On Wednesday, June 14, the Italian Inland Revenues Service (Agenzia delle Entrate) announced the launch of its online service for the filing of non-possessory security interests over movable assets (“floating pledges”).
This represents the much anticipated final step in the implementation of floating pledges in Italy. As described in more detail in our prior alert memoranda dated May 16, 2016, and February 21, 2023, these pledges can be created over all existing and future-acquired moveable assets of a debtor and are expected to have widespread adoption in trade finance and other secured transactions.