Possessing ‘a high level of expertise in the field of bankruptcy procedures and corporate crisis’, BonelliErede regularly advises clients across the restructuring and insolvency sector, including in debt restructuring, administration, liquidation and derivative action matters. The firm is also able to draw on its wider expertise in corporate, banking and finance, litigation and IP issues to enhance its sector-specific advice. Specialising in transfers of equity, debt restructuring and capital increases, Marco Arato leads the team from Genoa. Giuseppe Lombardi is noted within the team for his skill in litigation and arbitration proceedings. Fabio Macrì specialises in corporate law aspects of restructuring and bankruptcy cases.

Chiomenti supports a wide range of clients, including distressed companies, creditors and bodies, in insolvency proceedings and distressed M&A. The firm is well-versed in the new Insolvency Code, supporting clients with negotiated crisis composition and arrangement with creditors proceedings. Giulia Battaglia, alongside Rome-based Gianrico Giannesi, is based in Milan and specialises in complex transaction structuring for debtors, banks and investors. Also in the Milan office, practice head Antonio Tavella advises clients on distressed M&A and finance matters as well as the purchaser of receivables. Giada Caravello focuses on debt restructuring and special situations.

Gianni & Origoni maintains an ‘excellent understanding of the industry and network within Italy’ and is highly knowledgeable of the new Italian bankruptcy law. The firm is well-versed in both advisory and representative support for national and international investors. It is also able to draw on its multi-disciplinary expertise to enhance its advice, including corporate, banking & finance, labour, real estate, antitrust and tax. Gabriella Covino and Luca Jeantet are the team’s practice heads, advising on debt restructurings and bankruptcy. Antonio Auricchio is another noted member of the practice, with experience in composition with creditors proceedings.

Drawing on talent from its multi-disciplinary expertise, Clifford Chance advises clients, with particular strength advising debtees and investors, in an array of distressed situations. The firm supports clients in debt restructuring, equity swaps and other forms of distressed refinancing matters. It is also well-versed in insolvency proceedings. Within the team, Carlo Felice Giampaolino is an expert in contentious insolvency law, having experience as a liquidator. Filippo Isacco advises clients on corporate restructuring transactions, whilst Ferdinando Poscio focuses on leveraged general and syndicated lending.

Dentons boasts a broad practice, with expertise in distressed M&A, bankruptcy advice and both corporate and financial restructuring. It receives instructions for claw-back actions, debt recovery, liquidations and NPL management. Managing partner Federico Sutti spearheads the practice and combines skills in real estate M&A and debt restructuring. Alessandro Fosco Fagotto is noted within the team, with knowledge of consolidation agreements, bridge financing and restructuring agreements. In June 2024, Cristian Fischetti left the firm.

Known for its ‘strong knowledge of the industry’, the Legance - Avvocati Associati team combines experts in financial, transactional and litigation backgrounds to advise its clients across the sector. With specialists in Milan, Rome and London, the firm is also able to advise clients on matters spanning Italy and Europe. The team is led by four lawyers: Luca Autuori, Filippo Chiodini Innocenti Ducci, Giandomenico Ciaramella and Iacopo Fontana. Chiodini specialises in distressed M&A and private equity, whilst Fontana advises on restructuring and insolvency procedures in the shipping sector. Garavelli is also noted for his litigation expertise.

With broad expertise in distressed M&A, Linklaters Studio Legale Associato specialises in advising investors on the purchase of assets and capital from distressed entities, including in the context of composition with creditors proceedings. The firm is also able to draw on its international network to support clients in cross-border matters. Francesco Faldi oversees the practice, advising on leveraged and structured financing. Ettore Consalvi frequently advises clients in special situations and on the disposal of non-performing loans. Andrea Arosio is well-versed in debt restructuring and general lending transactions.

Molinari regularly advises debtors and creditors, with knowledge of both sides of distressed situations and their solutions, including major restructurings. The firm is well-versed in the new Italian insolvency code, advising on significant composition with creditors litigation. The team is led by Ugo Molinari, a corporate restructuring specialist, and Alessandro Fontana, who advises on structured finance transactions. Giacomo Colombo is knowledgeable of extraordinary reorganisation transactions.

