The board of Italian real estate developer Risanamento SpA (RN.MI) on Monday said that it will reconvene in the following days to decide on a restructuring plan that could save it from bankruptcy.

In a one-line statement, the Milan real estate developer said that it gave a mandate to its chairman to approve and take emergency measures, without further elaborating.

Risanamento is facing bankruptcy if it doesn't present a plan to a bankruptcy court in Milan by Tuesday.

The Risanamento board was scheduled to release first-half results Monday but the company may postpone.

-By Sabrina Cohen, Dow Jones Newswires; 39-02-5821-9906; sabrina.cohen@dowjones.com
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