April 2018
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International Correspondents
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Sponsored by Maples GroupThe Irish parliament is debating a bill which, if passed, would regulate the owners of Irish loan portfolios. The proposed legislation – the Consumer Protection (Regulation of Credit Servicing Firms) [Amendment] Bill 2018 (the Bill) is understood to have been triggered by reports of intended loan sales by particular retail banks in Ireland. Since 2015, non-regulated owners of loan portfolios comprising loans to consumers and small and medium-sized enterprises (SMEs) have been required to appoint a regulated credit servicer to manage the portfolio. This was to ensure that consumers and SMEs would continue to enjoy their statutory customer protection even though their creditor was unregulated. Broadly, this ensured consumers and SMEs were in the same position as if facing a regulated retail bank. However, in some political circles this regime has been perceived as providing insufficient protection to borrowers. -
Sponsored by CuatrecasasIn July 2017, the Spanish government announced the Extraordinary Road Investment Plan (Plan Extraordinario de Inversión en Carreteras or PIC). This plan involves investing €5 billion ($6.2 billion) to construct 2,000 km of highways over a four-year period (2017 to 2021).
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Sponsored by Prager DreifussThere are different forms and treatments of subordination agreements in Swiss insolvency. This article is inspired by the authors’ experience representing the security agent of $1.75 billion bond issue of a Swiss based oil refinery group
