MILAN: New NPL law is a silver lining in the storm clouds

The IBA Insolvency Section's 22nd annual global insolvency and restructuring conference opened with both figurative and literal storm clouds overhead, as speakers gave an update on the state of insolvency law and creditors' rights in Greece, to a backdrop of thunder. There was one silver lining on the horizon, however: a series of legal changes to liberalise the market for non-performing loans.