EBA NPL.Counterparty.Stage Reached in InsolvencyorRestructuring procedure
Contents
Definition of Counterparty / Stage Reached in Insolvency/Restructuring procedure
Counterparty.Stage Reached in Insolvency/Restructuring procedure: Stage Reached in Insolvency/Restructuring procedure
- EBA Field Index 3.08
- Documentation Entry 93
Description
The field type is Text, which allows for multiple selections of stages to be entered if applicable.
Field Characteristics
"Stage reached in insolvency/restructuring procedure" is an indication of how advanced the relevant procedure has become as a result of various legal steps in the legal procedure having been completed. The generic, standardised legal actions across countries are identified below. This is not an exhaustive list of legal actions and therefore the Institution should make a value judgement as to whether they should add any additional legal actions to the generic standardised legal action. The following choices are available:
- (a) A creditors committee has been formed
- (b) A moratorium against enforcement is in place
- (c) A restructuring plan has been proposed
- (d) A restructuring plan has been approved
- (e) A proof of claim has been filed
- (f) A bar date for claims has been issued
- (g) A notice of intention to sell secured assets has been given
- (h) A distribution has been made to secured creditors
- (i) A distribution has been made to unsecured creditors
- (j) A notice of the end of the procedure has been given
The field's importance for the Loan Tape is Critical.
The field belongs to the EBA NPL Counterparty Table.
The field applies to all of the 7 EBA NPL Asset Classes.
The field is applicable to all borrower types.
The field is Not Confidential
Disclaimer
- This text is generated automatically. Do not edit manually!
- This information is provided as is. Refer to the EBA NPL Template for pointers to definitive instructions
