WFW advises DeA on credit restructuring re Elbana di Navigazione

Watson Farley & Williams (“WFW”) advised DeA Capital Alternative Funds SGR (“DeA”), a division of IDeA Corporate Credit Recovery II Shipping Fund dedicated to shipping NPLs, on the restructuring of its credit relating to Elbana di Navigazione S.p.A., a family-run shipowner founded in the 1940s.

As a result of the transaction, DeA Capital has, through one of its fully owned subsidiaries, acquired a vessel from Elbana di Navigazione’s fleet.

The deal is part of a larger project aimed at managing and restructuring a significant portfolio of NPLs purchased by DeA from three Italian banks and involving eight shipowners among which was Elbana di Navigazione.

The WFW Italy Maritime team advising BPER was led by Partner Furio Samela, working closely with Senior Associate Michele Autuori, assisted by Associates Antonella Barbarito and Beatrice D’Amato.

About Watson Farley & Williams:

Watson Farley & Williams is an international law firm with offices in Athens, Bangkok, Dubai, Frankfurt, Hamburg, Hong Kong, London, Madrid, Milan, Munich, New York, Paris, Rome and Singapore. The firm currently has 500+ lawyers and over 900 staff. Watson Farley & Williams is a leading international law firm providing services of high quality and value to clients throughout a range of industry sectors, with particular focus on: Energy & Infrastructure, Maritime, Natural Resources, Real Estate and Transport. Lawyers from our international offices work as integrated teams to provide practical, commercially focused legal services. Our locations allow us sufficient geographical spread to be competitive in the global market and to provide consistently high quality legal services to our clients. w: www.wfw.com