LMS Insolvency&Restructuring department with a team led by Matteo Bascelli, partner, and composed of Elena Grigò, counsel, Riccardo Di Carlo and Andrea Di Gregorio, junior associates, has provided legal assistance to creditors (banks, financial intermediaries specialised in the management of UTP and NPLs receivables as well as investment funds specialised in turnaround) in the restructuring process of Parcor s.r.l., the company that owns the Parma Retail shopping park, which ended with the Court of Bologna approving the debt restructuring agreement pursuant to Article 182 bis of the Italian bankruptcy law.
Parma Retail is an innovative structure of over 40,000 sqm located in Parma, with areas dedicated to shopping, food and entertainment.
The agreement, which is related to the disposal of the real estate property, will allow the company to reduce its financial indebtness, also through the agreement with creditors.