NCO-Nextalia Credit Opportunities is taking over all banking mortgages and unsecured loans of the Italian construction group Silvano Toti Holding and its subsidiary Lamaro Appalti, two companies in receivership (see here a previous post by BeBeez).The fund may take over both companies ahead of carrying on the redevelopment project of the former Mercati Generali area in Rome. Francesco Canzonieri, the ceo of Nextalia, is already holding talks with Hines Italy RE, a subsidiary of the US giant that Hines Mario Abbadessa heads, to develop the valuable asset that are still in the real estate group’s portfolio. Silvano Toti Holding has losses of 159 million euros following a 149 million write-off of assets. Antonio Maria Leozappa and Leo Piccininni, the extraordinary commissioners for Toti and Lamaro, required the companies to submit a recevership or debt restructuring plan by 20 July, Saturday.
Legance and Milan-listed illimity Group promoted LAISA, an AI-based legal-tech start-up which handles the cycle of NPEs with the structure of a law firm (see here a previous post by BeBeez). On 26 June, Wednesday, Stefania Peveraro, the Editor in-chief of BeBeez and board member of Assofintech, presented the company at Milan Museum of Science and Technology. In 2023, Giovanni Lombardi (chairman and general counsel of illimity), managing director Enzo Schiavello (partner at Legance), Valentina Masi (General Counsel of Legance), Giacinto Di Donato (head of Legance’s massive litigation debt recovery team), Pierluigi Federici (founding partner of the Federici Law Firm), Legance, and arec neprix (illimity group) founded LAISA. Emanuele Inguaggiato joined the company’s founders in early 2024. LAISA has revenues of 2 million euros and net profit of 0.385 million.
In 1H24, the participants to the Italian NPEs market closed 8 deals worth in the region of 2.05 billion euros, far less than 46 transactions for above 22 billion of 2023 (see here the BeBeez NPL Report 2023 available for the subscribers to BeBeez News Premium and BeBeez Private Data) (see here a previous post by BeBeez). The derisking activity of the Italian banks switched the NPEs from the books of the lenders to those of the investors. Click here for downloading the full report with the deals tables.
