Restructuring to grow
We intervene with the help of highly qualified professionals with decades' worth of experience in relation to transactions involving debts of over one billion euro, in negotiations with credit institutions and/or suppliers, in order to achieve the objectives set out in the relevant financial measures.
We assist with management, from a technical perspective, and in collaboration with the appointed legal professionals, we help establish the associated contractual agreements.
The activities are organised in four phases:
- Financial and industrial diagnostics
- Development of a restructuring strategy and emergency management tools
- Development of financial measures
- Negotiation with creditors
As well as these activities, we also have proven experience in
- Developing business plans, thanks to our Performance Improvement practice experts
- Finance emergency management
- Loan agent
Financial analysis includes financial due diligence, short-term flow management planning and preliminary assessment of medium-term flows.
As part of the financial due diligence process, we accurately assess the debt structure (extent, technical form, creditor, deadline, guarantees, commitments etc.), the debt dynamics (commitments) and the state of relations with creditors. This activity includes reconciliation and analysis of the central credit register, assessment of transferable assets and shareholders' commitments.
As part of the short-term financial planning activity, we identify any short-term critical issues, in order to identify any needs for temporary support (stand still, moratoria, pactum de non petendo).
By way of preliminary medium-term financial planning (based on inputs from the industrial diagnostics process) we assess the extent of the general requirements and its distribution over time.
By way of the industrial diagnostics process performed by our advisers, together with the management team, we undertake a preliminary assessment of the causes of the emergency, the market context and the reorganisation activities undertaken and develop a preliminary business plan to underpin the restructuring activity.
In light of the results of the financial and industrial diagnostics process, we establish a debt restructuring strategy and identify the most appropriate financial instruments, settling upon an “in bonis” agreement, a recovery plan in accordance with art. 67 of the Italian Bankruptcy Law or a restructuring agreement in accordance with art. 182-bis or septies of the Italian Bankruptcy Law.
The financial measures, or financial plan is the document regulating the negotiation and approval of the financial plan with the creditors.
The document contains all of the necessary information for assessment and approval by the decision-making bodies of the financial institutions. This means breaking down the request for support into the various analytical categories (technical form, size, allocation among institutes, pricing, guarantees, covenants).
Negotiating with creditors involves establishing the approach, be it round table or bilateral, management of the requests, update of the financial measures.
This activity is particularly complex and requires detailed knowledge of the stakeholders considerations. If not management appropriately, it can cause delays in terms of closing or, in the most sensitive of cases, can jeopardise the approval of the plan and the measures themselves.
We provide support to the company CFO in handling temporary financial tensions, identifying the short-term requirements and coordinating management in meetings with creditors.
These meetings are designed to obtain supply and operating conditions in relation to credit lines to ensure that the company can continue to operate.
We work with independent professionals to monitor the implementation of the restructuring plan and compliance with the covenants set out in the corresponding contractual agreement.
We manage the exchange of information between the company and the credit sector in relation to restructuring agreements and syndicated loan agreements.
VICENZA – Adacta, Strada Marosticana, 6/8 - 17.00
LAZISE (VR) – Tenuta Canova - Masi Agricola – Via Delaini, 1 - Località Sacro Cuor - 16.30-20.30
VICENZA - Adacta, Strada Marosticana, 6/8 - 17.00