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Italian bankruptcy law provides that businesses in distress or that are insolvent can make use of: judicial insolvency processes whose principal purpose is the liquidation of the company's assets, such as winding-up and liquidation, and non-judicial rescue arrangements whose purpose is instead to restore financial stability to the business via a reorganisation with creditor assent, such as a certified rescue plan and debt restructuring agreement.

Both bankruptcy and reorganisation processes are governed by the Montenegrin Insolvency Law.

When faced with financial difficulties, debtors are faced with two broad options: insolvency/ bankruptcy; or a voluntary reorganisation. The options available to a financially distressed debtor will inevitably depend on whether the debtor is a company or an individual or partnership.

Slovak law provides for two particular processes for debtors in financial difficulties: bankruptcy and restructuring. Both proceedings are initiated solely upon the petition (proposal) and are divided into two phases. Bankruptcy is commenced upon the declaration of bankruptcy by the court and is preceded by bankruptcy proceedings (initial phase) where ascertainment of the debtor's property is carried out by a trustee (in the Slovak Republic, the administrator). On the other hand, restructuring is commenced upon its permit by the court and is preceded by restructuring proceedings (initial phase) where the evaluation of all prerequisites is executed by the court.

A bespoke structured finance deal out of Germany last month suggests the resurrection of Europe’s securitisation market is well underway, and that it is diversifying away from the traditional ABS model

The 25-year £200 million bond is one of the first to be issued by a local authority in decades

The first Australian dollar term loan B tranche highlights the country’s superannuation funds’ search for yield

IFLR is polling readers on how financial regulators should tackle cyber security risks. All votes and comments are anonymous

The long-awaited finalisation of Regulation A offers another option for small companies in the US and Canada to step up slowly into the public market

The write-down terms for AT1s are becoming standardised in Asia’s two largest jurisdictions, according to Fitch