The term “over-indebtedness” defines the persistent situation of imbalance between the liquid assets and the amount of the obligations assumed and therefore, the consequent inability of the debtor to fulfill his obligations.
Law 3/2012 and the D.M. 202/2014 allow the debtor to conclude an agreement with creditors as part of the crisis settlement procedure, in order to remedy situations of over-indebtedness that are not subject to or subject to current insolvency procedures.
This is a discipline that provides for 3 ways of solving the crisis of the non-fallible debtor:
The Agreement with the debtors;
The procedure for the Liquidation of assets.
By means of these procedures, a mechanism for extinction (controlled in court) of the obligations of the over-indebted subject is envisaged, which is not fallible, to be implemented through the collaboration of the Over-indebted Crisis Settlement Bodies (OCC), structures expressly provided for and regulated by Law n. 3/2012 and the related implementing regulation.