Mar 18, 2020 By Popa & Associates
Moldovan state banking regulators issued only statements instructing financial institutions how to work with clients impacted by COVID-19/coronavirus and avoid contamination but nothing about:
how to get ready for potential events of default?
Several industries in the country are experiencing disruption that may affect their ability to comply with loan covenants and even affect their ability to make timely loan payments.
The message regulators must send that banks should not strictly enforce loan obligations if a borrower is impacted by coronavirus.
Banking & Finance Team:
Igor POPA – Senior Partner, LL.M. Finance (ILF- Goethe University, Frankfurt am Main)
Feiyi Sun – Associate Lawyer
77 Vlaicu Pircalab street,
Chisinau, Moldova, MD-2012,
Reception: (+373 22) 22-40-11
Fax: (+373 22) 22-27-66
Mobile:(+373 ) 69999920