TELLES has just successfully completed seven PER (Special Revitalisation Processes - an alternative judicial instrument to insolvency) on behalf of Parvalorem, the company that manages BPN's non-performing assets.
As part of the seven PER processes, several properties were transferred in lieu of payment for loans granted by the former BPN to the group's companies responsible for the construction of the Albufeira Marina and its real estate complex, among other debts, enabling Parvalorem to obtain a cash inflow of €51 million.
This is Parvalorem's largest debt recovery operation and it enabled Parvalorem to close 2024 with the highest amount of debt recovery ever. The process was completed in a record time of around five months under the special regime.
The TELLES team involved in this operation was André Navarro de Noronha, partner and head of the Litigation and Arbitration practice of TELLES, and Maria João Meireles, managing associate of the Business Recovery and Insolvency practice, who acted for Parvalorem as creditor, in negotiating the terms of the PER - of which Parvalorem was one of the signatories - and in drafting the contractual instruments to implement the operation, including the Global Agreement, the Deeds of Gift, the Deeds of Mortgage Reduction, the Share Pledge Agreements and the respective registrations.
Terms and Conditions | Privacy Policy | Cookie Policy | Cookie Settings | Copyright © 2018 - 2025 TELLES. All rights reserved. Created by SOFTWAY.