NewCo created, which purchased the asset and is now completing the building.

Drawing up the Business Plan.
Establishing the SPV and purchase of the property from the bankrupt company.
Management of relations with the project investor as part of the Business Plan execution.
Management of relations with the municipality and Public Administration as regards urban planning, building permits etc. (expired permits requiring negotiations of extensions)
Worksite management: supplier selection, negotiation of payment terms and conditions with suppliers, oversight of construction work, analysis and assessment of technical criticalities, etc.), worksite management and sign off.
Cash management: revenue, supplier payments, settlement of all taxes, levies, etc.
Sales of the asset: today, 2 years after the start of the project, 51 apartments and 5 maisonnettes have been sold, one year ahead of the timeframe envisaged by the first step of the Business Plan.

Negotiation and agreement with the debtor to purchase the asset and take on the debt burden.
The transaction was conducted together with the bank holding the property underlying the mortgage loan. This same bank granted new financing in order to complete certain construction work.

Drawing up the Business Plan.
Management of relations with the project investor as part of the Business Plan execution.
Management of relations with the municipality and Public Administration as regards urban planning, building permits etc. (expired permits requiring negotiations of extensions)
Worksite management: supplier selection, negotiation of payment terms and conditions with suppliers, oversight of construction work, analysis and assessment of technical criticalities, etc.), worksite management and sign off.
Cash management: revenues, supplier payments, settlement of all taxes, levies, etc.
Putting the property on the market and sale.

Advisory and agency role

Drafting of an economic and financial plan to the sale and resolution of the mortgage debt, tax impact analysis. Buyer search and asset sale.

Advisory service provision

Managing relations with the project investor in the execution of the Business Plan.
Negotiations with existing non-financial creditors.
Management of relations with the municipality and Public Administration as regards urban planning, building permits etc. (expired permits requiring negotiations of extensions)
Worksite management: supplier selection, negotiation of payment terms and conditions with suppliers, oversight of construction work, analysis and assessment of technical criticalities, etc., worksite management and sign off.
Cash management: revenues, supplier payments, settlement of all taxes, levies, etc.
Management of relations with the company’s administration and accounts functions (i.e. billing, identifying any off balance sheet payment obligations, etc.).
Managing agency network during asset sale.

Governance of the operation with the appointment of a CRO who managed the financial restructuring process within the framework of the provisions of Art 67 of the Italian Bankruptcy Law.
Purchase of a stake in the company and management of refurbishment by means of a call option written into the Restructuring Plan.

Drawing up the Restructuring Plan in compliance with Art 67 of the Italian Bankruptcy Law.
CRO oversight of the Restructuring Plan.
Worksite management: supplier selection, negotiation of payment terms and conditions with suppliers, oversight of construction work, analysis and assessment of technical criticalities, etc., worksite management and sign off.
Sale of the property

Demerger of the company that managed the initiative into a new vehicle where the asset and related debts were conferred. Usufruct of the shares of the new vehicle for the time necessary to complete the work and sell the real estate units.

Drawing up the Business Plan, Management of relations with the project investor as part of the Business Plan execution, Management of relations with the municipality and Public Administration as regards urban planning, building permits etc., negotiation of payment terms and conditions with suppliers, oversight and completion of construction work, definition and execution of the marketing plan, putting the property on the market and sale.

Usufruct of company shares for the time necessary to complete work and sell the real estate.

Negotiation of debt terms and conditions with existing suppliers.
Worksite management: supplier selection, negotiation of payment terms and conditions with suppliers, oversight of construction work, analysis and assessment of technical criticalities, etc., worksite management and sign off.
Drawing up and execution of the Marketing Plan;
Sale of the property.

NewCo created, which purchased the asset in order to renovate the building and put it on the market.

Drawing up the Business Plan, costituzione veicolo e acquisto del fallimento, Management of relations with Public Administration (Municipality, Prefecture and Region) for the clearing of the building because the apartments are illegally squattered, oversight and completion of construction work, putting the property on the market and sale.