Non-performing loans (NPLs) remain a significant challenge for European banks, especially in Southern Europe, due to the financial fragility of the region.
Special situations funds invest heavily in NPLs, attracted by the potential returns and as a reaction to high levels of liquidity in the market chasing a relatively small number of traditional special situation opportunities.
Our team of experts has considerable NPL experience and can support funds and banks in assessing and realising NPL related opportunities. Our recent work includes:
- advising on the good bank/bad bank split of the Cyprus Cooperative Bank, which had an NPL book of c.€4 billion
- assisting with the implementation of an Asset Protection Scheme following the above transaction
- support to a top tier Irish bank to design and implement its NPL strategy, including supporting its portfolio disposals
- valuing NPL portfolios of Greek banks
- disposal of a €150 million retail NPL portfolio in Cyprus.
We are able to help investing funds develop contingency plans, execute enforcement and insolvency strategies in the UK and overseas, given our unrivalled network of offices in offshore financial centres. Our recent experience includes:
- contingency planning for a regulated financial services business in the UK
- financial adviser to financial creditors on a multi-national manufacturing business
- developing a complex contingency plan to enforce over US listed securities on behalf of a fund.
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