The 2021 edition \u2013 one year after the start of the pandemic \u2013 was marked by confusion, by the Kr\u00edsis and, therefore, by choice and decision. The 2022 edition \u2013 with the ongoing health crisis and the resulting economic and social crisis \u2013 can be defined as Schmitt’s \u201cstate of exception\u201d (Ausnahmezustand), where ordinary rules are broken, changed, and given new and unexpected connotations.
\nNPEs originate from a state of emergency; we could say that \u2013 in varying degrees of intensity \u2013 UTPs and NPLs are ontologically emergency situations. The NPE issue itself exploded in 2015-2016, because of its macroeconomic impact (everyone remembers the \u20ac 349 billions hanging over Italian banks’ balance sheets) and gave rise to new market operators, that, over the years, have evolved considerably, as have the sector’s operations, while remaining within the scope of a state of emergency (to be distinguished from a state of exception).
\nThe viral pandemic forced us into a true and proper state of exception. Historically every society develops its specific methods to manage and hopefully overcome their existential crises that can seriously threaten the foundations of the society itself. From Mesopotamia (with the debt jubilee in 2400 BC in Ebla) to Israel (with the scapegoat ritual), and then ancient Greece (with the pharm\u00e1k\u014di ritual), human beings have invented social, economic and legal technologies to go back to a normal state that can guarantee social cohesion.
\nThe NPE sector is today facing new challenges, caused by the worsening of the economic (but also social) crisis. Will it be able to find its pharm\u00e1k\u014di<\/i>?
\nWe will discuss about old problems (which may have changed in nature) and new ones, but above all, we will talk about tried and tested solutions and opportunities. We will talk about this \u201cnew NPE world\u201d and its modern rituals: Alternative Investment Funds, new legislation on corporate crises, law firms with capital partners, new case law trends that impact on portfolio value \u2013 and then, more recently: the partial invalidity of omnibus guarantees \u2013 and then smart working, the end of moratoriums, NPE management, GACS, the role of women and men working in the NPE sector, the legal reform, the state of the real estate sector, the economic implications of the war in Ukraine (sharp rise in inflation, increases in the price of energy and other raw materials, increase in the cost of living, widespread increase in retail prices, decline in consumption and income crisis), etc. We will review the situation to understand where we are (and this would already be a big step forward). Who knows if, together, we will be able to understand where we will be in the future and, above all, how to get there.<\/p>\n","protected":false},"excerpt":{"rendered":"
Non-performing exposures, exceptional state, and pharm\u00e1k\u014di. NPL&UTP \u2013 2022 Edition The 2021 edition \u2013 one year after the start of the pandemic \u2013 was marked by confusion, by the Kr\u00edsis and, therefore, by choice and decision. The 2022 edition \u2013 with the ongoing health crisis and the resulting economic and social crisis \u2013 can be […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":28,"comment_status":"closed","ping_status":"closed","template":"homepage.php","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"event-year":[31],"class_list":["post-6224","page","type-page","status-publish","hentry","event-year-2022-en"],"acf":[],"yoast_head":"\n