Banking updates

Italy

Contributed by Legance – Avvocati Associati
Non-possessory floating pledge: new floating charge under Italian law
  • Italy
  • 18 October 2019

A recent reform introduced a non-possessory floating pledge to the Italian legal framework. Under the reform, the perfection of such security can take place without the delivery of a pledged asset to the secured creditor, thus introducing an important exception to the general legal framework. Similar to the floating charge structure, the absence of a dispossession requirement enables entrepreneurs to retain the availability of collateral which can be used in the course of the productive cycle.


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