Auctions avoided with advance payment of 10% of debt
A new boost is expected for the out-of-court mechanism for debt settlement, after the improvement regulations incorporated in the new law passed on Tuesday by Parliament.
An amendment provides that creditors are given the possibility to request an advance payment of up to 10% of the debt, as shown by the calculation tool of the extrajudicial mechanism.
This option concerns debtors for whom an auction timetable has been issued, as long as they do not belong to the vulnerable category and for whom a relevant certificate has been issued.
This is expected to help the conclusion of more deals before auctions, but also their observance by debtors.
