Regional news: Italy
Minority bondholders defeat Italian ferry operator’s tortious interference claims
Ferry operator Moby SPA has failed to convince a New York court that an Italian noteholder and a US investment bank tried to foil its Italian restructuring by interfering with creditor relationships and trying to take over the company, in a case set to consider whether New York state legislation for the protection of free speech could be used to prevent parties from weaponising local courts against foreign insolvency proceedings.
09 August 2022
FTI Consulting launches restructuring practice in Italy
New York-listed FTI Consulting has added corporate finance and restructuring services in Italy with hires from strategy consultancy Boston Consulting Group and Milan-based financial advisory Erre Quadro.
20 June 2022
Ireland opts in to updated EU regulation annexes
Ireland has belatedly opted into the updated version of the recast European Insolvency Regulation, and will now automatically recognise the new Dutch and German schemes along with a host of other new and expected European restructuring tools in the regulation’s revised annexes.
16 May 2022
Major modelling agency files Ch11 in New York
Italian-owned modelling agency Major Model Management has filed for bankruptcy in New York, blaming the “crippling” effect of a federal lawsuit brought by model Jasmine Burgess over allegedly unpaid wages.
14 February 2022
DIPping a toe in the water: US-style rescue finance comes to the EU
A Hogan Lovells team looks at some of the differences in the way post-petition finance provisions have been (or will be) implemented in France, Germany, Italy and the Netherlands, drawing comparisons with the established DIP finance regime in the US.
26 January 2022
Italian ferry operator seeks US recognition amid asset seizure attempts
Ferry operator Moby SPA has sought Chapter 15 recognition of its troubled Italian restructuring in Florida in an effort to block creditors from seizing its assets.
25 January 2022
New Weil study on corporate distress finds liquidity pressures rising
UK corporates experienced the highest levels of relative distress in Europe during the pandemic, a new study from Weil Gotshal & Manges has found, with liquidity pressures now rising as governments roll back financial stimulus measures.
16 December 2021
Chinese bank aims debt claim at Inter Milan president
A Hong Kong branch of China Construction Bank has sued the president of Italian football club Inter Milan, seeking more than US$250 million in outstanding debts held by Chinese retail conglomerate Suning.
06 August 2021
Italian shipper seeks Australian recognition following seizure threats
Italian shipping firm Michele Bottiglieri Armatore has won an interim injunction in Australia over fears an Irish investment fund is preparing to arrest one of its vessels, following failed efforts in China and Canada.
14 July 2021
Community round-up: partners move firms across Europe and the US
Advisory firm Alvarez & Marsal has hired a new leader for its Italian restructuring group, while law firms K&L Gates, MÖNIG and Eversheds Sutherland have added partners across Europe, and US firms CohnReznick and Fox Rothschild have bolstered their practices on the East Coast.
09 July 2021