Ico credits and the bankruptcy reform

shornasarker789

To this end, the various liquidity guarantee measures were established to support and motivate economic activity through the approval of a line of guarantees by the state through the official credit institute (ico), in order to renew existing loans or obtain new financing through credit institutions. Last june, the possibility of extending the term of the guarantees granted to freelancers and companies charged to the ico guarantee lines after june 30, once the term of the temporary framework for state aid approved by the european commission has expired, although the effective application of this measure is subject to the prior authorization of the community executive. The extension of the term of the guarantees should allow companies and the self-employed, prior approval by the financial institution, to extend the repayment term of their loans up to eight or ten years.

In this way, the government seeks to facilitate the Italy Telegram Number Data maintenance of viable companies that have difficulties once the time frame has expired, by lengthening the term of their guaranteed loan, granting them a greater margin to meet their obligations. The end of the lack of ico credits, understood as the period in which companies did not have to pay the credit to the bank, expired last june. However, only some economic sectors (especially those affected by the war between russia and ukraine) have been able to extend the term of their ico-backed loans for six months without the need to negotiate with their financial institution. Indeed, one measure demanded was the extension of the grace period.



This means that the beneficiaries of said loans are only obliged to pay the interest, not the principal. Thus, increases the liquidity of the affected companies, which are severely affected as a result of the rise in interest rates, high levels of inflation and the risk of stagflation. However, such a request also has many detractors since they consider that it is still a way of artificially preserving companies that are already in economic difficulties. In this context, it is worth taking into account the regulation of debt refinancing operations guaranteed by the ico after the last modification of the bankruptcy law, especially regarding restructuring plans or agreements. In this sense, indicate that said credits derived from public guarantees will be considered financial credit. For all purposes provided for in the bankruptcy law, such as, among others, the formation of classes and the exemption of unsatisfied liabilities.