Corporate Restructuring and Bankruptcy

The Firm has been traditionally engaged in offering wide-range assistance in the field of financial distress companies, both with respect to the preparation and development of the company’s decision processes and with regard to the arrangement of the negotiated solution to the financial distress. Furthermore, the Firm provides legal advice to Italian and foreign players interested in the acquisition or in the financing of distressed enterprises in the context of out-of-court or negotiated procedures. The services provided include (i) the choice and development of the most appropriate “negotiated solution” to the financial distress and of the corporate transactions connected thereto which often require a legal assistance involving different legal areas (bankruptcy, corporate, contract, financial, administrative) that the Firm may assure by virtue of internal professional resources; (ii) the court procedures of admission and judge approval of debt restructuring plans, compositions with creditors (concordati preventivi) and pre-bankruptcy procedures. The experience gained in this field allows to provide adequate assistance to banks and financial institutions which have claims vis-à-vis distressed companies involved in difficult re-negotiations of the relationships with clients, also in connection with the granting of secured loans (finanziamenti prededucibili) or in the examination of complicated compositions with creditors (concordati). One of the Firm’s particular strength is negotiating out-of-court settlements between creditors and companies in financial difficulties. In court proceedings, the Firm’s experience further includes bankruptcy litigation, also deriving from procedure of extraordinary receivership of insolvent large companies (admission to the debtor’s statement of liabilities, revocation actions and other creditor’s actions, actions against directors and auditors and often against entities which financed the bankrupt company). The Firm’s lawyers are well-qualified to represent both onshore and offshore creditors and governmental authorities either in bankruptcy and liquidation proceedings in Italy or in cross-border insolvencies. Finally, a significant area of activity of the Firm regards the bankruptcy (or extraordinary receivership) composition with creditors (concordati fallimentari), used as means of negotiated solution of the insolvency and of advanced end of the bankruptcy procedure, which often aimed at increasing the value of the assets included in the bankruptcy (especially, litigation rights and uncertain claims).