In the last years, Greek society was going through a constant economical crisis which stroke millions of citizens, leading the majority of individuals and businesses to become unable to fulfill their financial obligations.
New measures and laws were introduced in the Greek legal system, in order to confront these problems. Many articles of the bankruptcy law and almost the whole procedure of bankruptcy was changed, mainly at the suggestion of the EU and the IMF.
The first insertion came in 2010, (Law 2369/2010) with the legislation about the so-called “Indebted households”, which implemented for the first time in the country the statute of individual bankruptcy. This specific law has already been amended five times until now (L.3996/2011, L.4161/2013, L.4336/2015, L.4346/2015, L.4469/2017, L.4605/2019).
On the other hand, the “Bankruptcy law for businesses” had also several major changes over the last ten years (L.3808/2009, L.3863/2010, L.2013/2011, and most recently L.4446/2016), creating new conditions in the economy.
The complexity and the extent of both these laws, is clearly unprecedented in the Greek legal system. Most of the times, neither individuals nor businesses are capable of dealing with the problems that arise from this situation, since the legislation of bankruptcy is very strict but also too complex and difficult for simple persons to be accessible. Thus, the contribution and the assistance of specialized lawyers is clearly more than important.
Our office, following the needs of society, had and continues to have an active role in these procedures. Our experience and the wide network of partners can guarantee a complete and successful legal counseling and representation regarding your case.