Karanovic & Partners attended the World Services Group banking and finance webinar on COVID-19 impact and strategies in Europe on 23 June 2020. Partner Maja Jovančević Šetka* spoke about the situation in the banking and finance area in the SEE and the consequences brought on by the pandemic.
The webinar, moderated by Lukasz Szegda, Partner of Wardynski & Partners, was attended by dozens of lawyers from law firms from Europe, all of whom shared different firm and country viewpoints on the impact and strategies amid the pandemic.
The speakers reflected upon the impact on the amount and type of finance work, whether they observed banks tightening their credit policies in their respective jurisdictions, and what types of financing are expected in the nearest future. Furthermore, the speakers shared their view on the most active types of lenders and the situation in the, particularly affected industries.
Part of the discussion focused on a possible wave of restructuring work in Q4 2020 and 2021, the impact on the NPL market, and the activity of distressed investors. Apart from that, the webinar covered the new COVID-19-related regulations and recommendations for financial institutions by the ECB, central banks, and financial regulators.