Distressed Asset Transactions & Non-Performing Loans (NPLs), Debt management

  • Nominated Representative of Cyprus Bar Association (CBA) at the House of Representatives Parliament (Finance Budgetary Committee; Team Leader of CBA at ad-hoc Government/Parliament/Professional Licenced Supervisory Committee(2015-2020) on redrafting; amending, developing new legislation (loans sale), providing EU Regulatory Guidance on insolvency, resolution, sale asset backed loans; loan restructuring resolution, NPLs management schemes and financial sector recapitalisation (State Aid Legislative Considerations)(2015 - 2021).
  • Acting for the Lender & Sponsors: Loan (Credit, Mezzanine, Credit Facilities, Demand, Termination Notifications, Debt Management Schemes; developing terms and procedures for Loan Debt Settlement Agreements, Sale, Exchange Purchase Agreements on Property, Equity, NPLs Restructuring Terms and Conditions (i.e., real estate/third party collateral release), Template Forms, undertaking Loan Portfolio legal due diligence (securities/ rankings/ real estate ownership validation).
  • Project NPLs portfolio disposal to a Private Equity Fund of gross book value €4.7 billion (framework agreements, schemes of arrangement, regulatory reporting) (2018 - 2020) (Helix 1 & Helix 2).
  • Restructuring of Borrower portfolio of pool credit facilities including part settlement by way of debt–to-asset arrangements with the acquisition (2) hotels joint value €23 million (2018).
  • Restructuring credit facilities and securities arrangements of an auto retail debtor loan portfolio value €35 million; Phase 1: Restructuring (2015), Phase 2 (2017): Partial debt management and settlement, debt-to- asset (disposal real estate assets and securities-equity) arrangements.
  • Restructuring Holy Archbishops (Church of Cyprus) debt facilities financing (NPLs): aggregate value €234m (Hellenic Bank, B (2015-2018).
  • Restructuring Credit Facilities (group structure) loan and collateral portfolio value €115 million- CTC/Woolworth Properties (2017-2020).
  • Debt Settlement Arrangements Scheme; developing and legal monitoring of 5-year rollover repayment schedule through Court Order statutory litigation proceedings; embedding partial asset realisation by way of real estate acquisition of value €5 million (2017 - 2020).
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