Completion of the transfer of management of the "Pillar" portfolio
The special purpose company named "Pillar Finance Designated Activity Company," based in Dublin, Ireland (hereinafter referred to as "Pillar Finance DAC"), has announced the completion of the transfer of the "Pillar" portfolio to the company named "QQuant Master Servicer Single Member Anonymous Company for Loan and Credit Claims Management," following the initial assignment of its management to the company named "Do Value Greece Single Member Anonymous Company for Loan and Credit Claims Management."
This portfolio includes loan and credit receivables (guarantees and real estate collateral). Relevant registrations were made before the Athens Stock Exchange. The appointment of QQuant as the manager of the "Pillar" portfolio, replacing Do Value, will be effective from the registration date of the respective management agreement in the Public Registry of the Athens Stock Exchange, which will be May 15, 2023.
Pillar Finance DAC acquired this portfolio from the anonymous company "Eurobank Ergasias S.A. " by the applicable provisions for securitising corporate claims (Law 3156/2003).
The "Pillar" portfolio transfer constitutes one of the largest portfolio transfers in the secondary market in recent months. With the completion of this transaction, QQuant strengthens its leading position in the domestic market of independent managers.
QQuant Master Servicer Servicing of Loans and Credits Single Member S.A. (‘Quant’) is an independent servicer of non-performing loans granted by Greek banks and financial institutions to individuals and enterprises in Greece. Quant is licensed by the Bank of Greece according to Greek law 4354/2015 as stipulated in the Executive Committee Act 118/19.5.2017.