Pedersoli in the debt restructuring of Malvestiti

Milan, 5 April 2017 – Pedersoli Studio Legale, with a team composed of Maura Magioncalda (Equity Partner) Alessandra De Cantellis (Partner) and Nicola Nocerino, has advised the banks and Unicredit Leasing, in the drafting and negotiation of the agreements relating to the financial debt restructuring of Malvestiti Group.

The transaction, relating to an overall indebtedness of approximately 220 million Euro, has been structured by executing (i) an agreement pursuant to art. 182-bis of the Italian Bankruptcy Law between T.T. Holding S.p.A. under liquidation and its creditors, already approved by the Court of Busto Arsizio, (ii) a debt restructuring agreement according to a certified plan according to art. 67, paragraph III, letter d) of the Italian Bankruptcy Law between Immobiliare Emmegi Due S.p.A. and its creditors and (iii) a waiver to a previous debt restructuring agreement, entered into, in addition to the holding company, by the main subsidiaries with the relevant creditors; while (iv) two subsidiaries controlled by T.T. Holding S.p.A. under liquidation (Volkswagen- and Seat-branded dealers) have started independent compositions with creditors pursuant to art. 160 and subsequent of the Italian Bankruptcy Law for winding-up.

This transaction will allow Malvestiti Group to repay its existing financial indebtedness through the appreciation of its real estate assets.




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