The Council of Ministers today approved a law decree aimed at protecting the creditor companies of the related industries former Ilva. The decree, according to what we learn, is made up of five articles: ranging from measures to facilitate access to Guarantee fund for SMEs to the provisions to contain interest rates on loans. Article 3 establishes the absolute pre-deductibility of the credits of the related companies or of the financial institutions that purchased them, referring to services rendered without interruption until the date on which the extraordinary administration is ordered. Other measures for redundancy payments are also planned.
Six weeks of wage supplement for workers
The draft also states that company employees who suspend or reduce their work due to the crisis of the former Ilva have the right to the treatment of wage integration, with related salary contribution, for a period not exceeding six weeks.
What does the draft law decree provide?
Small and medium-sized enterprises that encounter "difficulty in accessing credit due to the worsening of the debt position of client companies that manage at least one industrial plant of national strategic interest" and that are "admitted to the extraordinary administration procedure" are granted the access to the guarantee fund. This is provided for in the draft legislative decree containing 'Urgent provisions to protect the related industries of large companies in a state of insolvency admitted to the extraordinary administration procedure', designed to help the related industries of the former Ilva.
The fund has approximately 5,4 billion euros - specifies the technical report - allocated in the 2024 budget of the Ministry of Business and Made in Italy. The scope of the measure includes companies that have achieved success in the last two years with the company in difficulty 70% of their total turnover. The operation of the fund provides for a guarantee of 80% of the amount of the financial operation, in the case of direct guarantee", a share which rises "to 90% in the case of reinsurance"
The credits claimed by companies, or by transferees, are pre-deductible, specifies the text, if prior to admission to the extraordinary administration procedure where they refer to "provision of goods and services, including road transport and movement of equipment, goods, products and personnel , instrumental in enabling the production functionality of the plants".
Employed workers, employed by private sector employers who suspend or reduce their work activity as a result of the suspension or reduction of the client's work activity, are recognized for 2024 by the INPS "an income supplement, with related notional contribution for a period not exceeding six weeks".
Credits transferable to Mcc
The creditor rescue operation also involves the involvement of Sace e Mediocredito Centrale. The latter will acquire the certified credits at market conditions. Sace – reports the Sun 24 Hours – will offer financial guarantee at market conditions, up to 70% of a maximum amount of credits amounting to 150 million, in favor of the transferee or transferees if others are added.
