The first phase of the proceedings, under the 'cross class cram down' principle was approved by the Court of Novara on 7 November 2023.
The Court of Novara - in application of the new institution of the so-called cross-class cram down provided for by the Corporate Crisis Code - approved the arrangement by a vote of 6 to 2.
As provided for by the new Crisis Code, the decisive factor was the convenience of the arrangement proposal with respect to the liquidation perspective, resulting from the arrangement plan certified by Mr Giuseppe Acciaro.
DWF, with a team consisting of partner Matteo Pasculli and associate Alice Dognini assisted the financial creditors.
