Bernitsas Law advised Intrum AB (Publ) in connection with the acquisition under the Greek NPLs law of a portfolio of bank loan and credit receivables with a gross book value of c.€2.4bn originated by 13 Greek banks placed into liquidation (Project Aeolus) and represented by the appointed single special liquidator (PQH). Intrum Hellas has been appointed as servicer of the non performing loans portfolio.
This is the first transaction in the Greek market involving a portfolio of NPLs originated by Greek banks placed into liquidation so that the sale process and the transaction was conducted by PQH in respect of the banks under liquidation.
Intrum is a leading European credit management services group.
Athanasia Tsene led the Bernitsas Law Team.