Accounting for Debt Restructuring in the Current Crisis: Italian Experience by Italian Legal Conditions

Roberta Provasi and Patrizia Riva

Economic Research-Ekonomska Istraživanja, 2013, vol. 26, issue S1, 244-258

Abstract: Since 2007 a financial crisis has hit economies generating inevitable consequences on Italian Companies solvency level. This paper identifies some intermediate solutions purely contractual arrangements for debt rescheduling between debtor and creditors introduced by the Bankruptcy Reform, which considers: recovery and resolution planning ,restructuring agreement, pre-insolvency agreements with creditors. To solve the crisis it is required the adoption of appropriate procedures aiming at the fair presentation in the financial statements. For this reasons Italian Accounting Entity, (OIC) on July 2011 issued a new document OIC 6, “Accounting Principles” which aimed to prescribe the accounting treatment and disclosures, produced by the debt restructuring. Finally, this paper highlights how the OIC n. 6 philosophy has emphasizes the public interest in preserving the firm as an economic value to the community .

Date: 2013
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/1331677X.2013.11517650 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:reroxx:v:26:y:2013:i:s1:p:244-258

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rero20

DOI: 10.1080/1331677X.2013.11517650

Access Statistics for this article

Economic Research-Ekonomska Istraživanja is currently edited by Marinko Skare

More articles in Economic Research-Ekonomska Istraživanja from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().