Restructuring and insolvency in Greece

Bernitsas Law

Bernitsas Law has an excellent team that is favoured by debtors and creditors.  Recently, it advised doBank on the establishment of a ground-breaking servicing platform for managing the the exposure of the four systemic banks to non-performing loans lent to SMEs. The firm also advised Cyprus Popular Bank on its divestment strategy, including the respective sales of Marfin Bank's Serbian, Ukrainian and Romanian businesses. Lambros Belessis and Athanasia Tsene jointly the team.

Karatzas & Partners

Karatzas & Partners is one of Greece's market leaders for complex restructurings, both for creditors and debtors. Recently, the firm advised the lenders on the restructuring of the Corinth-Tripoli-Kalamata-Sparti Highway concessionaire's debt. It also advised the senior bondholders on Frigoglass's restructuring. On the non-performing loans side, the team advised Bain Capital Credit on purchasing corporate credit exposures secured with €1.95bn of real estate collateral. Vassiliki Salaka's team also benefits from the expertise of Alexandros Metallinos and Christina Faitakis.

Koutalidis Law Firm

Koutalidis Law Firm is a popular firm for the most complex corporate restructurings and insolvencies, in which it regularly represents creditors and debtors. Notably it advised the banks on the Frigoglass restructuring. Nikos Salakas is a key contact.

Norton Rose Fulbright

Norton Rose Fulbright acts for an impressive range of major banks and corporates. Practice head Yianni Cheilas and Vassilis Koroxenidis are highly recommended.

PotamitisVekris Law Firm

PotamitisVekris Law Firm is one of the leading restructuring and insolvency advisers in the market. Recently, the firm advised all four Greek systemic banks as lenders on the restructuring and pre-pack sale of oil storage and wholesale business Mamidoil Jetoil. The team is also advising the Hellenic Financial Stability Fund on impediments to the legal framework for the operation of NPL market. Other clients include PwC, Bank of Cyprus, EBRD and DIAS Aquaculture. Stathis Potamitis and George Bersis are key lawyers in the practice.

Alexiou & Kosmopoulos Law Firm

Alexiou & Kosmopoulos Law Firm has a very active team with a strong background in this area, particularly matters with a heavy real estate element. Recently the firm advised the four Greek systemic banks on the €355m restructuring of a major food and drinks group. The firm also represented Piraeus Bank and the Greek government in proceedings to have the Skaramanga shipyards placed under special administration as part of its €1bn restructuring. Alexandros Kosmopoulos and Constantine Alexiou are highly regarded.

Kyriakides Georgopoulos Law Firm

Kyriakides Georgopoulos Law Firm has been acting on some of Greece's most significant corporate restructurings and refinancings. Most recently it guided Frigoglass Group on its €330m debt refinancing and €130m recapitalisation. The firm also regularly represents creditors. The highly-experienced Konstantinos Issaias leads the group.


Sarantitis continues to advise the Maillis Group of Companies on its restructuring, which involved moving its group holding to Luxembourg. The team also advised Powerbrook and Club Hotel Loutraki on the restructuring of their casino business through a pre-pack procedure. Dorotheos Samoladas and disputes partner Gregory Vlachos are recommended.

Zepos & Yannopoulos

Zepos & Yannopoulos offers strong experience across a range of related areas, including non-performing loans, in which it has represented leading banks, and insolvency proceedings. The firm recently advised Piraeus Bank on the sale of a securitised package of NPLs to Bain Capital. Emmanuel Mastromanolis is highly experienced in this area.