Covid-19: extensions and postponements due to Business Recovery

Covid-19: extensions and postponements due to Business Recovery

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Decree-Law no. 9/2020 of 2 March 2020 introduced, among other measures, the extension of the reporting obligations for control bodies and statutory auditors, as well as for qualified public creditors provided for in the Code of Crisis and Insolvency (Agenzia Entrate, INPS, Agente della Riscossione).
The report slips from the original 15 August 2020 to 15 February 2021.

This extension of 6 months would seem to concern only the so-called external alert, i.e. the one involving the Crisis Settlement Body (OCRI), while leaving unchanged the original deadline for the so-called internal alert, i.e. the one involving the control bodies and auditors, which, noting the existence of well-founded evidence of crisis, must take action against the administrative body to induce it to adopt the appropriate instruments to ensure business continuity.
The provision of Article 11 of Legislative Decree 9/2020 would therefore seem to aim at a gradual start of the system of reporting to the OCRI, exempting from this obligation, for six months, all SMEs that, even in the face of economic damage resulting from the health emergency, may have difficulty in implementing the rule.