In accordance to its last bailout package, Greece has had to put laws in place that make it easier to restructure or reclaim assets to get rid of defaulted financial loans more quickly; something in which foreign investors are very much involved.
According to wsj.com, a source says that Amanda Staveley’s PCP Capital Partners LLP is interested in buying up Greek banks’ non-performing loans and that Staveley already has a management team in place in Greece that will work with a local group to collect or restructure debts and financial obligations.
The source said that the investment banking and financial advisory services firm is looking at cleaning up some 110 billion euros worth of loans by aiming to administer a recapitalization of Pancretan Cooperative Bank.
There have been no announcements by the Pancretan Cooperative Bank regarding this matter.
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