Insolvency Law

The impact of the financial crisis and recently the pandemic have highlighted the usefulness of Insolvency law as a “therapeutic” tool for the economy. Greece has a leading position in non-performing loans within the European Union. The amplification of insolvency in the economy has now become an individual social problem. For the past fifteen years, the national legislature has attempted to regulate bankruptcy proceedings with multiple pieces of legislation, some more, others less successful. The most recent act 4738/2020 consolidates bankruptcy proceedings into a single piece of legislation and its effectiveness is one of the most pressing challenges for the future.

Whether it is simple cases of rescuing the principal residence, or insolvent companies, our office has gained extensive experience in managing bankruptcy cases. We have set up an organized network of specialized partners and we have succeeded in anticipating the developments of the new Insolvency Law. Our orientation is to exhaust the possibilities of consolidation of potentially profitable companies, utilizing the benefits offered by the law, so that the over-indebted persons go out of the margins and re-join the economy, under conditions of normality and security. On the other hand, it is our insurmountable duty to protect our principals from abusive tactics manifested by debt collectors.