Part 26A restructuring plan deal debrief—Cimolai SpA

Copyright © 2025 LexisNexis
Published by a LexisNexis Restructuring & Insolvency expert
Practice notes

Part 26A restructuring plan deal debrief—Cimolai SpA

Copyright © 2025 LexisNexis

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes
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Cimolai SpA and Luigi Cimolai Holdings SpA applied for a Part 26A restructuring plan (RP) at a sanction hearing in August 2023. The key points appear below (capitalised terms not defined herein are as defined in the convening and sanction judgments).

This Deal Debrief forms part of our Restructuring plans toolkit.

For a detailed analysis of key metrics from the RPs filed in 2023 and commentary from leading lights in the restructuring world, see Practice Note: Market Insights Trend Report—trends in Part 26A restructuring plans in 2023.

Name of plan companiesCimolai SpA (Cimolai) and Luigi Cimolai Holdings SpA (LCH) (the Plan Companies)
Industry sectorSteel manufacturing
Place of debtor’s incorporation and jurisdictional factors Italy
Timeline24 October 2022: the Court of Trieste (Italy) commenced concordato proceedings against both Plan Companies, appointed a judicial commissioner and granted a stay preventing creditors from commencing or continuing enforcement action against their assets29 December 2022: Fancourt J made an interim order under the Cross-Border Insolvency Regulations (CBIR 2006), SI 2006/1030 recognising the concordato proceedings
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Jurisdiction(s):
United Kingdom

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