International law firm Watson Farley & Williams (“WFW”) advised Banca Popolare di Milano S.p.A. (“BPM”) regarding a US$28.8m loan facility granted to L.G.R. di Navigazione S.p.A. (“L.G.R. di Navigazione”) and secured by, inter alia, mortgages over two medium range ice class tankers, the “Cenito” and “Posillipo”.
Founded in 1865 by future Italian Prime Minister Luigi Luzzatti, BPM was Italy’s second co-operative bank. It merged with Banco Populare on 1 January 2017, to form Banco BPM, Italy’s third largest retail and corporate banking conglomerate.
Naples-headquartered L.G.R. di Navigazione provides a comprehensive range of professional services to the international sea transportation industry, operating a fleet currently comprising four vessels
The WFW Italy maritime team advising BPM was led by Partner Furio Samela, assisted by Senior Associate Michele Autuori and Associates Emanuele Caretti and Antonella Barbarito.