Restructuring and Insolvency Law

Companies and individuals in the European Union are increasingly establishing business activities or economic interests in European Union countries other than where their core activities are located. If they become insolvents, the insolvency proceeding may have cross-border implications. To establish a common framework for insolvency proceedings, the European Union sets up a Regulation on insolvency proceedings. This Regulation establishes common rules on:

• the competent court to open insolvency proceedings;

• the applicable law;

• the recognition of the court’s decisions when a debtor – a company, a trader or an individual – becomes insolvent.

The aim of these rules is to avoid the transfer of assets or judicial proceedings from one European Union country to another.

The Firm provides legal services to Clients both in national insolvency proceeding and in cross-border insolvency proceedings, including:

• insolvency debt restructuring and second chance (i.e. debt restructuring agreement);

• Italian restructuring agreements (inspired by the UK ‘scheme of arrangement’);

• Italian out-of-court restructuring agreements with creditors;

• transactions;

• pre-insolvency agreements;

• insolvency proceedings;

• receivership proceedings;

• compulsory winding up of a company (winding up petitions);

• actions against directors;

• directors’ liabilities and disqualifications;

• white collar crimes.

The Firm serves a diverse client base that includes debtors, lenders, shareholders, trustees, senior executives, as well as distressed debt and asset buyers and investors. We advise our Clients on all matters related to private companies in underperforming and distressed situations. We manage assignments from the national mid-market to the larger cross-border restructuring and insolvencies. Our experience also extends to any contentious issues arising from restructurings and insolvencies.