Insolvency of the silent partner: the annual term shall not apply.
With the Court order n. 22270 dated September 25th 2017, the Supreme Court of Cassation addressed the matter of the extension of the insolvency procedure of a limited partnership to the silent unlimited partner. The Judges confirmed that the annual term sets forth in the article 147, paragraph 2 of Regal Decree n. 267/1942 (the Italian “Bankruptcy Law”) shall not find application in such a case.