By order no. 2331/2026 of 8 April 2026, the Court of Viterbo, sitting as a panel, granted the challenge to the schedule of liabilities brought by a securitisation special purpose vehicle, assisted by Cassinelli Studio Legale, fully reversing the order of the Delegated Judge and admitting the claim to the schedule of liabilities with reserve, on an unsecured basis, for the full amount sought, exceeding EUR 1.4 million.
The matter arose from the opening of the judicial liquidation of a debtor company and from the proof of debt filed by the creditor. The Delegated Judge had admitted the claim only in the lesser amount established by a first-instance judgment – issued before the opening of the insolvency proceedings – which had declared the nullity of certain contractual clauses, with consequent recalculation of the balance of the current account relationship. That judgment, however, was the subject of a pending appeal.
Central to the decision is the broad interpretation of Article 204, paragraph 2, letter c), of the Italian Code of Business Crisis and Insolvency (c.c.i.i.), the provision which permits the admission with reserve of claims established by a judgment that has not become final. The Panel adhered to the settled case law of the Italian Supreme Court – referring, among others, to Cass. civ. no. 10616/2025, Cass. civ. no. 11362/2018 and Cass. civ. no. 11741/2021 – according to which the provision must be interpreted so as also to encompass claims subject to a negative finding by a non-final judgment, in order to avoid the preclusive effects of res judicata and to protect the position of the creditor pursuing the appeal.
The Court emphasised the dual rationale underlying the institution: on the one hand, the need to safeguard the creditor’s rights by prudentially setting aside the entire amount claimed, still sub iudice; on the other hand, the need to ensure the reasonable duration of the proceedings, avoiding the subsequent filing of supplementary claims should the appeal succeed. Such requirements, the Panel observed, apply a fortiori where the trial court has not merely ascertained the existence of the claim, but has declared, in whole or in part, its non-existence.
The applicant party was assisted by Nicola Cassinelli together with Emanuele Dodero.