Papapolitis & Papapolitis has advised BlackRock Solutions in its assessment of the loan portfolios of a select group of Greek commercial banks following BlackRock’s engagement by the Bank of Greece.
In a Memorandum of Understanding entered into by the European Commission, the European Central Bank, the International Monetary Fund (collectively known as the “Troika") and Greece, it was mutually agreed that a diagnostic assessment would be completed by the end of 2013.
According to Papapolitis & Papapolitis the assessment consisted of four work-streams: Asset Quality Review, Credit Loss Projections, Troubled Asset Review, and Foreign Loan Books Review."
The P&P team was led by Nicholas Papapolitis, and included Banking Partner Nikolaos Katsaros, Dispute Resolution Partner George Gravias, and Associates Katerina Dalamara, Sophia Mavridou and Sergios Manarakis.