Mission
The Italian Bankruptcy Act approved in 2005 as amended in 2012 has dramatically shaped non-insolvency procedures through which insolvencies or business crises can be handled.
Within such proceedings which have been undoubtedly aimed at increasing the value of individual business agreements thus strengthening negotiations and legitimacy-controls towards the relevant surveillance by the Judiciary, the role of experts and certifiers has definitely gone from strength to strength.
There are experts in recovery plans under article 67 of the Italian Bankruptcy Act, in restructuring plans pursuant to art 182 bis of the Italian Bankruptcy Act, insolvency settlements in compliance with article 124 of the Italian Bankruptcy Act, preventative agreements under articles 160, 161, 182 quinquies of the same Act.
Such experts are requested to provide assessments generally amenable to the truthfulness of the data collected from the debtor company and the feasibility of the proposals for each procedure.
Only professionals members of the Register of Solicitors and Chartered Accountants and Auditors may perform such tasks.
Such activities – dedicated in terms of civil and criminal liability – entail complex competences in law, economics, market dynamics, auditing and management of business and financial models. The expertise required can hardly be offered by a single professional, and may need adequate organisational structure to provide top-quality fast-responsive professional answers.
STE was established with such mission, i.e. providing experts/certifiers with adequate assistance in terms of professional and organisational expertise thus granting the necessary thoroughness of knowledge and integration of human resources aimed at optimising the quality and the time required to execute such tasks.