Milan, 14 november 2022 – Operations have resumed at Fondo Umbria’s Monteluce work site: the project for the strategic redevelopment of the eponymous district in central Perugia will be completed with the subsequent development of the city, for the benefit of the entire area.
The site revaluation, construction of housing and commercial premises and of services of public interest in the area, together with the completion of the related urbanization works, will be possible thanks to the support of all the creditors, notably Ampre S.r.l., the securitization vehicle of the Back2Bonis fund established with Project Cuvée, a Fondo Umbria creditor for more than 29 million euro.
Project Cuvée is the first innovative multi-originator platform for the management of unlikely to pay credits (UTPs) promoted by AMCO-Asset Management Company S.p.A, acting as Master and Special Servicer, and by the Prelios Group as Real Estate partner and manager of the Back2Bonis fund through Prelios SGR.
Thanks to the intervention of the Back2Bonis fund, Fondo Umbria has been provided with the necessary financing to pay its creditors under the terms of the agreements reached and to sustain its management costs for the completion of the Monteluce project. The transaction took place as part of a recovery plan verified pursuant to art. 67.3.d of Italy’s Bankruptcy Act.
Fondo Umbria was assisted by KPMG with partner Marco Brugola and assistant manager Federico Tricotti for financial matters and partner Maurizio Nitrati and associate Antonella Cecarini for real estate matters; it was assisted by Legance with partner Giandomenico Ciaramella, counsel Antonello Pezzopane and associate Mario Mazzotta for legal matters.
Ampre S.r.l., through special servicer AMCO, was assisted by Giovanardi Studio Legale with partner Linda Morellini, salary partner Luca Baroni and associate Andrea Santambrogio.
Prelios SGR S.p.A. was assisted by Cappelli RCCD Studio Legale with partner Morena Bontorin and Deborah De Rosa.