Containing ‘exceptional lawyers’, Studio Ubertazzi advises clients across the gamut of industries, with experience in extraordinary administration, claw-back actions, settlement agreements and distressed M&A. Its clients include listed and unlisted companies based across the globe and across industries. Based in Milan, the team is led by Tommaso Ubertazzi, a ‘top-tier lawyer’ advising on debt restructurings and corporate reorganisations, and Benedetta Ubertazzi, an expert in extraordinary operations.

ADVANT Nctm has deep expertise in restructuring and insolvency, advising debtors and creditors in restructuring negotiations, insolvency procedures, distressed investment and extraordinary transactions. In particular, the firm is well-versed in supporting debtors in debt restructurings. The team is led by Fabio Marelli, who advises publicly- and privately-held companies on debt restructurings, from Milan. Juri Bettinelli is experienced in special situations, advising investors on asset purchases and debt-to-equity swaps.

Supporting clients in and out of court, Carnelutti Law Firm provides a comprehensive service on restructuring and turnaround matters. The firm is experienced in composition with creditors and liquidation proceedings. It also supports clients in extraordinary administrations. Overseen by practice head Luca Arnaboldi, the team also includes ‘outstanding partner’ Christian Patelmo is an expert on cross-border litigation and arbitration, with particular expertise in debt restructuring and bankruptcy proceedings. Sara Severoni focuses on dispute resolution, frequently advising on insolvency-related litigation.

Supporting both debtors and creditors, DLA Piper regularly advises on the gamut of restructuring issues, with broad experience working on bond position restructurings and the restructuring of UTP exposures. The firm regularly advises on composition with creditors' agreements and negotiated settlements. Heading the practice from Rome, Antonio Lombardo specialises in debt-equity swaps in distressed situations. Ugo Calò is a financing expert with a particular strength in infrastructure and real estate finance. Alberto Angeloni is also noted for his work in insolvency litigation. In January 2025, Francesco De Gennaro left the firm.

The ‘collaborative team’ at Hogan Lovells International LLP supports domestic and foreign clients, from distressed companies to investment funds to banks and financial institutions, with special strength in restructuring proceedings and corporate reorganisation. It has particular experience in negotiated crisis settlements. The team also handles disputes relating to insolvency, including claw-back actions and creditor arrangements. Mauro Saccani, the firm’s practice head, focuses on leveraged finance, debt capital markets, restructurings and reorganisations. Francesco De Gennaro joined the firm from DLA Piper in January 2025.

With a team possessing ‘exceptional expertise’ in the sector, LCA Studio Legale is well-versed in a wide range of restructuring and insolvency matters. Members are approached by clients to advise on, and negotiate over, debt restructurings and distressed M&A. The firm is also experienced in extraordinary administration. The team is led by four partners in the Milan office: bankruptcy expert Salvatore Sanzo; Diana Burroni, an advisor on liquidation procedures; Angela Petrosillo, who specialises in arrangements with creditors; and Michele Petriello, who combines knowledge of corporate governance and bankruptcy.

Osborne Clarke‘s multidisciplinary practice advises on, in addition to pure restructuring and insolvency issues, the finance, regulatory, tax and public law issues affecting clients in distressed situations. The firm is also accustomed to supporting creditors, suppliers and lenders in crisis settlement matters. The team is led by Filippo Canepa, who advises clients on crisis management, insolvency proceedings and reorganisations. Maurizio Zonca is a key member of the team, advising bankruptcy trustees on liability claims and debt collection.

PedersoliGattai advises a wide array of clients, including debtors, lenders, shareholders, government entities and asset buyers. The firm is well-versed in banking and finance issues, corporate matters, insolvency and litigation. The team is led by fund advisor Gaetano Carrello, contentious company law expert Sergio Fulco and debt restructuring specialist Maura Magioncalda from Milan. Fellow practice head Alessandra Giovetti, who advises on insolvency proceedings and corporate crises, oversees the team from Turin.

A&O Shearman advises clients from across a broad spectrum of industries, including real estate, automotive, industrial and manufacturing, on restructuring issues. As an international firm, it is well-suited to cross-border matters, from distressed financing to rescheduling and insolvency litigation proceedings. In July 2024, Paolo Manganelli joined the firm from Ashurst and now leads the team. He is experienced with compositions with creditors and voluntary arrangements. Within the team, Tommaso Paltrinieri frequently advises debtors, creditors, agents, receivers and senior and mezzanine lenders.

