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On 24 March 2023, a bill aiming, inter alia, at transposing Directive (EU) 2021/2167 on credit servicers and credit purchasers ("NPL Directive") into Luxembourg law ("Bill") was submitted to the Luxembourg Parliament. The Bill purports to create a legal framework for the transfer of non-performing loan agreements ("NPL") and a new category of professionals of the financial sector ("PFS"), the credit servicers.
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