On 14 July 2023, the Italian Supreme Court issued its judgement in case No. 15475 ruling, inter alia, that it is not necessary for an action for revocation (azione revocatoria) to be deemed legitimate that the consistency of the debtor's assets is jeopardized, it being sufficient that the act of disposal has made the satisfaction of the claim less easy or more difficult. The Supreme Court added that a qualitative change in debtor's assets - such as the replacement of immovable assets by quotaholdings - also justifies an action for revocation.
Originally published by August - September, 2023
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.