Bird & Bird specialises in advising licensed insolvency practitioners, lenders and trade creditors on a range of in- and out-of-court matters, including turn-around plans, restructuring agreements, compositions with creditors, negotiated compositions and debt trading. The firm can also draw on its specialists in corporate, tax, employment and real estate law to enhance its advice. The team is led by Alberto Salvadè, who advises on distressed asset purchases.

The ‘excellent’ team at Cappelli Riolo Calderaro Crisostomo Del Din & Partners is comprised of a wide range of specialists equipped to handle domestic and cross-border transactions for investors, banks and borrowers. The firm is well-versed in distressed situations, from the sale and purchase of assets and shares to corporate and capital reorganisations. Practice head Paolo Calderaro assists national and international in distressed financing operations and deleveraging. Fellow practice head Alberto Del Din, who splits his time between Milan and London, specialises in structured finance and the real estate sector.

Advising across the restructuring and insolvency sector, Eversheds Sutherland Associazione Professionale particularly specialises in insolvency litigation, representing clients in liability suits against directors and auditors as well as claw-back actions. The firm is also regularly instructed on extraordinary administrations, compositions with creditors and restructuring arrangements. Split between Milan and Rome, the team is overseen by Renato Fiumalbi, an advisor on insolvency litigation in the construction and logistics industry, and Simone Barnaba, an expert in oil and gas issues.

With particular strength in debt restructuring, EY TAX & LAW ITALY is approached by corporates, public and private companies and financial institutions in distressed situations. The department regularly collaborates with other teams in the firm, including the corporate, employment and tax teams, to provide a seamless service on bankruptcy and restructuring issues. Marco Nazareno Mizzau is the team’s Milan-based practice head and an expert in corporate restructuring. Angelo Ciro del Duca leads the team from Rome and advises clients in the maritime and transportation sectors.

‘Offering the client comprehensive support’, Gatti Pavesi Bianchi Ludovici advises both debtors and creditors in and out of court, assisting clients with reorganisations, restructurings and insolvency proceedings. Its clientele includes funds, listed and unlisted companies, shareholders and sponsors. Based in Milan, the team is spearheaded by corporate reorganisation specialist Luca Faustini and Andrea Novarese, who helps with structured and managed debt finance transactions. Novarese joined the team alongside Maria Cristina Storchi and Francesco Pirisi from White & Case (Europe) LLP in May 2024.

The ‘excellently structured’ team at Greenberg Traurig Santa Maria is well-versed in restructuring and insolvency issues across Europe. The team combines specialists across a range of disciplines with experts in special situations, distressed M&A and credit management matters. The team is led by Bruno Cova, who focuses on complex transactions and compliance issues. Francesco Horvat is noted within the team, focusing on debt restructurings, turnaround processes, distressed acquisitions and litigation.

Working out of Milan, K&L Gates’ team supports clients before, and through, insolvency processes. The firm advises clients on pre-bankruptcy agreements, debt restructurings and composition with creditors. It is well-versed in both the in- and out-of-court aspects of insolvency matters. Paolo Rusconi focuses on debt restructuring transactions, whilst Fabrizio Dotti adds insight into the sale of bank debt. Chiara Anceschi is an experienced advisor to banks, debt funds, alternative lenders and borrowers in distressed asset management transactions.

‘With a focus on results’, Orrick, Herrington & Sutcliffe‘s team advises large Italian companies and distressed asset investors in turnaround plans, debt restructurings, distressed transactions and insolvency proceedings. The firm is also well-versed in contentious insolvency matters. The practice is spearheaded by Daniela Andreatta, who represents clients in insolvency and bankruptcy litigation as well as distressed asset investments.

PwC TLS Avvocati e Commercialisti handles restructuring plans, negotiated arrangements with banks and insolvency procedures for clients in distressed situations, with the ability to draw on its non-legal services. The firm is also experienced in supporting creditors and receivers through arrangement with creditors and receivership procedures. Ernesto Apuzzo supports domestic and international clients in debt restructuring and turnaround transactions. Pierantonio Musso is noted within the team for expertise in corporate crisis resolution, restructurings, reorganisations and distressed M&A.

Simmons & Simmons specialises in out-of-court restructuring for all parties to such transactions, from debtors to investors to creditors. The team is able to draw on the expertise of the wider firm, with tax, labour, corporate and securitisation lawyers to call upon. The team is led by Federico Perego, who joined in June 2023 from Orrick, Herrington & Sutcliffe, an advisor on pre-bankruptcy compositions and debt restructuring agreements.