Il concordato preventivo omologato senza il consenso espresso di alcuna classe

The case-note examines a recent court decision in which a concordato preventivo (composition with
creditors) was confirmed without the express consent of any class of creditors — before the entry into force of the
third amendment to the Code of the Crisis. The court applied jointly the “forced adhesion procedure” for tax
and/or social security creditors provided for in Art. 88, comma 2 bis, c.c.i. — which allowed the classes of tax
and social security creditors to be counted as adherents to the proposal — and the cross-class cram-down
mechanism as regulated by Art. 112, paragraph 2, c.c.i. — which permitted the confirmation of the concordato
even without the approval of all classes. The author, critically examining the decision, agrees with the
interpretation that relies on the functional aspect to consider the joint application of the forced adhesion
procedure for public creditors and the cross-class cram-down mechanism as not possible