Search 
 
Search

Expertise

Restructuring & Turnaround

In particular moments or phases of a company’s life, characterised by insufficient earnings or financial difficulties, or by the need to reassess and contrast decline and pre-crisis situations, the entrepreneur and the management need to rethink their business strategy and organisation.

In more serious situations, a crisis forces companies to adopt policies in order to preserve the continuity of the business, to protect the creditors’ interests and to prevent, avoid or limit any liabilities of the entrepreneur, the company boards and the management.

In restructuring and pre-crisis situations, Cortellazzo & Soatto, through its own teams of professionals with their business, economic-financial and legal expertise assists the shareholders and the management in understanding the causes of the crisis and in drawing up strategic, industrial and economic-financial plans aimed at recovery. In crisis or insolvency situations, Cortellazzo & Soatto supports the company boards in Italian bankruptcy law procedures.

As advisor to the Court or the procedural body, Cortellazzo & Soatto or its professionals take up appointments as temporary receiver, liquidator, special commissioner, certifier, technical advisor to the court and trustee in bankruptcy.
In this area of expertise, the specialist activities mainly involve:
  • the understanding and analysis of the causes of a company crisis;
  • the evaluation of the company and of tangible and intangible assets in recovery and reconversion processes;
  • support the management in drawing up strategic recovery plans, industrial plans and the business plans;
  • support in drawing up recovery and turnaround plans according to article 67 of Italian Bankruptcy Law and their negotiation and contractual implementation;
  • assistance, including legal services, for finalizing out of court agreements with the creditors, including debt restructuring agreements according to article 182 bis of Italian Bankruptcy Law;
  • taking up appointments as certifier of recovery plans according to article 67, of the debt restructuring agreements according to article 182, and of arrangements with creditors and of bankruptcy agreement procedures according to articles 161, 160 and 124 of Italian Bankruptcy Law;
  • assistance, including legal services, in the various phases of arrangements with creditors and of bankruptcy agreement procedures, as well as in extraordinary administration procedure for large insolvent companies.
In this area of expertise, Cortellazzo & Soatto acquired a proven experience, especially in the sectors of paper-making, of electrics, of mechanics, of food industry, of furnitures and wood-working, of hotel industry, of real estate and construction.