27 August 2025

The liquidation program: a strategic role in insolvency proceedings

In the context of judicial liquidation, the liquidation program does not represent a mere formal step, but constitutes the cornerstone of the entire insolvency proceeding. It is the document that defines the direction of the process, establishing the criteria, methods, and strategies that will guide every subsequent decision. Its function is not limited to describing the method of liquidation: it is an act of strategic planning that directly impacts the effectiveness and transparency of the procedure. For this reason, it must be designed from the outset with clarity, coherence, and completeness, in order to ensure the greatest possible consistency in the development of operations and to minimize margins of uncertainty or conflict.

When a well-structured program makes the difference:
Key points to consider ex ante.

In order for the process to unfold clearly, consistently, and in full compliance with the authorisation framework, the professional tasked with drafting the program must focus on several crucial elements, starting with the definition of the methods of asset disposal and the liquidation criteria: specifically, the collection of receivables, the estimated costs, and the expected timeframes for realization. Another fundamental element is the strategic choices concerning the sale. In essence, these involve options such as the unitary sale of the company, the atomistic disposal of individual assets, or potential contributions to companies. Another key point to bear in mind is the use of competitive procedures and the possible involvement of specialized operators.

It is essential to establish the criteria that ensure maximum transparency and visibility of the operations, thereby safeguarding the best possible value for the assets. Special attention should also be given to exceptions and particular aspects. In this case, all special modalities—such as automatic price reductions or installment payment arrangements—must be specified precisely in order to avoid interpretative conflicts.

A well-designed plan not only reduces the risk of litigation but also speeds up the procedure and allows the assets subject to liquidation to be fully optimized.

Achieving this requires vision, foresight, method, and the ability to anticipate potential critical issues.

The value of a specialized partner such as Gobid Group

n such a delicate context, relying on qualified partners is essential. Vision is required to define a clear strategy, one that is capable of combining the objective of maximizing asset value with the needs of the procedure.

Expertise is required to master complex regulatory and operational tools, ensuring transparency and speed. It is essential to have reliable partners, capable of working alongside the professional and providing strategic support during the crucial phases of defining the sale.

It is from this perspective that Gobid Group positions itself as a trusted partner: a specialized network offering multidisciplinary know-how, extensive experience in managing online auctions through innovative proprietary platforms, and an approach focused on delivering concrete results, in support of the procedures and their stakeholders.

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