RN Risanamento

MILAN (MF-Dow Jones)--Risanamento SpA (RN.MI) Tuesday presented its new industrial plan to a Milan judge that will decide after a Sept. 22 hearing if the Italian real estate developer should be declared bankrupt, a person with knowledge of the situation said Tuesday.

Last week, a Milan judge ordered Risanamento to submit a rescue plan by Sept. 9.

In July, a state prosecutor in Milan requested that Risanamento be declared bankrupt after its debt surpassed EUR2.8 billion. At the same time, founder Luigi Zunino resigned from his post as board member of Risanamento, in a move that was seen as a first step toward restructuring.

-By Paola Longo with MF-Dow Jones, Dow Jones Newswires, +39 02 5821 9906; sabrina.cohen@dowjones.com