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All reports tagged with: "insolvency framework"

Cabinet approves NPL reduction bills

Four bills and regulations that will significantly improve the way non-performing loans (NPLs) are dealt with and provide for incentives, penalties and e-auctions were approved by the Cabinet on Thursday.

Foreclosure auction venues selected

A venue in each of the island’s districts has been selected where the auction of foreclosed properties will take place following a tender process by the Association of Cyprus Banks.

Insolvency action plan

Cyprus’ action plan for implementing the insolvency framework will soon be completed and is expected to be submitted to the troika of international lenders around the beginning of July.

Bankers against massive foreclosures

The main objective of the recent law of foreclosures is to bring clients to the negotiating table to restructure their loans according to senior bankers speaking at a round table discussion on Tuesday.

Insolvency helpline

Members of the public requiring information about the new insolvency laws may ask a question and leave their number by calling 22 460033; a telephone helpline set up by EVROKO, the European Party.

Waiting for the fat lady to sing

The ECB has yet to decide whether the foreclosures legislation passed by MPs earlier this month is sufficient to enable a review of the Cyprus Economic Adjustment Programme to be concluded.

Cypriot banks to benefit from foreclosure law

In its Credit Outlook, which assesses credit implications of current events, Moody’s Investors Service considers the implementation of the foreclosure law is credit positive for Cypriot banks.

Insolvency framework bills passed

After the usual shenanigans we’ve come to expect from opposition parties and endless debates, the five bills comprising the insolvency framework were passed by a plenary session of parliament earlier today.

Insolvency framework vote next week

The Cyprus News Agency has reported that a plenary session of parliament will convene next week to discuss and vote on the insolvency framework while President Anastasiades is in Athens.

Insolvency framework delayed again

The implementation of the five bills comprising the insolvency framework has been delayed again and will probably be put before the House plenum on April 16, before the Eurogroup meeting on April 23.

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