Business restructuring & insolvency
BUSINESS RESTRUCTURING & INSOLVENCY
The Firm brings extensive experience and deep specialisation in corporate restructuring transactions and distressed situation management; supporting businesses, entrepreneurs and stakeholders in the definition and implementation of sustainable turnaround solutions.
- Analysis of the causes of financial distress and assessment of the economic and financial position, with identification of intervention levers and possible recovery strategies (PRELIMINARY CRISIS ASSESSMENT);
- Preparation of business and financial plans and support in defining economic, capital and financial rebalancing measures;
- Management of relationships with the banking system and other creditors, including negotiation of standstill agreements, moratoriums and out-of-court arrangements;
- Assistance in the structuring and implementation of debt restructuring transactions, including through the use of instruments available under applicable law (negotiated composition of the crisis – composizione negoziata della crisi; certified restructuring plans pursuant to Art. 56 CCII; debt restructuring agreements pursuant to Art. 57 CCII);
- Advisory and assistance in the preparation of applications for concordato preventivo (arrangement with creditors), including going-concern arrangements (direct or indirect), with drafting of the relevant plans and management of dialogue with the procedural bodies;
- Support in the disposal and liquidation of assets and business complexes, both in in bonis contexts and within the framework of insolvency proceedings;
- Assistance in accessing and managing Extraordinary Administration (Amministrazione Straordinaria) proceedings, as well as advisory to the bodies involved;
- Management of company and business liquidation processes, including through appointment as liquidator;
- Support in dealings with the Judicial Authority and performance of court-appointed roles (bankruptcy trustee – curatore fallimentare; expert witness – consulente tecnico; attestation expert – attestatore).
Distressed situations often display recurring dynamics, even as they manifest differently each time. For this reason, we support our clients in the development of tailored crisis management plans, encompassing operational measures, stakeholder communication strategies, decision-making process organisation and resilience analysis – with the aim not only of navigating the critical phase, but also of identifying turnaround and relaunching opportunities, both in out-of-court contexts and across the various stages of insolvency proceedings.
ATTESTATIONS & INDEPENDENT MANDATES
The Firm also performs specialist assignments in the field of business restructuring and insolvency, including:
- Appointments as independent attestation expert pursuant to Arts. 56, 57 and 87 CCII, as well as in connection with attestations required for tax settlements in the negotiated composition of business crisis (composizione negoziata) pursuant to Art. 25-bis CCII and in other cases provided for under the Insolvency Code;
- Preparation of expert reports and opinions on liquidation value (the so-called liquidation alternative) pursuant to applicable law, including in the context of concordato preventivo proceedings and other crisis regulation instruments;
- Performance of Independent Business Reviews (IBRs) on behalf of financial intermediaries, aimed at assessing the sustainability of restructuring plans and the economic and financial position of the business;
- Assistance to investors and industrial operators in the acquisition of businesses, business units or individual assets in distressed contexts (buy-side advisory);