Corporate crises

In certain moments or phases in the life of a company - characterised by revenue shortfall and critical financial situations, or the need for reorganisation due to conflicts, decline and pre-crisis situations - the corporation and its management may need to reassess their strategies and organisational structures.

In restructuring and pre-crisis situations, the professional teams at Cortellazzo & Soatto, with their specialist knowledge of corporate, economic, financial and legal matters, are able to assist the company owners and management in reaching an understanding of the causes of the crisis and drafting the strategic, industrial, economic and financial recovery plans.

 In the more difficult crisis situations, we assist with the adoption of procedures aimed at maintaining the continuity of the business as a going concern, safeguarding the creditors and avoiding, or limiting, any liability on the part of the company owner, bodies and management.

In the course of more than 50 years in practice, Cortellazzo&Soatto has developed specific experience in:

• the drafting of recovery and financial rebalancing plans pursuant to Article 67 of the Italian Bankruptcy Law (Legge Fallimentare) and the related negotiating and contractual aspects
• legal and other forms of assistance in the definition of out of court agreements with creditors, inclusive of debt restructuring agreements under the terms of Article 182-bis of the Italian Bankruptcy Law (Legge Fallimentare) and assistance with tax settlements
• the certification of recovery plans under Article 67 of the Italian Bankruptcy Law (Legge Fallimentare), and debt restructuring agreements under Article 182-bis of the Italian Bankruptcy Law (Legge Fallimentare)
• compositions with creditors and bankruptcy procedures under the terms of Articles 161, 160 and 124 of the Italian Bankruptcy Law (Legge Fallimentare)
• extraordinary administrative procedures for major companies in crisis

Our legal team also offers assistance and consultancy services to companies and insolvency bodies, in bankruptcy disputes relating to the liability of directors and auditors of companies in crisis and claw-back and credit recovery actions.

As advisor to the courts and procedural bodies, Cortellazzo&Soatto and its professionals may take on mandates as official receiver, liquidator, extraordinary receiver, independent expert, court-appointed technical consultant and bankruptcy trustee.

We also assist private individuals and families with problems of excessive debt.

These are our services:

• Legal assistance for bankruptcy trustees and receivers
• Advisors for access to insolvency procedures
• Advisors for access to agreements under Articles 67 and 182-bis of the Italian Bankruptcy Law (Legge Fallimentare)
• Certifications
• Legal assistance in insolvency procedures
• Disputes