The Sales Regulation (hereinafter referred to as “the Regulation”), as referred to in article 5 par. 5 subpar. b of the decision under no. 221/3/17.3.2017 of the Credit and Insurance Committee of the Bank of Greece, constitutes the framework for the preparation and sale of individual loan claims, loan portfolios as well as the liquidation of movable and real estate property owned by the Institutions Under Special Liquidation (hereinafter referred to as “IUSL’’).
The Regulation serves the prompt recovery of the liquidation value of such assets, as determined as a fair price under market conditions, as well as the avoidance of the cost of managing these assets within the Special Liquidation.
The primary axes of the Regulation are:
• The most appropriate selection of loan portfolios or individual loan claims for sale (hereinafter referred to as “assets under sale”)
• The duly preparation of the assets under sale in order to maximize the recoveries of the Special Liquidator from their disposal
• Ensuring transparency, conditions of fair competition and equal treatment of the participants in the sale procedure.
The subparagraphs of PQH’s Sales Regulation that refer to the sale of portfolios and individual loan claims, which the Special Liquidator publishes for transparency reasons are available here (in Greek only).