On 24 March 2023, a bill aiming, inter alia, at transposing Directive (EU) 2021/2167 on credit servicers and credit purchasers ("NPL Directive") into Luxembourg law ("Bill") was submitted to the Luxembourg Parliament. The Bill purports to create a legal framework for the transfer of non-performing loan agreements ("NPL") and a new category of professionals of the financial sector ("PFS"), the credit servicers.
For more information, please read here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
