Changes to foreclosures, insolvency laws on the way, Georgiades says

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Changes to foreclosures, insolvency laws on the...
 © CyprusMail 2018
The government is in the process of preparing proposals to improve the insolvency and foreclosure laws in a bid to tackle non-performing loans, Finance Minister Harris Georgiades said on Tuesday, especially those in the state-owned co-op bank, which is the process of being sold and possibly split in two parts.

Speaking at the 8 th Nicosia Economic Congress, the minister said that depending on investor interest in the co-op bank the government planned to set up a loan management body to handle its non-performing loans.

The terms will be set by the European...


This article was automatically added to our system 17-4-2018

Changes to foreclosures, insolvency laws on the way, Georgiades says


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Article Tags: changes, foreclosures, insolvency, georgiades,

 

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