Agenda 2026

CHECK-IN AND WELCOME COFFEE

WELCOME REMARKS

DATA – BASED INTRODUCTION

KEYNOTE SPEECH
A PROACTIVE APPROACH TO THE DISTRESSED CREDIT MARKET: FROM UNCERTAIN CASH FLOWS TO AN INDUSTRIAL INVESTMENT OPPORTUNITY THROUGH CONTROL OF THE UNDERLYING ASSETS

Francesco Canzonieri
CEO & Founder – Nextalia Investment Management

Moderated by Luca Davi – Il Sole 24 Ore

ROUNDTABLE
HIGH-RISK CREDIT ECOSYSTEM: THE BANKS’ PERSPECTIVE, FROM REACTIVITY TO PROACTIVITY

• How has the banking industry’s approach to High-Risk Credit evolved? Real progress, emerging models, and resistance still to be overcome.
• Are allies needed? Who deserves a seat at the table? What characteristics set truly suitable partners apart?
• The next steps: what is still missing to effectively broaden the ecosystem? What does the High-Risk Credit market still need to reach maturity? Can the skills currently available on the market be considered sufficient today?

KEYNOTE SPEECH
(To be confirmed)

Gregorio De Felice
Chief Economist – Intesa Sanpaolo

ROUNDTABLE
SERVICERS FACING THE HIGH-RISK CREDIT CHALLENGE: EVOLUTION OF THE MODEL, THE ROLE OF PRIVATE CAPITAL AND FUTURE OUTLOOK

• The servicers of tomorrow: simple managers, or the new market leaders of the distressed market? How the role of servicers is changing along the non-performing credit chain, and how far this transformation could go.
• The challenge of the next five years: still just technical suppliers to the banks, or architects of new value-creating solutions through activation and partnership with Private Capital?
• What role should servicers play in restructuring platforms?

NETWORKING LUNCH

KEYNOTE SPEECH
(To be confirmed)

ROUNDTABLE
THE ITALIAN NEGOTIATED CRISIS COMPOSITION (CNC) AND DEBT RESTRUCTURING AGREEMENTS AS TOOLS FOR MANAGING CORPORATE CRISIS: INITIAL RESULTS AND OUTLOOK

• A crisis should be anticipated rather than endured: what early warning tools can turn prevention from a virtuous exception into common practice?
• The CNC put to the test: is it truly taking off, or is it still a missed opportunity?
• Public Guarantees, current state of play: what real impact on restructuring processes?

KEYNOTE SPEECH
(To be confirmed)

ROUNDTABLE
HIGH-RISK CREDIT ECOSYSTEM: THE INVESTORS’ PERSPECTIVE, FROM OPPORTUNISM TO STRATEGY

• Private Capital as a dynamic risk manager across the entire capital structure: what this means for banks, companies and advisors at the crisis table.
• Actual investor appetite, sector attractiveness and new intervention strategies. How attractive is today’s distressed market really today for Private Capital?
• Coexistence between banking logic and investment logic along the capital structure: the conditions for a collaboration that works.
• The Asset Contribution Fund as a tool for managing High-Risk Credit: a ten-year assessment, spanning the market, banks and investors.
• Banks have been among the leading promoters of the instrument since its launch: what has worked in the relationship between credit institutions and Contribution Funds, and what remains unresolved.
• How much capital has truly been mobilized, and how much new finance have Contribution Funds actually channeled toward industrial turnarounds and distressed asset management? Merely superficial financial transactions, or a genuinely useful tool for managing and reviving difficult cases?
• Real estate has been the preferred asset class for many contribution transactions. A decade on, what value has actually been created?

KEYNOTE SPEECH
(To be confirmed)

GALA DINNER