PRESS - ROKAS

(Article by Dr. A. Tsavdaridis, published in the Arbitration & ADR Newsletter of the ILO on July 14, 2016)

(Article by Mira Todorovic Symeonides, published in the Energy & Natural Resources Newsletter of the ILO on July 4, 2016)

(Article by Dr. A. Tsavdaridis, published in the Arbitration & ADR Newsletter of the ILO on May 12, 2016)

(Financial Regulation briefing – April 2016)

 

Law 4354/2015 has set the starting point for the implementation of the policy for the external management and tranfer of Non-Performing Loans (NPLs) in Greece. The legislator aims at supporting the Greek banks in relation to their NPL portfolios by facilitating their cooperation with expert NPL-management companies. Those companies should have the know-how, experience and expertise to effectively manage NPLs and achieve significant recovery rates on behalf of the banks. Further, the legislator clearly indicates the orientation towards a secondary market for NPLs. Even though transfers of NPL portfolios have not yet been trigerred, the framework is in place and its application is expected sooner or later. Since the entry into force of Law 4354/2015, the relevant regulatory and supervisory regime has been evolving, calling for a consistent application and interpretation. The current regime is expected to further develop in the near future, thus, interested parties should always seek expert legal advice in this regard.

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