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    Annual Meeting at the INSOL Europe Annual Congress, Athens


    The Turnaround Wing is following the development of EU Commission policy on NPL’s in parallel to the drafting of a the model law based on the proposal of Directive on Preventive restructuring Frameworks. The Turnarround Wing considers that modern restructuring can be efectively enhanced through NPLs trade (investment), restructuring and asociated policies such as loan-to-own strategies. Here is a summary of the relevant documentation that the EU Commission has produced:

    In addition, the European Banking Authority has advised the European Commission on the use of backstops to prevent the building of NPL’s - read the report here.

    The European Commission is also active in facilitating the assignment of claims. This is very relevant in the restructuring industry specifically in relation to the assignment of NPLs: 

    Alberto Núñez-Lagos Burguera and Steffen Koch, Co-Chairs of the Turnaround Wing, invite you to its meeting in Athens on Friday 5 October at 5.30pm to discuss:

    1. The proposal for a directive on credit servicers, credit purchases and the recovery of collateral
    2. The Regulation on law applicable to the third party effects of assignement of claims

     
    If you would like to attend the Turnaround Wing meeting, please contact Caroline Taylor.

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