DEMA SpA’s debt restructuring plan.

Willkie represented Bybrook Capital and Morgan Stanley in the successful execution of a debt restructuring plan for DEMA SpA, an Italian aeronautics parts manufacturer, which was recently approved under article 182-bis of the Italian Bankruptcy Law.

The successful execution of this restructuring transaction is particularly notable given the challenges facing buyers of distressed assets in Italy.

DEMA SpA manufactures and supplies parts, tools, groups, and electric and mechanic assemblies for the aerospace industry. The company, led by Vincenzo Starace is based in Pozzuoli.

Under DEMA’s restructuring plan agreements, granted by Italy’s Court of Nola, Bybrook Capital will acquire a substantial majority of DEMA’s share capital, and in conjunction with Morgan Stanley will fund a new secured €60 million bond.

The Willkie team was led by corporate partners Maurizio Delfino (Picture), Leonard Klingbaum, Stanislao Chimenti, Simone Olivetti, Manuel Seminara and Federica Pecorini (restructuring), Luca Leonardi (corporate), Leonardo Fedrini (tax) and Patrizio Bernardo (employment).

Involved fees earner: Leonard Klingbaum – Willkie Farr & Gallagher; Luca Leonardi – Willkie Farr & Gallagher; Leonardo Fedrini – Willkie Farr & Gallagher; Patrizio Bernardo – Willkie Farr & Gallagher; Maurizio Delfino – Delfino Willkie Farr & Gallagher; Stanislao Chimenti – Delfino Willkie Farr & Gallagher; Simone Olivetti – Delfino Willkie Farr & Gallagher; Manuel Seminara – Delfino Willkie Farr & Gallagher; Federica Pecorini – Delfino Willkie Farr & Gallagher;

Law Firms: Willkie Farr & Gallagher; Delfino Willkie Farr & Gallagher;

Clients: Morgan Stanley; Bybrook Capital;

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