James (Jim) Davis Aug 22, 2017:

Once upon a time I used to do things ranging from modern and contemporary art to sociology and civil engineering, but for years now I have specialised in banking. It is not unusual to find texts copied verbatim from Consob and Borsa Italiana documents. So the intelligent thing to do is to find the official translation and copy and paste it, but then first you notice that the translation is a bit over literal, then you notice that the two use different translations for the same key terms (the official authority doesn't co-ordinate with the operator) and then finally you notice that the translator has skipped whole lines of text (no proofing, not even self-proofed and not good TM software) and you think sh*t I'd better translate this again myself. official doc or not. As I say, EU docs and ECB and EBA are much much better, you can learn from them.

Alberto Bertelli Aug 22, 2017:

Thank you Jim for your thorough explanation. As regards to the English translations of the BdI, Consob and Borsa d'Italia and, may I add, of many other Italian bodies, I agree. Unfortunately this is also true for too many IT>EN translations in general. Indeed, I should have been more careful and should have done a bit more research on this issue. I was doing too many things at once.

James (Jim) Davis Aug 22, 2017:

Hi Alberto While the Italian version gives a good explanation, unfortunately the terminology of the English version is not very good. EBC and EBA documents in English are very good, but unfortunately I find that BdI, Consob and Borsa d'Italian English docs cannot be relied on. To call concordato preventivo "in-court restructuring proceedings" is a poor translation. It is widely used but not by native English speaking authors. The key word used in English is voluntary as opposed to action take by creditors and also the concept of administration is used. The Italian authors in your link make no use of the term "going concern" for the Italian "continuità". This link here shows the terminology and procedures available under UK law. US law is to file for bankruptcy under different chapters of the bankruptcy law https://www.gov.uk/government/publications/options-when-a-co...
You are right that I did not say that the in bianco allows a debtor to obtain protection against enforcement or "compulsory liquidation" court orders applied for by creditors and to postpone presentation of detail distribution plans at the same time.