For the government, the implementation of the new bankruptcy law by March 1 for businesses and June 1, 2021, for individuals is the big bet that will shape the outcome of the next post-memorandum evaluation of the country.
Deloitte is continuing the negotiations with Castlelake, the sole interested buyer, for the sale of a 52 million euro loan issued by National Bank (NBG) to Audio Visual owned by businessman Nikos Vardinogiannis.
The weight of debt, obligations from the Angelopoulos group remains a different puzzle to solve with both sides – father Konstantinos and sons George and Panagiotis – remaining opponents, making it extremely difficult to manage the situation.
The government also is planning to send to the Commission the application for the second phase of the Hercules program, which will allow banks to reduce NPLs to single-digit figures in the next 18 months.
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