Italy - Attachment of Assets
Avv. Alessio Ruvolo, J.D. State University of Milan, LL.M. London Guildhall University, STUDIO SANTA MARIA in association with Greenberg-Traurig LLP, New York
Avv.. Davide Pozzoli, J.D. State University of Milan, STUDIO SANTA MARIA in association with Greenberg-Traurig LLP, New York
Avv. Dante Campiverdi, J.D. University of Bologna, SANTA MARIA STUDIO LEGALE ASSOCIATO, in association with Greenberg-Traurig LLP, New York
Originally from Attachment of Assets
1. What is the general nature and effect of judicial measures available for plaintiffs to obtain provisional relief affecting property of debtors to obtain security for judgments to be obtained (“attachments”)? Freezing property in place? Placing it in the custody of a third party, such as a court official, sheriff or marshal?
Amongst provisional remedies1 governed by Italian civil procedure law, attachments are the most typical and frequently used. Similarly to the other preventive proceedings, they serve to issue a further judicial order or decision for which the plaintiff is seeking an anticipated effect. The importance of this kind of preventive remedies lies in that the enforcement of a money judgment becomes often meaningless if the debtor’s assets are not promptly attached and levied upon.2 As a consequence of their character as means to obtain an anticipated effect, attachments may be represented, inter alia, as a security of a judgment or award.
Two kinds of attachment exist under Italian law: judicial seizure (sequestro giudiziario) and preventive attachment (sequestro conservativo).3