40 results found

In bank guarantee agreements, guarantors customarily waive the benefit of Article 862 of the Greek Civil Code (defense of release). However, the right to invoke the defense of release remains intact...

Summary: The most common cases in which a debtor is brought back to court. When they are justified, what happens in courtrooms, and the critical criterion of "honesty."

The action for fraudulent conveyance of creditors (Paulian action – Articles 939 et seq. of the Greek Civil Code) aims to safeguard the creditor's ability to satisfy...

Last week, Greece repaid a €750m loan to the International Monetary Fund (IMF), ending weeks of uncertainty over whether it would become the first developed economy to default on a loan from the IMF.

The out-of-court debt settlement mechanism under Law 4738/2020 has proven to be an extremely useful tool, especially for the settlement of debts to the State and Social Security Funds, as it allows debt settlements...

The most important innovation of the new bankruptcy law under the new law. 4738/2020 is the automatic discharge of the bankrupt from his debts after the expiration of the specified period of time...

Abstract: In a previous article (see here), we discussed how a debtor who does not wish to be declared bankrupt can defend himself against a petition filed by one of his creditors by claiming that the petition.

In this article we examine which debts appear to constitute exceptions to the rule of discharge in bankruptcy. In other words, which debts the bankrupt does not shed even after the lapse of three years...

The long discussed bill regarding extrajudicial debts' settlement has been enacted by the Greek legislator on May 3, 2017.

Financial circumstances may force a debtor to apply to the Bankruptcy Court for a declaration of bankruptcy, especially if the debtor is generally and permanently unable to meet its due obligations.

Law 4738/2020 introduces critical mechanisms for debt restructuring in Greece, fundamentally transforming how debtors can recover tax and social security clearance certificates. The regulatory framework presents two distinct pathways—the Out-of-Court Debt Settlement Mechanism and the Rehabilitation Agreement—each offering different advantages for unlocking transactional capacities and ensuring business viability through varying withholding requirements and clearance certificate provisions.

The few years of existence of the Electronic Insolvency Registry, frequent legislative interventions, technical weaknesses of the platform, combined with the small number of decisions issued so far...

One of the most critical consequences of a company being declared bankrupt or being registered in the Electronic Insolvency Registry (EIR)...

Formalities. In order to create an enforceable debt obligation of the obligor to the seller: (a) is it necessary that the sales of goods or services are evidenced by a formal receivables contract; (b) are invoices alone sufficient; and ...

Φυσικό πρόσωπο ενέχεται με υψηλές οφειλές σε Τράπεζες, προμηθευτές...

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