Corporate crises and new funding sources
From asset-backed securities to structured finance: complexity, risks and benefits for the corporate system, with a focus on SMEs and channels alternative to bank credit.
Rome · Milan · London
TrustAdvisory brings together chartered accountants, academics and specialists in structured finance, corporate law and domestic and international taxation. Alongside its professional practice it runs a research centre devoted to the financial, legal and organisational instruments through which companies and institutions navigate and emerge from crisis.
Practice areas
Every engagement starts from the legal and tax reading of the transaction and ends with the financial structure, the contracts and the documentation that banking counterparties require. The work is designed to be presented to financial institutions, investors and public bodies, in Italy and abroad.
Structuring and implementation of structured finance transactions for Italian and European SMEs: securitisations, asset-backed securities, collateral-backed instruments. Set-up of vehicles and funds, SICAVs and UCITS structures.
Coordination of project finance teams for infrastructure and concessions. Experience includes the design of the international joint venture between Caisse des Dépôts et Consignations and leading Italian groups for the Turin–Milan and Rome–L'Aquila motorway concessions, covering domestic and international contractual and tax aspects.
Legal and tax analysis of cross-border transactions, group structures and investment vehicles, with attention to substance, compliance and consistency with tax-authority practice.
Support to companies in internationalisation and in raising capital from foreign investors and financial institutions, including through project finance techniques and the preparation of teasers, information memoranda and business plans to banking standards.
Due diligence, corporate check-ups and assistance in extraordinary transactions. Advice on organisational models under Legislative Decree 231/2001 and on corporate-law matters, with experience at Milano Serravalle, Gestore dei Mercati Energetici and Cassa Conguaglio per il Settore Elettrico.
Assistance to companies and institutions in crisis: diagnosis, restructuring instruments, new funding sources and internal-control systems. Participation in the Central Bank of the Republic of San Marino project for the banking system.
Research Centre
The Centre studies how crises arise, spread and are resolved, from the accounts of a single company to monetary and financial systems. The research is applied: its findings feed the operational tools the team uses in professional engagements.
From asset-backed securities to structured finance: complexity, risks and benefits for the corporate system, with a focus on SMEs and channels alternative to bank credit.
Evolution of monetary and financial systems, global crises and financial crisis management at the level of States and supranational bodies, drawing on work within the Advisory Commissions of the Rome Institute of Chartered Accountants (ODCEC Roma) on corporate finance and on the verification of banking and insurance financial services and products.
Countering default risk: economic, financial and social choices read together with their legal and ethical scenarios, in the perspective of a socio-humanistic finance.
A crisis is never only a liquidity problem: it is a breakdown of trust between a company, its lenders and its institutions. The Centre works on the instruments that rebuild that trust, starting from the documents counterparties actually read.
Publications
Selected works published by the head of the Centre. The Centre's research lines grow out of these contributions.
Globalizzazione e contrasto ai rischi di default. Scelte economiche, finanziarie, sociali e scenari giuridici ed etici [Globalisation and countering default risk]
C. Scrocca, Giappichelli, Turin, 2022
Dalle Asset Backed Securities (ABS) alla finanza strutturata: complessità, rischi e vantaggi per il sistema impresa. Nuove fonti di provvista [From ABS to structured finance: new funding sources]
C. Scrocca, in World Law and Economics – Global Knowledge, 1-2, 2020
Evoluzione dei sistemi monetari e finanziari. Crisi globali e finanza socio-umanistica [Evolution of monetary and financial systems: global crises and socio-humanistic finance]
C. Scrocca, in World Law and Economics – Global Knowledge, 1-2, 2020
Profile
Senior Advisor at TrustAdvisory and head of the Research Centre. Chartered accountant and statutory auditor, specialist in finance and international financial instruments.
A chartered accountant since 1994 and statutory auditor since 1998, he works with leading international financial institutions and public and private bodies on structured finance, project finance and international tax planning. Since 2022 he has been attending the Master in International Tax Law at the University of Rome Tor Vergata.
He sits on two Advisory Commissions of the Rome Institute of Chartered Accountants (ODCEC Roma): the Corporate Finance Commission and the Commission for the verification of banking and insurance financial services and products. He is a member of CFE Tax Advisers Europe.
His professional experience spans asset-management and structured-finance advisory, the coordination of project finance teams for government projects, participation in the Central Bank of San Marino project for the banking system, the Operations & Supply Chain Management practice and, for over a decade, governance, due diligence and information systems for industrial groups and concession holders.
Contacts and offices
TrustAdvisory receives clients by appointment in Rome, Milan and London. For a first contact, write to the address below or fill in and sign the request form: it lets us frame the matter before the meeting.
Dr Claudio Scrocca, Senior Advisor. Requests are answered on working days.
Piazzale Ardigò 38, 00142 Rome, Italy. Head office: professional practice and Research Centre.
Structured finance, extraordinary transactions and relations with the banking system.
International mandates, fund raising and foreign counterparties.
Claudio Scrocca · Chartered accountant and statutory auditor · Piazzale Ardigò 38, 00142 Rome, Italy · registered with the Institute of Chartered Accountants of Rome (ODCEC Roma) · member of the CFE Tax Advisers Europe Office Team · VAT no. IT10121750581 · claudio.scrocca@trustadvisory.it · +39 06 39727924
The contents of this page are for information only and do not constitute professional advice or an offer of financial services. Every engagement is governed by a written mandate.
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