The new Italian Anti-Mafia Code (3 out of 3)

“Corrotti” like Mafiosi

 

By Francesco Clementucci 
Published on Tuesday April 10, 2018

 

Third parties in good faith enjoy better protection: The rights of third parties resulting from acts in good faith prior to the seizure are guaranteed. The court administrator can be authorized to pay immediately « strategic creditors » for the benefit of business continuity. The protection of third-party creditors is further regulated in terms of applications for credit, timing of verification and auditing hearing as well as for the possible sale of confiscated assets in order to satisfy eligible creditors. In the list of creditors for the audit hearing, those who have a right of enjoyment or special guarantee must also be included. Anyone who has an option right on the confiscated property can intervene in the asset safeguarding procedure.

Reporting collusive banks: The conditions that allow the mortgage bank for the confiscated goods to get part of what is owed it are tightened. If the bank that has a credit claim is not recognized in good faith, the decree rejecting the application for admission to the credit must be notified to the Italian Central Bank.

Restyling and Strengthening the Agency for Confiscated Goods: This existing Agency has been reorganized. It remains under the umbrella of the Ministry of the Interior but the tasks are redefined, with particular reference to the exchange of information flows. The director will chair the Advisory Counseling Committee, a new internal body that will deliver opinions and make proposals.

After the confirmation of the seizure on appeal, the Agency has jurisdiction both on preventive and criminal prosecutions. In this regard, in redefining its tasks, the collection of evidence is strengthened and its role in confiscation is enhanced with the aim of allowing a temporary assignment of assets and companies; also enhanced is its role of assisting the judicial authority in the management of the assets until the final seizure. The Agency can allocate properties and companies directly to local authorities and associations.

In the seizure of companies of particular socio-economic interest, the Minister can appoint experts indicated by Invitalia ltd (a State owned company). In that case, the assignment will not paid.

(3 of 3)

 

 

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