Marotta Obtains Court Approval for First Concordato with Interested Creditor Class

Francesco Marotta acted as lead counsel for an important company in the proceedings, assisted by colleagues Ferdinando Silvestre and Annalinda Costanzo, while EY SLT provided fiscal and tax advisory support to the same client. The Tribunal of Brindisi homologated a concordato preventivo introducing an innovative application of the Italian Code of Crisis and Insolvency (CCII). The court — in a panel presided over by Judge Memmo with Judge Giliberti and reporting judge Natali — held that, for the purpose of homologation, the consent of an "interested" creditor class is sufficient even if that class is not necessarily prejudiced by the plan. The ruling offers new perspectives on the structuring of creditor classes and enables greater flexibility and functionality in restructuring plans, in line with the reforming intent of the CCII. Coordinated strategically and procedurally by Francesco Marotta, the operation demonstrated how it is possible to reconcile the interests of different creditor strata while preserving business continuity and achieving the highest possible satisfaction for creditors. The entire process was supervised by Judicial Commissioner Sandro Cavaliere and is now likely to become a reference point for future restructuring procedures. Francesco Marotta represented an important company with a team composed by: Francesco Marotta (lead counsel, restructuring and insolvency), Ferdinando Silvestre (legal support) and Annalinda Costanzo (legal support). Advisors to the company represented the debtor and prepared and attested the restructuring documentation with a team composed by: Pietro Luca Bevilacqua (plan drafting) and Gennaro Prato (plan drafting), and Maurizio Pagliara (attestation of feasibility). EY SLT represented the company on tax and fiscal matters with a team composed by partners Maria Antonietta Biscozzi and Umberto Iannarilli.

Marotta Obtains Court Approval for First Concordato with Interested Creditor Class

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