The Code aims to reform the discipline of insolvency procedures, with two main goals: to allow early diagnosis of the state of difficulty of companies and to safeguard the entrepreneurial capacity of those who face a business failure due to particular circumstances. Among the main novelties of the measure, the introduction of an alert system aimed at allowing the rapid emergence of the crisis, with a view to the recovery of the company and in any case the highest satisfaction of creditors, and the appointment of the control body or auditor in limited liability companies, in the event of exceeding for two consecutive years at least one of the following limits: a. total assets in the balance sheet: EUR 2 million; b. Revenue from sales and services: EUR 2 million; c. average number of employees during the financial year: 10.
