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, offers important clarifications regarding the notice to creditors provided for by Article 207 of the bankruptcy law. This measure, of great significance in the context of extraordinary administration procedures, deserves 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 recognition of the credits. In fact, the notice serves an informational function, allowing creditors to be aware of the pendency of the procedure and to exercise their rights. This aspect is fundamental to ensuring the transparency and fairness of the bankruptcy procedure.

Notice from the commissioner pursuant to art. 207 bankruptcy law - Scope - Communication to creditors and third parties of accounting results - Preclusive effect on the formation of the passive state - Exclusion. Regarding the ascertainment of liabilities in extraordinary administration, the notice to creditors for verification, provided for by art. 207 bankruptcy law, constitutes a mandatory act on the part of the commissioner, intended as a mere provocation to action towards those who are creditors based on the debtor's accounting records, so that they are informed of the pendency of the procedure and can assert their rights in competition; therefore, with such notice, the commissioner does not express any prior judgment on the possible future admission to the passive state, nor does he perform a recognition of the credit.

Implications for Creditors

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

This ruling, therefore, not only reiterates the informative nature of the notice but also emphasizes the importance of protecting creditors' rights in a context of corporate crisis. The bankruptcy law, in this case, acts as a guarantee of fairness and transparency, allowing all involved parties to have access to 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 credits, constitutes a fundamental communication tool that allows for the active participation of all subjects involved. It is therefore essential for creditors to always be informed and ready to assert their rights, so as not to miss opportunities in the complex system of insolvency proceedings.