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July/August 2018


International Correspondents


Tax Relief

Special Features

News Analysis




  • Sponsored by Cuatrecasas
    Spain remains one of the largest European markets for non-performing assets – both for its non-performing loan (NPL) and real estate-owned (REO) portfolios – and is a preferred jurisdiction for international investors. The provisioning requirements of credit institutions for real estate exposures and the creation of the Spanish bad bank, Sareb, were the real catalysts for the change in mindset regarding the transfer of NPLs. All Spanish financial institutions, even the most solvent ones, accumulated large amounts of NPLs – around €300 billion ($347 billion) in total – during the real estate crisis and financial turmoil. All international credit funds and distressed investors landed in Spain several years ago and many of them set up their own asset management platforms. During those years, there was no other jurisdiction in continental Europe that could offer the opportunities and returns available in Spain (until recently, Italy).
  • Sponsored by Chandler MHM
    The eastern seaboard of Thailand has attracted substantial investment during the past 30 years, including into the petrochemicals, auto assembly and high-tech business sectors. The area is served by three airports and two deep-water ports. Both Thai and foreign companies have obtained investment incentives from the board of investment (BOI) under the Investment Promotion Act (1977).
  • Sponsored by Bär & Karrer
    Legal advisers to CEVA and one of its investors analyse structuring issues affecting the deal