Adopted Law «On Financial restructuring» has opportunity to became as basis for efficient collaboration between Borrowers, Lenders, Deposit Guarantee Fund, tax authorities – Diana Golanova, Legal Department Director Piraeus Bank ICB.

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Adopted Law «On Financial restructuring» has opportunity to became as basis for efficient collaboration between Borrowers, Lenders, Deposit Guarantee Fund, tax authorities – Diana Golanova, Legal Department Director Piraeus Bank ICB.

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Adopted Law «On Financial restructuring» has opportunity to became as basis for efficient collaboration between Borrowers, Lenders, Deposit Guarantee Fund, tax authorities – Diana Golanova, Legal Department Director Piraeus Bank ICB.

12 April 2017

Bankruptcy is a natural mechanism of the economy restructuring, at the same time at the period of the economic recession numerous bankruptcies can not be prioritized tool since total liquidation of the numerous enterprises will not help to the economy in general and for the banking sector restoration in particular. Adopted Law «On Financial restructuring» has opportunity to became basis for collaboration between Borrowers, Lenders, Deposit Guarantee Fund, tax authorities.

One of the main objective of the law is to save operating business what will naturally lead for the losses exclusion in case of the bankruptcy, liquidation of the business.In EU countries such approach has obtained wide implementation, for such purposes serves also London approach and ISOLT principles. New law “On Financial restructuring” allows applying for the Ukrainian borrowers wide spectrum of the tools which includes not only standard approach for restructuring, but also debt to equity swaps, new investments involving, issuing of the securities, borrower reorganization, changing of the corporate structure of the borrower.

Financial restructuring can be one of the efficient way to resolve one of the most important problem on bunking system - NPL portfolios settlement which will lead lending renewal, business restoration and development.

Adopted Law «On Financial restructuring» has opportunity to became as basis for efficient collaboration between Borrowers, Lenders, Deposit Guarantee Fund, tax authorities – Diana Golanova, Legal Department Director Piraeus Bank ICB.

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