regime tends to impose large costs on creditors and the state. The regime results, in most cases, in the sale of parts of the group, followed by a liquidation phase of the remaining assets which can take longer than the general regime, hindering legal certainty for creditors and more generally economic efficiency, investment and job creation. Based on international best practices and experience, consideration should be given to folding the special regime into the general insolvency regime, possibly with provisions to allow for state intervention in specific well-defined circumstances
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