COVID-19
New Banking and Financial Leasing Moratorium in Serbia
Author: Jelena Malesevic, BDK Advokati
Obligations subject to the moratorium
Less than a month after the expiry of the first COVID-19-related moratorium on corporate and retail debt, to Serbian banks and financial leasing companies, the National Bank of Serbia has imposed a new moratorium on payment obligations owed to banks under banking products (such as loans, overdrafts, credit cards, hedge instruments such as interest rate swaps, and bank guarantees) and financial leasing companies.
The moratorium does not apply to payment obligations arising under banking services such as payment…
COVID-19 Related Payment Moratorium on Financings in Bulgaria
The COVID-19 pandemic has multiple effects on the economy. Many businesses struggle to survive and are or may become unable to service their bank debt in the same way as they did before the outbreak of the pandemic. Governments and central banks around the world are imposing various emergency measures and taking actions to support the economy, the business and households in this emergency situation.
Slovenian Mandatory Moratorium on Bank Loans
On 20 March 2020 the Slovenian Parliament adopted an emergency law (Zakon o interventnem ukrepu odloga plačila obveznosti kreditojemalcev - ZIUOPOK) concerning mandatory moratoriums to be approved by Slovenian banks to Slovenian borrowers at their request, with a view of preventing substantial damage to the economy and maintaining financial stability.
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SELIH & PARTNERJI Law Firm assisted Don Don as the borrower as well as one of its shareholders KJK Fund II. Mia Kalas, partner and head of the firm’s Banking & Finance practice, led the transaction, with the assistance of senior associate Nika Bosnic.
