LMS Insolvency & Restructuring department, with a team led by the partner Matteo Bascelli and composed of the counsel Elena Grigò and the associate Riccardo Di Carlo, has provided legal assistance to creditors (banks and financial intermediaries active in the management of UTP and NPLs receivables), in the restructuring process of Conceria del Chienti S.p.A. – whose brand name (CTC) is registered with the Special Register of Historic Brands of National Interest held by the Ministry of Economic Development – which ended with the Court of Macerata approving the debt restructuring agreement pursuant to Article 182 bis of the bankruptcy law with related tax and social security transaction.
The overall deal involved an investment in CTC Conceria del Chienti (the NewCo) by club deal AVM Sustainability and Invitalia’s Fondo Salvaguardia Imprese, which made it possible to preserve 100 percent of employment.
As part of the deal, at the behest of the new shareholders, NewCo has been transformed into a benefit company and has initiated protocols of understanding with a number of partners, industrial and university, aimed at promoting the improvement of the environmental impact on the territory and the creation of a sustainable supply chain.