the insider’s guide

Bain Capital sues Piraeus Bank at the High Court in London over NPL breaches

Bain bought Amoeba for €0.432 bn (Gross Book Value: €1.45 bn) and is is seeking estimated damages of EUR 32.3m plus interest, the difference between the actual value of the Portfolio and the value of the Portfolio if the Loan Warranties had been true.

Εxpress court trials for 37,000 borrowers to collect 7.8 bln euros

Banks and loan servicers are preparing to proceed with some 37,000 express court cases next year in a bid to lift the protection provided to borrowers under the Katseli Law (Law 3869/2010).

Bank of Greece expects an new inflow of NPLs due to the pandemic

Bank of Greece says in an interim monetary policy report. that the high percentage of performing loans benefiting from moratoria until end-December 2020 contained the inflow of new NPLs.

Finance Ministry is mulling with Greek bankers the new APS

Finance Ministry in talks with banks over expansion or the extension of Hercules -Asset Protection Scheme facilitating NPE securitizations.

doValue new servicing agreement in Italy for EU 1.6bn

doValue  announced that it has reached an agreement with UniCredit Group which provides for the exclusive management by the doValue Group, of a non-performing leasing portfolio of approximately EUR 1.6 billion.

Government, banks, loan servicers split on implementation of new bankruptcy code

Lenders must speed up all the procedures in order to launch the operation of the platform concerning the out-of-court settlement of natural persons, as provided by the new bankruptcy code, also known as the "Second Chance".

Grand Chalet hotel to be auctioned Jan 27 by Piraeus Bank

The Grand Chalet, one of the most famous hotels in Kifissia, will be put up for auction on January 27, 2021, by Piraeus Bank at a starting price of 5.28 million euros.

LARCO. The threat of … sudden death and GEK being among the suitors?

The surprise of the last few days? The apparent interest of the GEK TERNA group that has been added to the list of suitors.

Piraeus Bank EGM set to facilitate EUR7bn NPE securitizations

Piraeus Bank has called an Extraordinary General Meeting for shareholders to approve its corporate transformation (into a holding company), to facilitate the two planned NPE securitizations.

Alpha Bank deal with Davidson Kempner to be announced

Only the final signatures have been left to complete a formal agreement between US fund Davidson Kempner and Alpha Bank on the sale of the the10.8 billion euro Galaxy securitization and the sale of 80-85% in Cepal Hellas.

• P. Psycharis Psychiko villa goes under the hammer today

• WSJ: growing interest from foreign investors in Greek securitized NPLs.

• ECB decisions positive for Greek bonds and banks

• EU will present a plan for regional bad banks

• Eurobank is said to consider HSBC in Greece and expects EUR1.2bn 2021 NPE inflows.

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