07 OPPORTUNITY PLAN (SEPTEMBER 2013)
A program designed for SMEs in order to facilitate their bail-out with view to considerable debt forgiveness.
There are 90.500 assets in shape of credits and loans, out of which 95% correspond to SMEs, juxtaposed with the 5% of large companies´ debt. The debt cancellation could be applied only when credit volume does not exceed 100% of the debt but indeed is higher than the paid-off amount. The part forgiven could form up to 45% of the original debt, that would still provide some benefit to SAREB.
SAREB would weight up case by case, deciding upon the percentage of the debt to be cancelled. This way, it seems clear that only the operations that bring benefits to SAREB will be approved. Also, other possibilities were explored and offered, like for example returning the stated money with a single payment.
Closing date was December 2013.