{"id":29504,"date":"2026-05-27T19:14:14","date_gmt":"2026-05-27T17:14:14","guid":{"rendered":"https:\/\/pavesioassociati.it\/?p=29504"},"modified":"2026-05-27T19:15:07","modified_gmt":"2026-05-27T17:15:07","slug":"the-modernization-of-security-rights-over-corporate-assets-in-italy-european-review-of-private-law","status":"publish","type":"post","link":"https:\/\/pavesioassociati.it\/en\/news\/the-modernization-of-security-rights-over-corporate-assets-in-italy-european-review-of-private-law\/","title":{"rendered":"The Modernization of Security Rights over Corporate Assets in Italy | European Review of Private Law"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Culminating a legislative process that began in 2016, the Italian registry for n<strong>on-possessory pledges over corporate assets<\/strong> came into effect on <strong>15 June 2023<\/strong>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From this date, it became operative under Italian law a <strong>new type of pledge, <\/strong>which differs significantly from the traditional pledge envisaged by the Italian Civil Code. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Against this backdrop, this contribution aims to assess the newly introduced pledge by comparatively examining the Italian, English and Dutch legal frameworks, primarily through the lens of a law-and-economics approach. To ensure a more balanced analysis, the protection of the interests of unsecured creditors and security providers is also considered. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The inquiry is structured in two parts, each addressing a core feature of the new Italian regime: <br>(1) the non-possessory nature of the pledge and its associated public registration mechanism; <br>and (2) the scope of the non-possessory pledge, namely the types of eligible collateral, its floating nature, and the range of obligations it may secure. <br><br>The paper argues that such a reform brings the Italian system <strong>closer to the English and Dutch models<\/strong>, although relevant differences remain among the three jurisdictions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Furthermore, it is contended that the expanded scope of the new non-possessory pledge necessitates the introduction of <strong>additional safeguards<\/strong> to more effectively protect the position of unsecured creditors and security providers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Without prejudice to the foregoing, the overall assessment of the Italian reform is <strong>positive<\/strong>, since it modernizes the Italian system of security rights and contributes to its greater efficiency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Download the <a href=\"http:\/\/pavesioassociati.it\/wp-content\/uploads\/2026\/05\/TR-3587118-v1-Sito-e-LinkedIn-_-Pubblicazioni-_-2026-_-Alberto-Buffa-_-The-Modernization-of-Security-Rights-over-Corporate-Assets-in-Italy.pdf\">abstract of the article<\/a> written by <a href=\"https:\/\/pavesioassociati.it\/team\/alberto-buffa\/\" data-type=\"page\" data-id=\"1573\">Alberto Buffa <\/a>for <a href=\"https:\/\/kluwerlawonline.com\/Journals\/European+Review+of+Private+Law\/589\">European Review of Private Law<\/a> 34, 2026 <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Culminating a legislative process that began in 2016, the Italian registry for non-possessory pledges over corporate assets came into effect on 15 June 2023. From this date, it became operative under Italian law a new type of pledge, which differs significantly from the traditional pledge envisaged by the Italian Civil Code. Against this backdrop, this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":29536,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","footnotes":""},"categories":[370],"tags":[],"ppma_author":[464],"class_list":["post-29504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pubblicazioni-en"],"acf":[],"authors":[{"term_id":464,"user_id":0,"is_guest":1,"slug":"alberto-buffa","display_name":"Alberto Buffa","avatar_url":"https:\/\/pavesioassociati.it\/wp-content\/uploads\/2022\/02\/100x100px.jpg","user_url":"","last_name":"Buffa","first_name":"Alberto","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/posts\/29504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/comments?post=29504"}],"version-history":[{"count":4,"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/posts\/29504\/revisions"}],"predecessor-version":[{"id":29539,"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/posts\/29504\/revisions\/29539"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/media\/29536"}],"wp:attachment":[{"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/media?parent=29504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/categories?post=29504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/tags?post=29504"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/pavesioassociati.it\/en\/wp-json\/wp\/v2\/ppma_author?post=29504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}