Germany: The debt collectors
Those wishing to engage in the sale of non-performing loans will find themselves encountering a raft of legal and tax issues. Joerg Wulfken looks at an increasingly important area of activity for German banks
The sale of non-performing loans (NPLs) is becoming increasingly important to German banks in terms of the management and structuring of their massive non-performing loan portfolios. The market only began developing in 2003 and since then just a few initial transactions, either public or private, have been successfully closed. The market for NPLs available to potential investors is now estimated to be between € 300bn (£199.9bn) and € 400bn (£266.5bn).
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