The individual government guarantee scheme (Bankpakke II) might expire this summer

Date 25 aug. 2008

On 15 February 2010, Financial Stability published an announcement declaring that the European Commission has approved an extension of the individual government guarantee scheme until 30 June 2010.


Initially, the guarantee was planned to include loans that are issued no later than 31 December 2010. After the new approval from the Commission, it is doubtful whether the individual government guarantee scheme will be approven for application until 31 December 2010.


On their homepage, Financial Stability writes that they encourage credit institutions, which have not applied yet to apply or as a minimum declare that they plan to apply as soon as possibly and not later than 8 March 2010.


It is important to notice that guarantees already issued are not affected by the Commissions approval.


A decision declaring whether the scheme continues after 30 June 2010 is expected in June 2010.


If you have questions regarding the above or require additional information about the individual government guarantee scheme, please contact attorney Claus Molbech Bendtsen (cmb@mwblaw.dk).


The above does not constitute legal counseling and Moalem Weitemeyer Bendtsen does not warrant the accuracy of the information. With the above text, Moalem Weitemeyer Bendtsen has not assumed responsibility of any kind as a consequence of a reader’s use of the above as a basis of decisions of considerations.