Gattai, Minoli, Agostinelli & Partners assisted Val Val in the “concordato preventivo” procedure (composition with creditors) approved by the Court of Turin.

Gattai, Minoli, Agostinelli & Partners with Sergio Fulco (partner) and Matteo Mengoni (senior associate) assisted Val Val in the “concordato preventivo” procedure (composition with creditors) approved by the Court of Turin on 29 March 2017.

The concordato had been approved by the social creditors after obtaining a wide majority of consent.

Gattai, Minoli, Agostinelli & Partners assisted Val Val also in the competitive procedure for the sale of an important real estate asset of the company, at the end of which the asset has been sold to a well-known company operating in the real estate market of Turin assisted by Antonio Tola of NCTM law firm.

Even though the plan provides for the implementation of the concordato during the subsequent two years from the date of its approval by the Court, the sale of the real estate asset will enable the payment of the creditors in advance with respect to the plan’s provisions.