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White Paper

The first German “Bad Bank” will act as a special public-legal entity on the financial market.

15 March 2010
Mayer Brown White Paper
On December 11, 2009 the Financial Market Stabilization Authority (Bundesanstalt für Finanzmarktstabilisierung, FMSA) established the first German winding-up agency. It operates and is registered under the name “Erste Abwicklungsanstalt” (First Winding-Up Agency).
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