Source: https://www.global-regulation.com/translation/italy/621113/hours-of-extraordinary-administration-procedure-and-appoint-the-board-commissioner-of-m.-m.-summer-business-mercatoneuno-services-s.p.a.%252c-s.p.a.%252c-.html
Timestamp: 2018-03-22 08:04:47
Document Index: 191420435

Matched Legal Cases: ['art. 39', 'art. 1', 'art. 80', 'art. 1', 'art. 1', 'Art. 1', 'art. 2']

Machine Translation of "Hours Of Extraordinary Administration Procedure And Appoint The Board Commissioner Of M. M. Summer Business Mercatoneuno..." (Italy)
Hours Of Extraordinary Administration Procedure And Appoint The Board Commissioner Of M. M. Summer Business Mercatoneuno Services S.p.a., S.p.a., S.r. L, Mercatone Uno Finance S.r.l., Mercatone Uno Logistics S.r.l. And M. A Trading ...
Original Language Title: Apertura della procedura di amministrazione straordinaria e nominadel collegio commissariale delle societa' M. Estate S.p.A., MercatoneUno Services S.p.A., M. Business S.r.l, Mercatone Uno Finance S.r.l.,Mercatone Uno Logistics S.r.l. e M. Uno Trading ...
Read the untranslated law here: http://www.gazzettaufficiale.it/atto/serie_generale/caricaArticoloDefault/originario?atto.dataPubblicazioneGazzetta=2015-04-21&atto.codiceRedazionale=15A02936&elenco30giorni=false&atto.tipoProvvedimento=DECRETO
The MINISTER of ECONOMIC DEVELOPMENT Saw the December 23, 2003, Decree No. 347 concerning "urgent measures for the industrial restructuring of large enterprises in a State of insolvency", converted with amendments by law February 18, 2004, n. 39 and subsequent amendments and additions (Decree-Law No 347/03); Having regard in particular to articles 1 and 2 of that decree-law; Having regard to Legislative Decree No 270 July 8, 1999; Having regard to the Decree of the Minister of economic development on April 10, 2013-«regulation on determining the requirement of professionalism and repute of the judicial administrators and overtime procedures for extraordinary administration of large firms in crisis, according to art. 39, paragraph 1, of Legislative Decree No 270 July 8, 1999 '; Having regard to the request filed on April 2, 2015, signed by j. Diego Rufini, which calls for the admission to extraordinary administration procedure, pursuant to and for the purposes of the aforementioned Decree, in the interest of the following companies: m. 02620721205, in virtue of Summer S.p.A. CF special power of Attorney issued by Pierluigi Bernasconi, legal representative pro tempore as the Chief Executive Officer; Mercatone Uno Services S.p.A., CF 02620671202, by virtue of special power of Attorney issued by Pierluigi Bernasconi, legal representative pro tempore as the Chief Executive Officer; M. Business S.r.l., CF 09561521007, by virtue of special power of Attorney issued by Pierluigi Bernasconi, legal representative pro tempore as the Chief Executive Officer; Mercatone Uno Finance S.r.l., CF 01924571209, by virtue of special power of Attorney issued by Micaela Cenni, legal representative pro tempore as the Chairman of the Board of Directors; Mercatone Uno Logistics S.r.l., CF 00504880030, by virtue of special power of Attorney issued by Luigi Valentini, legal representative pro tempore as the Ceo; M. One Trading S.r.l., CF 03072331204, by virtue of special power of Attorney issued by Antonio Di Feo, legal representative pro tempore as the Chairman of the Board of Directors; Examined the aforementioned instance and its annexes; Visto l'art. 1, of the aforementioned Decree-Law No. 347/03, which States can access the extraordinary administration procedure companies subject to bankruptcy in a State of insolvency that "... have, individually or as a group of companies consisting of at least one year, both of the following requirements: a) employed persons, including those admitted to treatment of integration of earnings, not less than five hundred for at least one year; b) debts, including those arising from guarantees issued, for a total of not less than three hundred million. '; Found that the applicants are, for at least one year, a group of companies in accordance with provisions contained in conjunction with art. 80, paragraph 1, point b) of d.lgs. # 270/99 and art. 1, subparagraph l, d.l. 347/03, M. Estate S.p.A. owns directly to 100% Mercatone Uno Services and Mercatone Uno Finance and indirectly (via Mercatone Uno Services) Mercatone Uno Trading and Mercatone Uno Logistics (at 100%) and M. Business (89.1%); Pointed out, also, that there are dimensional requirements specified in art. 1 of Decree-Law 347/03 for the purpose of admission of such society, since, on the basis of the documentation attached to the instance, and the data in the register of companies at the Chamber of Commerce, the companies applicants have a number of employees and total debt exceeding the statutory minimum thresholds, namely: over 3200 employees for at least one year and more than 780 million in debt , of which about 500 million net of intercompany indebtedness; Having taken note of the statements in the instance with regard to the existence of a situation say insolvency of those companies, as explained and documented on the instance itself and its annexes, with particular reference to the fact that the companies are not able to cope with their bonds soon because of the impossibility of recovering of receivables owed to other companies of the Group; Decided to appoint three Commissioners under the combined provisions of articles. 38, paragraph 2 of the d.lgs. # 8, paragraph 1 of Decree Law 270/99 and # 347/2003 above, taking into account the exceptional importance and complexity of the procedure; Considered also the opportunity to appoint Messrs, Dr. Vincenzo Tassinari, Dr. Ermanno Saidi, avv. Stefano Coen, in view of their specific expertise; Considered that these professionals meet the requirements set out in Ministerial Decree of April 10, 2013 above mentioned;
Decrees: Art. 1 the companies m. Estate S.p.A., Mercatone Uno Services S.p.A., m. Business S.r. l, Mercatone Uno Finance S.r.l., Mercatone Uno Logistics S.r.l. and M. One Trading S.r.l. are admitted to extraordinary administration procedure, according to art. 2, paragraph 2, of Decree-Law No 347/03.