The service
NPL and Special Situations advisory for companies in financial stress
I support entrepreneurs, management teams and investment funds through extraordinary operations on non-performing loans, distressed M&A and complex restructurings. Each intervention is structured with the same rigor a board applies to an irrevocable strategic decision.
20+ years of experience · 80+ closed operations · long-term relationships with Italian investment banks, institutional funds and law firms.
An M&A operation is worth as much as the quality of decisions made at the non-obvious moments: term sheet, due diligence, price negotiation. Everything else is execution.
Working principle
Operating areas
Four types of intervention
01 — NPL Portfolios
NPL/UTP portfolio sales and management
Structuring NPL and UTP portfolio sales, asset valuation, data room organization, investor selection (servicers, specialized funds), price negotiation. Support to banks and servicers from origination to closing.
Tipico: bank or servicer wanting to monetize a non-core portfolio.
02 — Distressed M&A
M&A on distressed assets
M&A on companies in financial difficulty: business unit sales, asset disposals, search for industrial or financial buyers, multi-stakeholder negotiation. Where appropriate, management through insolvency procedures.
Tipico: company with financial imbalance seeking a discontinuity solution.
03 — Debt Restructuring
Debt restructuring and banking agreements
Negotiation with banking syndicate for refinancing, term extension, covenant reprofiling, debt-to-equity conversion. Restructuring agreements, negotiated crisis composition, court-supervised plans. Legal, financial and operational coordination.
Tipico: company with banking tension wanting to avoid insolvency procedures.
04 — UTP & Crisis Workouts
UTP management and negotiated crisis composition
Active management of UTP (Unlikely To Pay) positions: recovery plan drafting, monitoring compliance, dialogue with the bank, escalation if necessary. For companies: use of Crisis Code instruments.
Tipico: entrepreneur wanting to manage crisis with method, not wait for it to worsen.
The method
How I work on complex situations
Each deal follows an explicit discipline that reduces subjective variables and makes the process governable for the client board. Four recurring phases:
- Strategic scoping (1-2 weeks) — framing the operation within its market, regulatory and financial constraints. Output: 1-page decision memo for the board.
- Structured execution (6-16 weeks) — teaser/IM, due diligence coordinated with legal/tax advisors, data room management, Q&A process. One or more negotiation rounds with counterparties.
- Terms negotiation (2-6 weeks) — SPA, reps & warranties, earn-out clauses, MAC clause, escrow, lock-up. Goal: transfer residual risk to the right party.
- Closing and Day-1 (2-4 weeks) — conditions precedent, signing, closing memo, first post-deal board. Operational integration or separation where applicable.
An independent advisor adds value when problems span more than a single domain — financial, legal, regulatory, industrial, relational. An M&A deal contains all of them.
Differentiators
Why work with a senior individual advisor
- ▸Clear accountability. One person responsible for the deal, not a rotating team. Who signs is who answers.
- ▸No conflicts of interest. Zero cross-selling of banking products, no commissions from counterparties. Advisory is paid only by the client.
- ▸Cross-domain specialization. M&A, Special Situations, AI Strategy integrated. Complex deals touch all three.
- ▸Public track record. 80+ operations, 4 published books, LinkedIn & CV verifiable. Reputation is the product.
- ▸Direct access. The client communicates with me, not an analyst. Decision timing collapses.
Want to discuss NPL & Special Situations for your company?
A 30-minute conversation, free, to see if there's an actual fit. I respond within 24h.
