Track record

We have successfully completed several operations, all of them characterized by excellent results in terms of return and multiples on invested capital.

2020

Est

Pre-bankruptcy composition agreement with creditors definitively approved by the Court of Milan  in February 2020

  • Nominal value of restructured liabilities: € 17.6 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0.2 million
  • Nominal value of assets assumed: € 0.5 million

E-Bora

Bankruptcy composition agreement with creditors definitively approved by the Court of Ancona  in July 2020

  • Nominal value of restructured liabilities: € 20.7million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 4.2 million
  • Nominal value of assets assumed: € 6.7 million

Gestioni Ambientali

Bankruptcy composition agreement with creditors definitively approved by the Court of La Spezia  in November 2020

Co-Investor: Guber/Bluex

  • Nominal value of restructured liabilities: € 433.9 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 55.7 million
  • Nominal value of assets assumed: € 552 million

Omnia

Pre-bankruptcy composition agreement with creditors definitively approved by the Court of Padova  in September 2020

  • Nominal value of restructured liabilities: € 82.8 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 12.7 million
  • Nominal value of assets assumed: € 16.4 million

Bentini

Bankruptcy composition agreement with creditors definitively approved by the Court of Ravenna  in December 2020

Co-Investor: Premuda

  • Nominal value of restructured liabilities: € 191.8 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 20.7 million
  • Nominal value of assets assumed: € 22.5 million

Coop-Costruzioni

Transfer agreement relating to clawbacks and other intangible assets owned by Coop. Construzioni in compulsory liquidation

Cartolarizzazioni

Subscribed securities of different seniority issued by securitization vehicles established pursuant to Law 130/99 which have been made available as assignees of assets represented by unsecured non-performing loans entered in bankruptcy proceedings

  • Nominal value of the underlying assets: over € 890 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 19,0 million
  • Nominal value of assets assumed: € 27,7 million

2019

Valbona

Pre- bankruptcy agreement with creditors definitively approved by the Court of Rovigo in February 2019

  • Nominal value of restructured liabilities: € 38,7 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 19,0 million
  • Nominal value of assets assumed: € 27,7 million

Tre-A

Bankruptcy composition agreement with creditors definitively approved by the Court of Rome in June 2019

  • Nominal value of restructured liabilities: € 32,2 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 6,2 million
  • Nominal value of assets assumed: € 25,2 million

Securitizations

Subscribed securities of different seniority issued by securitization vehicles established pursuant to Law 130/99 which have been made available as assignees of assets represented by unsecured non-performing loans entered in bankruptcy proceedings

  • Nominal value of the underlying assets: over € 450 million

2018

Spinelli

Bankruptcy composition agreement with creditors definitively approved by the Court of Ascoli Piceno in September 2018

  • Nominal value of restructured liabilities: € 26,9 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 7,7 million
  • Nominal value of assets assumed: € 19,8 million

ZH Costruzioni

Bankruptcy composition agreement with creditors definitively approved by the Court of Bolzano in December 2018

  • Nominal value of restructured liabilities: € 75,6 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 1,8 million
  • Nominal value of assets assumed: € 36,0 million

CO.GE.I.

Bankruptcy composition agreement with creditors definitively approved by the Court of Rome in October 2018

  • Nominal value of restructured liabilities: € 409,8 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 10,0 million
  • Nominal value of assets assumed: € 74,9 million

My Market

Bankruptcy composition agreement with creditors definitively approved by the Court of Messina in November 2018

  • Nominal value of restructured liabilities: € 25 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 1,6 million
  • Nominal value of assets assumed: € 8,3 million

Cedis

Bankruptcy composition agreement on a company under extraordinary administration definitively approved by the Court of Bari in October 2018

  • Nominal value of restructured liabilities: € 31,1 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,6 million
  • Nominal value of assets assumed: € 7,2 million

Securitizations

Subscribed securities of different seniority issued by securitization vehicles established pursuant to Law 130/99 which have been made available as assignees of assets represented by unsecured non-performing loans entered in bankruptcy proceedings

  • Nominal value of the underlying assets: over € 230 million

2017

Eltra

Bankruptcy composition agreement with creditors definitively approved by the Court of Torre Annunziata in July 2017

  • Nominal value of restructured liabilities: € 10,1 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 4,5 million
  • Nominal value of assets assumed: € 5,9 million

Selcom

Acquisition of assets represented by stakes in a company operating in the production of electronic and mechanical equipment and systems.

AdB RE

Acquisition of single name RE deriving from non-performing leases with a nominal value above € 5 million

Lawsuit BS

Acquisition from bankruptcy companies of litigation for liability actions against primary counterparties with a nominal value above € 10 million

RE Vegagest

Acquisition of exposures on RE assets held by closed real estate fund

Securitizations

Subscribed securities of different seniority issued by securitization vehicles established pursuant to Law 130/99 which have been made available as assignees of assets represented by unsecured non-performing loans entered in bankruptcy proceedings

  • Nominal value of the underlying assets: over € 250 million

2016

Sale Ideale

Acquisition of assets represented by a stake in a company holding a patent for the production of low-salt liquid salt

Old.SA

Bankruptcy composition agreement with creditors definitively approved by the Court of Padua in March 2016

  • Nominal value of restructured liabilities: € 2,5 million
  • Bankruptcy charges (secured by a bank guarantee): € 1,5 million
  • Nominal value of assets assumed: € 3,9 million

H.D.I. Holding Dolciaria Italiana

Bankruptcy composition agreement with creditors definitively approved by the Court of Cremona in April 2016

  • Nominal value of restructured liabilities: € 36,5 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 16,1 million
  • Nominal value of assets assumed: € 36,4 million

By You

Acquisition of receivables and participation in companies in liquidation in arrangement with credit card owner of distressed assets.

