In Europe, the widespread availability of credit over the past decade fuelled a significant increase in lending across all asset classes. However, and as a result of the financial crisis, a number of European governments were forced to undertake significant austerity measures, in their efforts to eliminate their budget deficits.
Consequently, the ability of both consumers and corporates to repay their debts was hampered and the number of non performing loans (“NPLs”) and Real Estate Owned (“REOs”) increased significantly.
In the specific case of Portugal, the country has experienced record years in terms of NPL and REO sales, and this market continues to show signs of growth.
How can we help?
Given our extensive experience in NPL and REO driven deals - PwC Portugal was the tax advisor for the largest NPL/ REO transactions in recent years - we often support investors in NPL/ REO-related transactions (i.e. portfolio acquisitions). We work globally and locally, with the support of an experienced
PwC network, which provides you with a comprehensive view of the local and/or national specifics pertaining to NPLs and REOs (e.g., seller interests, acquisition structures, tax regimes, accounting rules).
This allows us to help you comprehensively when engaging in NPL and REO transactions, which can be complex with respect to legal and tax questions.
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