Publications - Banking and Finance
New Financial Shield 2.0 of the Polish Development Fund
The president has just signed a new Financial Shield to help entrepreneurs most affected by the second wave of the SARS-CoV-2 pandemic. The call for electronic applications is planned for the second half of January 2021. The amount of aid planned is…
Cross-border bank mergers in Europe (and III): Approvals and transactions in stages
Las fusiones bancarias transfronterizas han vuelto a estar de actualidad en la Unión Europea, animadas por los propios supervisores. En este tercer y último artículo de la serie analizamos el régimen de autorizaciones, el carácter probablemente…
Cross-border bank mergers in Europe (II): The unique peculiar features of the law in each country
Keeping our legal sight on the obstacles or difficulties for cross-border mergers which we started looking at in the previous article in this series, we cannot overlook that the laws of every state retain their own peculiar characteristics, a…
Cross-border bank mergers in Europe (I): Why are they not here yet?
There has been much talk about cross-border bank mergers in Europe, but so far none have happened or appear to be imminent. A few years ago Garrigues recommended that banks watch out for them in the future. Now the European supervisors are…
Renewal of the Sepblac’s Management: nature and functions
On October 30, the change within the management of the Sepblac was formalized. The previous head, who held said office since 2013, Juan Manuel Vega, has been replaced by the former deputy director of the Bank of Spain’s General Directorate of…
NPLs: Portfolio deals will increase due to COVID-19
In the wave of the COVID-19 pandemic, there has been a significant increase in debt held by both consumers and companies. Over the coming years, we expect to see a large number of debt and distressed asset deals. In this viewpoint, Garrigues…
Financing of startups in times of COVID-19: what public aid are they eligible for in Portugal?
In the current situation, obtaining finance can be key for many startups, both to cover cash needs and to be able to implement new growth projects. Therefore, it is essential to identify the public or private aid which is available to entrepreneurs…
Startups and debt (I): Overdependence on equity rounds. Reasons and setbacks
Searching for additional financing routes, in the form of debt rather than equity, could benefit startup founders by curtailing their dilution in equity rounds and also have other advantages for the companies themselves. This would contribute to…
Shield 4.0 as the last part of the economic protection system during a pandemic
On May 20, 2020, the Polish government adopted the fourth and final package of anti-crisis solutions known as "Shield 4.0".
COVID-19 Special Newsletter - Spain | Week between May 11 and May 17
Phase 1 of the ‘scaling-down’ process, third tranche of guarantees, extension of ERTE temporary layoffs, potential delay in the application of VAT directives and of DAC6, and measures to support the cultural sector
The Financial Shield of the Polish Development Fund
The Financial Shield of the Polish Development Fund is a solution aimed at supporting enterprises which have suffered losses as a result of the coronavirus epidemic.
The Polish Act on counteracting COVID-19 entered into force
On 31 March, 2020 an amendment to the Act on specific solutions related to the preventing, counteracting and combating COVID-19, other infectious diseases and crisis situations caused by them, together with other acts (the “Act”) entered…