Luigi Ardizzone, Antonio Principato

The Role of the Bank in the Timely Detec- tion of Crisis of Companies Subject to Early Warning Tools

  • Abstract

Informations and abstract

Keywords: Banks; Insolvency; Early Warning

The essay deals with two different provisions of the new Italian Crisis and Insolvency Code which give banks a particular role in the early warning and management of crisis. Art. 14, para. 4, of the Code establishes a duty for bank and financial intermediaries to signal changes or revocation of loans granted to the company to the Board of statutory auditors, in order to allow it to assess whether a crisis is looming, while according to art. 12, para. 3, of the Code, access to early warning tools itself does not allow banks to withdraw from financing agreements.

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