The OCRI, that is the entities that will blow up Italian companies from 1 September

Italy specializes in making European regulations more biting and potentially dangerous which, at the origin, could also have positive values. This is what happened for the so-called “Solvency” directive, created to help entrepreneurs in crisis, which was translated into our country with the creation of a new bankruptcy law and the birth of OCRIs (Legislative Decree 14/2019).

OCRI is the acronym for corporate crisis settlement body , an entity that should be established at each Chamber of Commerce and whose purpose is to:

  • receive and report possible corporate crisis situations;
  • activate alert procedures;
  • intervene in the management of corporate crises, guiding them towards resolution, including through negotiations with creditors.

In itself it seems a positive initiative that precedes the activity of the old curatorship or receivership. But the devil is in the details. With the crisis caused by the Covid-19 epidemic we have had a GDP cut of 8.9%, which will not be reabsorbed before 2023, and which has brought entire economic sectors of our country to their knees. So we will have tens, if not hundreds, of thousands of companies in difficulty that will surely fall into the "Alert Procedures" delegated to OCRI. These bodies will therefore replace, in a certain way, the entrepreneur in the assessment and management of the crisis of the company as soon as some signs of management difficulty are detected, such as, for example, excessive delays in the payment of suppliers or taxes. and contributions.

How the system will work in practice remains a mystery because there is nothing comparable and the OCRIs have not even been trained by the Chambers of Commerce yet. With a system that is overall over-indebted due to the crisis, these bodies risk being immediately submerged by a flood of reports and would trigger a tsunami of alert procedures, which are nothing but pre-bankruptcy procedures, with all that which follows from the reputational point of view for companies and entrepreneurs.

It would be much wiser to postpone the entry into force of the new corporate crisis management regime well beyond September 1, taking advantage of the more favorable climate at the Commission and the authority of the Prime Minister, perhaps using this time to establish management processes. of the simplest, privatized crises based on direct mediation between entrepreneurs and creditors. Otherwise we risk seeing both companies and OCRIs explode together.

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The article The OCRI, that is the entities that will blow up Italian companies from 1 September comes from .

This is a machine translation of a post published on Scenari Economici at the URL on Tue, 09 Mar 2021 11:00:30 +0000.