Restructuring

The rules governing business crises and insolvency were recently updated, replacing the previous bankruptcy law in force until July 15, 2022, with a single body of law – the Business Crisis and Insolvency Code – which, inspired by EU directives, aims to prioritize the survival and continuity of businesses experiencing temporary but reversible economic, financial, or equity imbalance, in the interest of the overall economic system and its stakeholders.

 

Supported Restructuring Operations

The Code provides various solutions, ranging from out-of-court, quick, and flexible procedures aimed at restructuring and restoring the company, to traditional judicial proceedings designed to prioritize business continuity (whether direct or indirect), and therefore – first and foremost – recovery. Judicial liquidation procedures under court supervision are only undertaken as a last resort.

Our firm has decades of experience in insolvency proceedings and in assisting companies in business continuity or crisis situations.

Corporate Restructuring Plan

Thanks to the wide range and flexibility of crisis-resolution tools available under the system, our commitment has always been to design tailor-made restructuring plans for each case based on the company’s specific challenges, size, sector, and business model, including through extraordinary corporate transactions (business leases or transfers, mergers, and demergers).

Debt Restructuring

The team specializing in debt restructuring and insolvency procedures is composed of accountants and lawyers who, within their respective areas of expertise, guide entrepreneurs toward the best option among the different crisis (or pre-crisis) resolution mechanisms, whether restructuring or recovery, continuity-based or liquidation-oriented.

All our specialists, registered in the National Register of Crisis Managers, adopt an interdisciplinary approach and often work alongside professionals and teams from other service lines (e.g., Labor Law, Corporate, M&A, Litigation & Arbitration), assisting clients as financial and legal advisors throughout all phases, including:

  • Preparation of certified recovery plans
  • Drafting of restructuring plans and agreements with creditors under debt restructuring procedures
  • Development of plans and proposals for composition with creditors

This interdisciplinary approach creates a fast, efficient team capable of delivering effective solutions to the client.

In addition, they have the qualifications and expertise to serve as Experts in the Negotiated Settlement of the Crisis – an innovative mechanism recently introduced by the Code – as well as official receivers, insolvency receivers, and judicial factors, and as consultants or experts in damage compensation claims and bankruptcy offenses.

Lastly, they also act as liquidators or assist liquidators in voluntary company wind-up proceedings.

Legal Assistance for Business Crisis Management

Our professionals also provide consulting in extraordinary transactions involving the acquisition of assets and companies from insolvency proceedings, as well as assistance in the purchase and sale of non-performing loans (NPL) or unlikely-to-pay exposures (UTP). They can also provide employment law support during corporate restructuring processes through staff reductions (downsizing), managing the use of social safety nets and the INPS Guarantee Fund.

In the legal field, the team assists official receivers and insolvency receivers in:

  • Civil actions for damages
  • Revocatory actions, debt recovery
  • Liability actions and assistance to creditors
  • Consulting and support for managing and maximizing the recovery of claims against insolvency proceedings

Finally, being part of Andersen Global allows us to assist clients with cross-border interests, relying on a network of member firms and professionals specializing in European insolvency law, with whom the team holds regular information and update meetings.