Italy- creditors rights after the closure of insolvency proceedings according to Italian Law

After the closure of insolvency proceedings creditors can take action  against the debtor to recover the residual debt, for instance the portion of the  debt that was not repaid by the administrator, unless a discharge  procedure has taken place, in which case the creditors cannot claim  anything from the insolvent.

But once an arrangement with creditors is closed, creditors cannot claim  anything from the debtor.

Important: if the debtor fails to meet the required obligations  the creditors can apply for the termination of the  arrangement. The application must be made within one year.

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