The Supreme Court on 7 February 2017 stated that public companies, whose capital is owned totally or partially by any public administration, are subject to bankruptcy.

The Supreme Court stated that, only in case of a specific law provision that provides an exception to the rules of Section 2247 of the Civil Code, an organization that implements a public purpose incompatible with the cause lucrative could exist.

The Supreme Court rejected the claim, explaining and confirming the possibility for limited liability company owned by the Municipality to go bankrupted, as remains clear the distinction between the public-discipline, which regulates the participation of the public entity, and the private-discipline, that continues to regulate the company, which maintains, in fact, its private nature.