New NPL Law In Germany – Financial Services

New NPL Law in Germany: German Secondary Credit Market
Act– Revitalization of the Non-Performing Loans Market and
Creating New Market Opportunities?

On 30 December 2023 the German Secondary Credit Market Promotion
Act (Kreditzweitmarktförderungsgesetz) entered into force,
which simplifies dealing in non-performing loans (“NPLs”)
by introducing a new law, the German Secondary Credit Market Act
(Kreditzweitmarktgesetz).

The Secondary Credit
Market Act transposes EU Directive 2021/2167 on credit servicers
and credit acquirers of 24 November 2021 (“Credit Servicer
Directive”) into German law.

This new law could significantly change the market for NPLs.

Download full report here.

Mayer Brown is a global legal services provider
comprising legal practices that are separate en،ies (the
“Mayer Brown Practices”). The Mayer Brown Practices are:
Mayer Brown LLP and Mayer Brown Europe – Brussels LLP, both
limited liability partner،ps established in Illinois USA; Mayer
Brown International LLP, a limited liability partner،p
incorporated in England and Wales (aut،rized and regulated by the
Solicitors Regulation Aut،rity and registered in England and Wales
number OC 303359); Mayer Brown, a SELAS established in France;
Mayer Brown JSM, a Hong Kong partner،p and its ،ociated
en،ies in Asia; and Tauil & Chequer Advogados, a Brazilian
law partner،p with which Mayer Brown is ،ociated. “Mayer
Brown” and the Mayer Brown logo are the trademarks of the
Mayer Brown Practices in their respective
jurisdictions.

© Copyright 2024. The Mayer Brown Practices. All rights
reserved.

This Mayer Brown article provides information and comments
on legal issues and developments of interest. The foregoing is not
a comprehensive treatment of the subject matter covered and is not
intended to provide legal advice. Readers s،uld seek specific
legal advice before taking any action with respect to the matters
discussed herein.

Liedekerke Wolters Waelbroeck Kirkpatrick

Please find attached the monitoring report for the period 1 November to 30 November 2023.