Orrick Advises on First-of-Its-Kind Securitization of Renewable Energy Receivables in Italy
Our team represents Italian and multinational companies, financial institutions and funds in their transactional, compliance and dispute resolution matters. Our team is ranked across nine practice areas in Chambers Europe 2016, including capital markets, compliance, corporate/M&A, energy and project finance.
We have pioneered in many areas of Italian finance, including securitization, debt capital markets, derivatives, nonperforming loans, real estate finance and general lending transactions. Our team is consistently recognized for our work in securitization and debt capital markets by Chambers Global and Chambers Europe. In 2016, our Finance team was named Non-Performing Loan Law Firm of the Year by Legalcommunity.
We're known for our innovative transactional work. According to a client report to Chambers: "The firm's best feature is that its lawyers are innovative thinkers. They always try and find new ideas and new angles for possible transactions." As an example, we have played an integral role in the establishment of the Italian mini-bond market, which is making it easier for small and midsize enterprises to tap into the debt capital markets. We collaborated with key market participants, including issuers, investors, regulators, banking industry groups and the Borsa Italiana, to create the market and its regulatory framework. We also advised on the first mini-bond listing and crafted the first mini-bond fund. To date, we have advised participants in more than half the mini-bonds issued since 2013.
We act for Italy's leading financial institutions as well as global banks active in Italy. We also act for Italy's largest companies in executing their finance strategies. For example, we represented SNAM S.p.A., one of Europe's largest gas companies, in a series of financings, including the first intermediated buy-back in Italy. We also advised SNAM in its strategic acquisition of the 20 percent interest held by Statoil in the Trans Adriatic Pipeline. And we represented leading electric power producer Tirreno Power in the €1 billion restructuring of its outstanding debt, one of Italy's most significant recent restructurings.
Our Corporate team advises leading companies in Italy and around the world on cross-border and domestic M&A, corporate governance and other commercial activities in Italy. Our clients include Acer Europe, Crédit Agricole Vita, Coca-Cola, Eni, Rothschild, Comdata and China's Bright Food Group. Our Private Equity team acts for some of the most prominent funds and investment groups in Italy, and is described by Chambers Europe 2016 as "well equipped to deal with multi-jurisdictional issues." We also advise some of Italy's most innovative tech companies. We recently assisted fintech startup Tinaba in its launch, and continue to advise on important issues related to its international development.
Our lawyers also act for Italian and international clients in debt restructuring transactions, investments in distressed assets, bankruptcy-related litigation and business management.
We are recognized as one of the top corporate governance advisors in Italy. Our team has assisted hundreds of Italian and international clients in complying with Legislative Decree 231, which introduced the direct liability of corporate entities for crimes committed by directors, executives and their subordinates. For this work, we were was named Corporate Law Firm of the Year in 2015 by Legalcommunity.
We also offer a full range of services to banks, including advising on anti-money laundering programs, corporate governance matters and administrative proceedings.
Our Italian Energy team focuses on project financing and regulatory issues related to the construction of renewable and traditional power generator plants. The team has advised on projects throughout Europe and in emerging markets of Eastern Europe, Africa and beyond. For this work, we were named Energy Law Firm of the Year in 2016 by Legalcommunity, which called our team "a strategic asset that constantly grows." We recently advised on the sale and purchase of a 60 MW wind energy project in the municipality of Melfi, the largest wind project ready for construction in Italy.
Our team is at the forefront of legal and regulatory developments. In 2015, we obtained a historic judgment from Italy's Constitutional Court, which held that the pension reforms proposed in the so-called Save Italy Decree are unconstitutional. This judgment protects the interests of 6 million retirees. We are currently representing international investors in disputes concerning Italy's retroactive changes to solar subsidy support.
Our Milan office, designed by celebrated architect Daniel Libeskind, has stunning views of the historic Duomo di Milano and the city's modern skyscrapers. Our offices are close to Teatro La Scala, one of the leading opera and ballet theatres in the world, and to Via Montenapoleone, the center of Milan's fashion district. Our Rome office is located in a 19th-century building across from the Roman walls, with a view of Michelangelo's Porta Pia.
Our lawyers are dedicated to serving our community through pro bono work. We partner closely with three nonprofits: Avvocati per Niente (Lawyers for Nothing); Cena dell'Amicizia (Dinner of Friendship), which advocates for the marginalized and homeless and manages two shelters; and Life for Madagascar, which focuses on health services in Madagascar. As part of Orrick Cares, our team ran in the 2015 Milan City Marathon Charity Program.