The impact of the NPL directive in Germany with W&C’s Dennis Heuer

Dennis Heuer, partner at White & Case, joins Debtwire’s Johannes Koch to explore the impact of the Secondary Credit Markets Act (Kreditzweitmarktgesetz) on the market for non-performing loans.The act, or NPL-directive for short, was introduced just over a year ago in Germany to help foster a deeper and more liquid secondary market for non-performing loans. Now that the dust has settled on its introduction, Heuer reviews the basic tenants of the law, how it has impacted market participants and ultimately, gives us a view on whether it has delivered, or has yet to deliver, on its promise.Heuer is a partner at White & Case and an expert in structured finance and securitisation within the law firm’s EMEA Structured Finance Group. He represents clients, among them banks, insurance companies, debt collectors and multinational corporates on a wide range of cross-border transactional and advisory matters.