The Legal 500

Bonelli Erede Pappalardo’s Andrea De Tomas ‘understands clients’ concerns and priorities’. Widely praised as a ‘top-tier practice’, the firm recently advised Permira and Valentino Fashion Group on debt restructuring issues. Emanuela Da Rin and Franco Bonelli are recommended.

In 2010, d’Urso Gatti e Bianchi Studio Legale Associato’s Francesco Gatti assisted Infracom Italia with a €270m debt restructuring. Stefano Valerio is also recommended.

Gianni, Origoni, Grippo & Partners’ Antonio Auricchio played a major role in the restructuring of all the group companies involved in the Parmalat Extraordinary Administration case, and Silvio Tersilla acted on the first-ever Italian case of a listed company having applied for a pre-insolvent composition with creditors.

Lombardi Molinari e Associati is praised for its domestic insolvency strengths and by clients for its ‘prompt responses to all requests’. In restructuring, 3i was assisted in relation to Antichi Pellettieri’s financial debt. Giuseppe Lombardi has ‘great expertise and his advice is always accurate’. Ugo Molinari ‘has incredible business acumen’, and Johannes Karner is ‘well-organised’.

Paul, Hastings, Janofsky & Walker (Europe) LLP’s Milan restructuring and distressed investments team advised Lucchni’s board of directors on its €1.2bn restructuring, and Bertone’s liquidator was assisted with its extraordinary administration. Bruno Cova ‘has an inside understanding of how multinationals work’. Antonio Azzarà is also recommended.

‘Guaranteeing senior level attention’, Pedersoli e Associati acts on major debt restructurings in Italy. The practice advised Intesa Sanpaolo in relation to the €3bn debt restructuring of Carlo Tassara. Maura Magioncalda is recommended and Valeria Mazzoletti is ‘serious and proactive’. Antonio Pedersoli remains a key contact.

Allen & Overy – Studio Legale Associato recently advised the facility agent and syndicate of lenders in the restructuring of the financing the lenders had made available to companies belonging to the group headed by Global Garden Group, marking the first senior-led solution ever implemented in the Italian market.

Chiomenti Studio Legale’s recent highlights include advising in the restructuring of the financial indebtedness of Tiscali Group. Andrea Bernava heads the team.

Cleary Gottlieb Steen & Hamilton LLP provides ‘deep local understanding but tailored to an international financially minded audience’. The practice advised RBS in connection with the restructuring of senior and subordinated acquisition facilities of approximately €100m granted to a holding company. Giuseppe Scassellati-Sforzolini is a key contact and Roberto Bonsignore is ‘an excellent, well rounded professional’. Pietro Fioruzzi and Francisco Cestero are also recommended.

Clifford Chance’s banking partners Charles Adams and Giuseppe De Palma received numerous instructions from financial institutions to restructure financial debt and to act in connection with work-outs of leverage finance and real estate loans, derivatives transactions and other financial instruments. Corporate partner Alberta Figari ‘always solves problems quickly’. Insolvency specialist Fabio Guastadisegni frequently assists trustees in bankruptcy proceedings.

Freshfields Bruckhaus Deringer is ‘timely and reliable’. Highlights included advising Lucchini, as borrower, in relation to the Lucchini Group’s debt restructuring.

Labruna Mazziotti Segni’s group is part of a broader litigation and restructuring group that draws on colleagues with expertise in distressed M&A, capital markets, and real estate. The team assisted Italian industrial group Selma in negotiating a restructuring agreement with its creditors.

Latham & Watkins LLP has represented creditors and borrowers in high-profile workouts and restructuring transactions in Italy. The practice represented the Carraro Group in the restructuring of the group’s debt.

Legance Studio Legale Associato’s interdisciplinary restructuring and insolvency group comprises lawyers from its banking and finance, litigation, corporate finance, tax and labour teams. The practice advised a pool of banks in the renegotiation of financing granted to Grandi Navi Veloci.

Linklaters acted for lenders, Mediobanca and Unicredit, in the restructuring of Valentino’s financial debt. Andrea Arosio is recommended.

NCTM Studio Legale Associato’s ‘great problem solver’ Maurizio Cimetti assists with the acquisition of distressed assets and debt, insolvent or distressed companies, and restructuring procedures. The practice advised Unicredit in connection with the restructuring of Impresa Rosso’s debt.

DLA Piper’s Ernesto Apuzzo joined from Simmons & Simmons to coordinate its restructuring group. Apuzzo recently assisted numerous banks and funds in the restructuring process of important Italian industrial groups.

Studio Legale Giovanardi Fattori is recommended by clients for ‘its in-depth knowledge of bankruptcy procedures and in-court restructurings’.

Hogan Lovells Studio Legale advised Audley Capital Management on the novel restructuring of TAS’s financial indebtedness, marking one of the first-ever Italian transactions in which a listed Italian company entered into a restructuring agreement pursuant to article 182-bis of the Italian Insolvency Law.

Macchi di Cellere Gangemi assisted Candover in the restructuring of the Ferretti Group. Silvia Lazzeretti is recommended.

Studio Mariconda is rated by peers for its experience in insolvency matters.

Norton Rose Studio Legale’s Mario Lisanti has an active debt restructuring practice. The practice advised the banks on the €100m debt restructuring of Appliances Components Companies and its subsidiary Elettromeccanica.

Orrick, Herrington & Sutcliffe is increasingly focused on investments in distressed assets, bankruptcy-related litigation and business management in bankruptcy scenarios.

Tonucci & Partners in alliance with Mayer Brown LLP is valued by clients for its debt restructuring capabilities. Stefano Cirielli has ‘a superb ability to understand the client’s needs’.