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COVID-19: New law to prescribe moratorium, mandatory reduction of default interest and changes to insolvency law

A new bill currently being debated by the Austrian parliament is set to introduce a variety of amendments to Austrian law, ranging from a moratorium on consumer/microenterprise loans, to a mandatory reduction of default interest, to certain changes in insolvency law. It may also – at least for now – do away with the requirement for physical meetings with notaries.

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