Enrica Ghia has been a member of the Milan Bar since 1998 and is admitted to the superior courts. Since January 2002, Enrica has been managing partner of Studio Legale Ghia with offices in Rome and Milan. She is an expert in company law, business law, insolvency law and banking law. Enrica is also a turnaround professional recognised at EU level (EACTP). Enrica is a founding partner of JurisNet s.t.a. S.r.l., a limited liability corporate of lawyers with 11 shareholders and more than 160 affiliates all over Italy.
Describe your current role.
I am a lawyer loving her job: litigator by nature, consultant by design!
As a partner at Ghia Law Firm, I have always invested in international relationships as I believe in the power of synergies. I am also vice president international of TMA Global and an independent board member of three public companies in Italy.
Besides this, I am a proud mother of two boys and a girl who are grown up enough not to miss me if I am away from home, and I am lucky enough to still be married to the same lovely husband for the past 25 years!
What do you enjoy most about working in restructuring and insolvency?
It is not an easy industry especially because you must deal with clients who are under a serious amount of stress and anxiety. It is an industry where there are few women professionals but they bring added value to the whole market!
What I enjoy the most in restructuring are the human aspects: I always have the chance and opportunity to try to help people (shareholders, employees, creditors, suppliers, etc.) save value where possible and limit the negative impact of a distress. Of course, a positive outcome is not always reachable but there is always a positive aspect: it can go worse … it can rain!
What are the advantages and disadvantages of having a global practice?
I do not see any disadvantages. During my entire career, I have had the chance to meet many professionals from all over the world and have become good friends with some of them. Personal relationships help a global practice: working on cases in a team formed by people you know for quite a long time makes it so much easier! I am an active member of international associations in the field, such as TMA Global and International Insolvency Institute and it is there that I have built my network. As a firm, we believe that being recognised in the international arena is a plus! Each country has its own judicial peculiarities and having the opportunity to rely on local colleagues is an incredible advantage to increase effectiveness to the benefit of the client.
As restructurings become increasingly global in nature, what qualities must lawyers practising in the area possess?
Lawyers working in this domain must be global and local at the same time. All companies in restructuring have connections at international level that have an impact in the turnaround process, nevertheless each company is incorporated in a country which has its own rules, provisions and uses that ought to be respected. Therefore, I do believe that one of the most important quality is flexibility and adaptation!
How do you coordinate on cases when working alongside experts with other areas of expertise?
I believe that it is not possible to deal in turnaround without an interdisciplinary working team! There are various aspects that need to be taken into consideration in a turnaround that to manage all of them would simply not be professional. I am a very open and curious person: I love to learn from others and I learn fast! That is why it is quite easy for me to coordinate with experts and to drive all different aspects to create an overall picture in the interest of the client.
To what extent has covid-19 impacted your practice?
I have stopped travelling and I have learned that I can do the same things (almost) at my desk in Milan or Rome. Technology has helped me and my firm to support our clients on a continuous basis notwithstanding the current pandemic. Saying that, I cannot see that going forward there will be a return to in-person meetings!
As per our clients, the impact of covid-19 has been disruptive: only those who found solutions to adjust their offerings have been able to maintain their position in the market.
How do you see your practice developing over the next five years?
I am truly convinced that we are going to see challenging but exciting times in the next five years. It is a great opportunity for our practice to change model, look for cooperation and be open to innovation. Being more specific and at the same time promoting interdisciplinary could be the right recipe to face the future with a successful approach.
What is the best piece of advice you’ve ever received?
Distinguish yourself or extinguish.