Proceedings / Effects of Registration

Can judicial decisions opening insolvency proceedings be registered in the Land registry in accordance with your legislation?

If affirmative, what effects do these registrations produce?

According to art. 11 lett. c)  of  R.D. 499/1929 (and art. 88, 166 l. fall = Bankruptcy Act), any insolvency administrator must register in Land Register, as fast as possible, any judicial decision opening an insolvency procedure (i.e. judgment declaring bankruptcy).

This registration warns third parties about restrictions to the owner’s right to dispose of property. It is therefore put in “B sheet”. It hasn’t a constitutive effect.

It must be requested by any insolvency administrator, which is responsible for non-contractual liability in the event of delayed or omitted registration.

Unfortunately there’s no interconnection between Land Register and other registers or portals.

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