  • Nominal value of assets assumed: € 2,1 million

Securitizations

Subscribed securities of different seniority issued by securitization vehicles established pursuant to Law 130/99 which have been made available as assignees of assets represented by unsecured non-performing loans entered in bankruptcy proceedings

  • Nominal value of the underlying assets: over € 350 million

2015

Lanificio L.T.

Bankruptcy composition agreement with creditors definitively approved by the Court of Prato in July 2015

  • Nominal value of restructured liabilities: € 1,1 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,1 million
  • Nominal value of assets assumed: € 0,8 million

F.M.R.

Bankruptcy composition agreement with creditors definitively approved by the Court of Bologna in December 2015

  • Nominal value of restructured liabilities: € 5,8 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 4,7 million
  • Nominal value of assets assumed: € 26,6 million

Autocommissionaria Pratese

Bankruptcy composition agreement with creditors definitively approved by the Court of Prato in January 2015

  • Nominal value of restructured liabilities: € 4,9 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 2,1 million
  • Nominal value of assets assumed: € 4,8 million

Progetto Magnolia

Acquisition of shares in a company in liquidation that was owner of distressed assets

  • Nominal value of restructured liabilities: € 0,7 million

2014

Marco

Bankruptcy composition agreement with creditors definitively approved by the Court of Fermo in June 2014

  • Nominal value of restructured liabilities: € 3,4 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 1,7 million
  • Nominal value of assets assumed: € 3,5 million

Calzaturificio Duemila

Bankruptcy composition agreement with creditors definitively approved by the Court of Naples in October 2014

  • Nominal value of restructured liabilities: € 1,1 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,6 million
  • Nominal value of assets assumed: € 1,5 million

Victor

Bankruptcy composition agreement with creditors definitively approved by the Court of Rome in November 2014

  • Nominal value of restructured liabilities: € 21,0 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 3,3 million
  • Nominal value of assets assumed: € 4,0 million

La Spola

Bankruptcy composition agreement with creditors definitively approved by the Court of Prato in April 2014

  • Nominal value of restructured liabilities: € 3,2 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,3 million
  • Nominal value of assets assumed: € 0,7 million

Cavirivest

Bankruptcy composition agreement with creditors definitively approved by the Court of Padua in May 2014

  • Nominal value of restructured liabilities: € 72,0 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 16,6 million
  • Nominal value of assets assumed: € 78,0 million

Frau Medica

Bankruptcy composition agreement with creditors definitively approved by the Court of Milan in May 2014

  • Nominal value of restructured liabilities: € 1,7 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,9 million
  • Nominal value of assets assumed: € 2,0 million

Gruppo Fioroni

Bankruptcy composition agreement with creditors on companies I extraordinary administrations definitively approved by the Court of Perugia in June 2014

  • Nominal value of restructured liabilities: € 179,5 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 22,6 million
  • Nominal value of assets assumed: € 59,2 million

2013

Tormar

Bankruptcy composition agreement with creditors definitively approved by the Court of Rome in January 2013

  • Nominal value of restructured liabilities: € 4,2 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 1,9 million
  • Nominal value of assets assumed: € 3,1 million

F.M.E.

Bankruptcy composition agreement with creditors definitively approved by the Court of Asti in February 2013

  • Nominal value of restructured liabilities: € 9,9 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 1,7 million
  • Nominal value of assets assumed: € 2,6 million

Distribuzione Detersivi Nobile

Bankruptcy composition agreement with creditors definitively approved by the Court of Palermo in January 2013

  • Nominal value of restructured liabilities: € 1,2 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,8 million
  • Nominal value of assets assumed: € 3,3 million

Gruppo Osvaldo Bruni

Bankruptcy composition agreement with creditors definitively approved by the Court of Prato in July 2013

  • Nominal value of restructured liabilities: € 13,2 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 1,3 million
  • Nominal value of assets assumed: € 3,0 million

Co. Mart.

