Virgin Fibra secures court approval for restructuring plan through composition with creditors

Virgin Fibra S.r.l., a provider of fibre-optic internet connectivity services, has successfully finalised the restructuring of its financial position. The process concluded with the court approval of a composition with creditors (concordato preventivo) under Article 112 of the Italian Code of Crisis and Insolvency (CCII). The turnaround strategy involved the disposal of corporate assets alongside significant financial support from the company’s shareholders to facilitate the settlement of its debt position.

Virgin was assisted throughout the multidisciplinary restructuring by Pirola Pennuto Zei & Associati. The team included partner Francesca Onoscuri and senior associate Marco Romussi, who managed the financial, tax, and restructuring workstreams, while partner Pierluigi Samarotto and associate partner Giorgio Recine oversaw the legal aspects of the procedure. The various teams operated under the supervision of partner Stefano Barletta, with administrative support provided by Fidiger S.p.A.

Internal legal and corporate affairs for the company were managed by Giorgia Caccamo. The independent certification of the restructuring plan was conducted by Federico La Croce and Marco Sabatini of Studio La Croce. The judicial phase of the procedure was overseen by judicial commissioner Andrea Nannoni, who was assisted by Alida Curaba and Daniele Martinazioli.