Bank account in arrears: Alarm sounded in commercial jurisdictions

It was predictable. The Covid-19 crisis, the stagnation of economic activity, as well as the international situation have led to an explosion of bad debts. According to the latest report from the central bank (Bank Al-Maghrib), the arrears would represent nearly 90 billion Dirhams (9 billion USD). At the judicial level, magistrates are sounding the alarm. “This new court season was marked by the explosion of procedures involving unpaid debts, in particular banking debts, and the realization of collaterals”, indicates a judge of the commercial chamber at the Casablanca Court of Appeals. According to him, cases have increased by 45% compared to the annual average in the Casablanca courts alone. “It is really mindboggling”, admits our source.