Expectations of a surge in non-performing loans in Italy have failed to materialize, with the country’s banking system and economy holding firm in the face of macroeconomic volatility - Despite annual inflation still...more
In data 21 ottobre 2022 è stata pubblicata la comunicazione della Commissione Europea del 21 ottobre 2022 concernente gli orientamenti relativi alla procedura di vendita alle condizioni migliori di crediti deteriorati sui...more
What does the future hold for NPLs? There's still plenty of business to be done, but buyers and sellers alike will need to change tack to get the most from the available opportunities....more
Italian tax authorities address for the first time the VAT regime applicable to the assignment of NPLs. On the very last day of 2021 the Italian Revenue Agency issued a remarkable ruling (no. 79/E) on the VAT regime...more
As part of our periodic updates, here is an overview of recent developments of relevance to participants in the real estate finance market across certain key jurisdictions in Europe....more
The Situation: In the last years the Italian legislature reformed the Italian securitization law to foster investments in NPLs/UTPs by Italian and foreign professional investors. A recently approved law decree provides for...more
The avalanche of bad loans that has hit Italy in recent years has drawn attention on the inefficiency of the judicial debt collection system, one of the leading causes of the banking crisis and the low prices that the banks...more
La valanga di crediti bancari incagliati (per non dire in sofferenza) che si è abbattuta sul nostro Paese negli ultimi anni ha acceso il faro sull'inefficienza del sistema giudiziario di recupero dei crediti che è una delle...more
This booklet aims to provide an updated framework of the European NPLs market, presenting the last provisions entered into force, together with some papers of national and European Authorities and some observations of our...more
On June 15, 2017, the Italian Parliament approved the Conversion Law of Decree no. 50 of April 25, 2017 ("Conversion Law"). The Conversion Law includes a review of the legal framework applicable to Italian securitization...more
This Chapter, through a legal analysis of the new legislation changes that recently occurred in Italy and the main enforcement procedures and best practices seen in the Italian Market as utilised by international lenders,...more
Decree of the Ministry of Economy and Finance containing implementing provisions (the "Implementing Decree") for State guarantees for securitisations of non-performing loans (Garanzia Statale sulla Cartolarizzazione delle...more
On 10 February 2016, decree no. 18/2016 (the "Decree") was passed which, following the agreement reached with the EU late last month, sets out the details of the Italian government guarantee scheme for senior tranches of...more