GR Semicolon EN

Show simple item record

dc.contributor.author
Platsa, Kyriaki Marina
en
dc.date.accessioned
2019-04-16T12:51:05Z
dc.date.available
2019-07-16T00:00:12Z
dc.date.issued
2019-04-16
dc.identifier.uri
https://repository.ihu.edu.gr//xmlui/handle/11544/29356
dc.rights
Default License
dc.subject
Non-performing loans
en
dc.subject
Enforcement
en
dc.subject
Extrajudicial
en
dc.subject
Collateral
en
dc.title
'Legal Aspects of the Enforcement of Non-Performing Loans in Europe'
en
heal.type
masterThesis
en_US
heal.language
en
en_US
heal.access
free
en_US
heal.license
http://creativecommons.org/licenses/by-nc/4.0
en_US
heal.recordProvider
School of Economics, Business Administration and Legal Studies, LLM in Transnational and European Commercial Law, Mediation, Arbitration and Energy Law
en_US
heal.publicationDate
2019-04-17
heal.abstract
The present paper discusses the accumulation of Non-Performing Loans (NPLs) on banks’ balance sheets, particularly after the recent financial crisis and recurrent recessions, which adversely affects banks’ performance and intensifies systemic risk. For this reason, bank-specific measures and systemic-wide policy initiatives have been proposed and followed, with the objective of effectively managing existing high stocks of NPLs and preventing their future excessive build-up. Particularly in Europe, various policy actions have been adopted in an effort to effectively address this legacy of the crisis. Such legislative initiatives are complementary and form a comprehensive package, aimed at enhancing the Banking and Capital Markets Union, thus promoting the establishment of an integrated Economic and Monetary Union. Within the Council’s Action Plan and the Commission’s NPL legislative package, there has been proposed a Directive on a common distinct accelerated extrajudicial collateral enforcement mechanism, which enables credit institutions to efficiently recover value from the collateral pledged in secured business loans out-of-court. The contractual agreement on the voluntary use of this debt recovery mechanism shall constitute a directly enforceable title and collateral enforcement shall be expedited, under specific formalistic conditions. However, certain legal aspects of the proposed enforcement procedure are being questioned. The analysis of the extrajudicial enforcement framework highlights its deficiencies and the dangers it entails, particularly with respect to its potentially detrimental effects on debtors’ interests. Since the proposed mechanism appears greatly disruptive to the existing ‘traditional’ collateral enforcement procedures, its consistency with national pre-insolvency and insolvency proceedings and the Financial Collateral Directive is being discussed in this paper. Concluding remarks summarise the author’s opinion on the future of collateral enforcement of NPLs in Europe.
en
heal.advisorName
Keijser, Thomas
en
heal.committeeMemberName
Dimopoulos, Angelos
en
heal.committeeMemberName
Rodríguez De Las Heras Ballell, Teresa
en
heal.academicPublisher
IHU
en
heal.academicPublisherID
ihu
en_US


This item appears in the following Collection(s)

Show simple item record

Related Items