Sostenibilidad medioambiental y sistemas concursales en la reforma de la Ley italiana de crisis empresarial

Modern insolvency law, influenced by the ongoing European harmonization process, poses a challenge for legislators to balance intricate and opposing interests. Constitutional constraints on private economic initiatives, designed to safeguard natural ecosystems, prompt fresh reflections on the intersection of insolvency law and environmental sustainability. This paper examines this nexus within bankruptcy liquidation procedures and, notably, within reorganization procedures for distressed companies currently undergoing substantial reform. The aim is to assess whether the Italian bankruptcy legislator has effectively addressed this issue in line with constitutional and European principles as interpreted by respective courts, or if there has been a missed opportunity to regulate the phenomenon of (un)sustainable enterprises in crisis.