Gattai Minoli Agostinelli & Partners assisted Cerved Credit Management S.p.A. in the execution of an agreement with BHW Bausparkasse AG -Italian branch pertaining to a long-term industrial partnership for the management of non-performing loan (“NPLs”) originated by BHW-IT in the Italian territory.
The transaction involved the disposal in favour of Cerved Credit Management of BHW-IT’s business division pertaining to the management of non-performing loans, operated under the name “Injunctions and Executions”.
Simultaneously with the above mentioned disposal, the parties entered into a multi-year servicing agreement according to which the management of the portfolio of NPLs originated by BHW-IT, including additional NPLs that will be generated in the future, is outsourced to CCM. The service agreement also provides that Cerved Credit Management will carry out a significant activity to prepare a complete “Loan Tape” on the NPLs, which is a prerequisite for the potential launch, in the medium term, of a process for the disposal of the portfolio of NPLs in line with the business plan of BHW-IT.
Founded in November 2012, Gattai Minoli Agostinelli & Partners is a law firm specialising in Corporate and M&A, Banking & Finance, Tax, Restructuring, Real Estate, Employment, Intellectual Property and Dispute Resolution. With a team of 70 lawyers – 22 of whom are partners – it boasts a leading position in the private equity and corporate finance sectors. The Firm has offices in Milan, Rome and London.