Bankruptcy composition agreement with creditors definitively approved by the Court of Bari in July 2013

  • Nominal value of restructured liabilities: € 135,8 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 6,5 million
  • Nominal value of assets assumed: € 134,5 million

Cei Casillo

Bankruptcy composition agreement with creditors definitively approved by the Court of Rome in August 2013

  • Nominal value of restructured liabilities: € 22,0 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 4,5 million
  • Nominal value of assets assumed: € 10,0 million

Lema

Bankruptcy composition agreement with creditors definitively approved by the Court of Perugia in October 2013

  • Nominal value of restructured liabilities: € 1,8 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,3 million
  • Nominal value of assets assumed: € 1,0 million

Formaggi San Giorgio

Bankruptcy composition agreement with creditors definitively approved by the Court of Mantua in November 2013

  • Nominal value of restructured liabilities: € 1,1 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,8 million
  • Nominal value of assets assumed: € 1,6 million

Dragomar

Bankruptcy composition agreement with creditors definitively approved by the Court of Rome in December 2013

  • Nominal value of restructured liabilities: € 58,1 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 4,8 million
  • Nominal value of assets assumed: € 11,9 million

Cositalia

Bankruptcy composition agreement with creditors definitively approved by the Court of Palermo in March 2013

  • Nominal value of restructured liabilities: € 1,7 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,8 million
  • Nominal value of assets assumed: € 1,7 million

Calzaturificio Big Maker 2

Bankruptcy composition agreement with creditors definitively approved by the Court of Trani in March 2013

  • Nominal value of restructured liabilities: € 3,7 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 1,9 million
  • Nominal value of assets assumed: € 3,2 million

Immobiliare Federico

Bankruptcy composition agreement with creditors definitively approved by the Court of Prato in April 2013

  • Nominal value of restructured liabilities: € 31,8 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,4 million
  • Nominal value of assets assumed: € 2,3 million

Meccanica Zag

Bankruptcy composition agreement with creditors definitively approved by the Court of Bologna in May 2013

  • Nominal value of restructured liabilities: € 1,0 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,6 million
  • Nominal value of assets assumed: € 0,9 million

Cicciari e Mirabile

Bankruptcy composition agreement with creditors definitively approved by the Court of Barcellona Pozzo di Gotto in June 2013

  • Nominal value of restructured liabilities: € 1,7 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,7 million
  • Nominal value of assets assumed: € 1,4 million

Apollo Tendenze Moda

Bankruptcy composition agreement with creditors definitively approved by the Court of Prato in June 2013

  • Nominal value of restructured liabilities: € 0,4 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 2,4 million
  • Nominal value of assets assumed: € 3,4 million

2012

Maglificio Frabo's

Bankruptcy composition agreement with creditors definitively approved by the Court of Trani in September 2012

  • Nominal value of restructured liabilities: € 2,8 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 1,6 million
  • Nominal value of assets assumed: € 3,5 million

Cedifor

Bankruptcy composition agreement with creditors definitively approved by the Court of Barcellona Pozzo di Gotto in December 2012

  • Nominal value of restructured liabilities: € 4,0 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 1,6 million
  • Nominal value of assets assumed: € 3,1 million

Mario Niccoli

Bankruptcy composition agreement with creditors definitively approved by the Court of Pistoia in March 2012

  • Nominal value of restructured liabilities: € 11,8 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,8 million
  • VNominal value of assets assumed: € 3,1 million

2011

Simeltel

Bankruptcy composition agreement with creditors definitively approved by the Court of Naples in June 2011

  • Nominal value of restructured liabilities: € 0,7 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,2 million
  • Nominal value of assets assumed: € 0,5 million

Arlecchino

Bankruptcy composition agreement with creditors definitively approved by the Court of Latina in May 2011

  • Nominal value of restructured liabilities: € 36,6 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 11,5 million
  • Nominal value of assets assumed: € 37,6 million

Ce. Di. Puglia

Bankruptcy composition agreement with creditors definitively approved by the Court of Bari in June 2011

  • Nominal value of restructured liabilities: € 245,0 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 52,7 million
  • Nominal value of assets assumed: € 400,0 million

2010

Cantiere Navale Valdettaro

Bankruptcy composition agreement with creditors definitively approved by the Court of La Spezia in July 2010

  • Nominal value of restructured liabilities: € 18,4 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 2,2 million
  • Nominal value of assets assumed: € 11,0 million

Sielm

Bankruptcy composition agreement with creditors definitively approved by the Court of Rome in October 2010

  • Nominal value of restructured liabilities: € 23,1 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 6,0 million
  • Nominal value of assets assumed: € 45,2 million

Luigi Procacci

Bankruptcy composition agreement with creditors definitively approved by the Court of Trani in March 2010

  • Nominal value of restructured liabilities: € 2,8 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,9 million
  • Nominal value of assets assumed: € 2,2 million

Gruppo Nadini

Bankruptcy agreement with creditors definitively approved by the Court of Modena in March 2010

  • Nominal value of restructured liabilities: € 79,2 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 8,8 million
  • Nominal value of assets assumed: € 14,7 million

Euro Fresco

Bankruptcy composition agreement with creditors definitively approved by the Court of Bologna in May 2010

  • Nominal value of restructured liabilities: € 1,6 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 0,7 million
  • Nominal value of assets assumed: € 1,8 million

2009

Faber Factor

Pre-bankruptcy composition agreement with creditors definitively approved by the Court of Ancona in June 2009

  • Nominal value of restructured liabilities: € 95,7 million
  • Pre-Bankruptcy charges (secured by a bank guarantee): € 71,8 million
  • Nominal value of assets assumed: € 303,9 million