Regional news: Italy

Business rescue not available for foreign companies in South Africa

An Italian construction company has failed to open business rescue proceedings in South Africa, after an appellate court found the process was not open to foreign companies, while also refusing to recognise its Italian restructuring.

23 November 2020

Latham & Watkins announces January promotions

Latham & Watkins has announced promotions for two members of its restructuring and special situations group in London and Hamburg, as five other lawyers with relevant experience are also elevated across the firm.

30 October 2020

Insolvent solar investor fails in claim against Italy

An arbitration tribunal has rejected an insolvent solar investor’s claim against Italy, finding that reforms to the country’s renewable energy regime were not irrational or arbitrary.

10 September 2020

Kirkland advising as Travelodge launches CVA following “ground-breaking” injunction

The UK’s largest independent hotel brand Travelodge has launched a company voluntary arrangement to reduce its rent bills, with Deloitte partners Ian Wormleighton and Dan Butters appointed as nominees.

09 June 2020

PwC Italy hires new associate partner

Updated: PwC TLS Italy’s restructuring and insolvency department has hired lawyer Ilaria Zingali as a new associate partner in Milan.

12 March 2020

Lecta scheme sanctioned in London

The High Court of Justice in London has sanctioned a scheme of arrangement for global paper manufacturer Lecta, after creditors voted overwhelmingly in favour of the plans last week.

28 January 2020

ABI International, Paris: “Why can’t we all just get along?”

The UNCITRAL model law on recognition of insolvency-related judgments could “fix” the impact caused by the decisions in Rubin and Gibbs if enacted in the UK, panellists at the ABI’s international conference in Paris have said.

21 November 2019

US court appoints receiver over alleged blockchain fraud

The US Securities and Exchange Commission has successfully petitioned a Los Angeles court to appoint a receiver over a blockchain platform engulfed in an alleged US$21 million investment fraud.

31 May 2018

Italian court appoints special administrator over bankrupt cryptocurrency exchange

An Italian court has appointed a special administrator over bankrupt cryptocurrency exchange platform BitGrail, following an application made by a Norwegian national representing thousands of the platform’s users, with advice from the law firm BonelliErede.

25 May 2018

Back to bailouts? Lawyers reflect on spate of European bank resolutions

Over the course of the past five weeks, the European Commission has approved resolution schemes for four troubled regional banks in Italy and Spain, authorising up to €22 billion of state aid. Lawyers tell GRR that this serves as a reminder that political pressures continue to define governments’ approaches to bank resolution.

11 July 2017

Get unlimited access to all Global Restructuring Review content