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BaFin orders moratorium on Greensill Bank AG

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BaFin orders moratorium on Greensill Bank AG

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has issued a ban today for Greensill Bank AG on disposals and payments as there is an imminent risk that the bank will become over-indebted. In addition, BaFin has ordered that the bank be closed for business with customers and prohibited it from accepting payments that are not intended for repaying debt to Greensill Bank AG (“moratorium”). BaFin’s measures are immediately enforceable but not yet final.

For further details, please see the press release of the BaFin dated 03.03.2021: Press Release