La Composizione negoziata della crisi: il ruolo dell'Esperto

In recent years, Italy’s insolvency framework has undergone a comprehensive reform, culminating in the introduction of the new Codice della crisi d’impresa e dell’insolvenza, which has replaced the regulatory framework of the previous Legge Fallimentare. This study examines the Composizione negoziata della crisi procedure, one of the most significant innovations introduced by the new Code. This procedure embodies the guiding principles of early crisis detection and business support, enabling enterprises to address financial distress while recovery remains viable, thereby preserving their value. It is structured around key features such as confidentiality, flexibility in access, implementation, and outcomes, as well as minimal judicial intervention. As part of the Composizione negoziata della crisi, a new professional role has been introduced: the Esperto, who undertakes a mediatory and assistance function in negotiations with creditors. This role is the subject of analysis in this research. Finally, this study seeks to provide a theoretical interpretation of the introduction of the Composizione negoziata della crisi and the Esperto into the legal framework, adopting the perspective of neo-institutionalism theory.