Analysis of Ordinance No. 18522 of 2024: The Commissioner's Notice and Its Role in Extraordinary Administration

The recent Ordinance No. 18522 of July 8, 2024, issued by the Court of Cassation, provides important clarifications regarding the notice to creditors as provided by Article 207 of the bankruptcy law. This provision, highly relevant in the context of extraordinary administration procedures, deserves an in-depth analysis to understand its implications for creditors and the formation of the passive state.

The Role of the Notice to Creditors

The ordinance clarifies that the notice to creditors, mandatory for the commissioner, should not be understood as an act of acknowledgment of debts. In fact, the notice serves an informational function, allowing creditors to be aware of the ongoing procedure and to exercise their rights. This aspect is fundamental to ensure transparency and fairness in the bankruptcy procedure.

Notice of the commissioner pursuant to Article 207 of the bankruptcy law - Scope - Communication to creditors and third parties of the results of the accounting - Preclusive effectiveness on the formation of the passive state - Exclusion. In terms of the verification of the passive state in extraordinary administration, the notice to creditors for verification, as provided by Article 207 of the bankruptcy law, constitutes a mandatory act for the commissioner, intended as a mere provocatio ad agendum towards those who are creditors based on the debtor's accounting records, so that they are informed of the ongoing procedure and can assert their rights in the competition; therefore, with this notice, the commissioner does not express any preliminary judgment on the possible future admission to the passive state, nor does he carry out a recognition of the debt.

Implications for Creditors

  • Transparent information about the debtor's debt situation.
  • Opportunity for creditors to submit their applications for admission to the passive state.
  • Clarity on the distinction between the notice and the formal admission of debts.

This ruling, therefore, not only reaffirms the informational nature of the notice but also emphasizes the importance of protecting creditors' rights in a corporate crisis context. The bankruptcy law, in this case, acts as a guarantee of fairness and transparency, allowing all involved parties to access the necessary information to defend their interests.

Conclusions

In summary, Ordinance No. 18522 of 2024 represents an important step towards clarity in extraordinary administration procedures and the protection of creditors' rights. It highlights how the notice to creditors, far from being a judgment on debts, constitutes a fundamental communication tool that allows for the active participation of all parties involved. It is therefore essential for creditors to be always informed and ready to assert their rights, so as not to miss opportunities in the complex system of bankruptcy procedures.

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