{"id":145,"date":"2023-05-29T08:17:55","date_gmt":"2023-05-29T08:17:55","guid":{"rendered":"https:\/\/lawyersgreece.eu\/?p=145"},"modified":"2023-05-29T08:17:57","modified_gmt":"2023-05-29T08:17:57","slug":"bankruptcy-in-greece","status":"publish","type":"post","link":"https:\/\/lawyersgreece.eu\/bankruptcy-in-greece\/","title":{"rendered":"Bankruptcy Lawyers in Greece"},"content":{"rendered":"\n<p>The services of<strong>&nbsp;bankruptcy lawyers in Greece<\/strong>&nbsp;are necessary for persons or companies that are involved in a situation in which they can\u2019t repay their outstanding debts.&nbsp;<\/p>\n\n\n\n<p><strong>Bankruptcy in Greece<\/strong>&nbsp;is a sensible matter that will lead to court hearings where the court can establish a suitable financial plan.&nbsp;<\/p>\n\n\n\n<p>It is best to&nbsp;<a href=\"https:\/\/www.lawyersgreece.eu\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>address to our lawyers in Greece<\/strong><\/a>&nbsp;who are specialized in this particular area of expertise, also knowing, as a client, that the attorney will try to find the best financial solution to a specific scenario.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/lawyersgreece.eu\/bankruptcy-in-greece\/#what-legal-services-are-available-for-bankruptcy-in-greece\" title=\"What legal services are available for bankruptcy in Greece?&nbsp;\">What legal services are available for bankruptcy in Greece?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/lawyersgreece.eu\/bankruptcy-in-greece\/#what-are-the-bankruptcy-procedures-in-greece\" title=\"What are the bankruptcy procedures in Greece?&nbsp;\">What are the bankruptcy procedures in Greece?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/lawyersgreece.eu\/bankruptcy-in-greece\/#greece-bankrupts-%e2%80%93-recent-statistics\" title=\"Greece bankrupts \u2013 recent statistics&nbsp;\">Greece bankrupts \u2013 recent statistics&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/lawyersgreece.eu\/bankruptcy-in-greece\/#what-is-the-law-on-bankruptcy-in-greece\" title=\"What is the law on bankruptcy in Greece?&nbsp;\">What is the law on bankruptcy in Greece?&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-legal-services-are-available-for-bankruptcy-in-greece\"><\/span><strong>What legal services are available for bankruptcy in Greece?&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a href=\"https:\/\/www.lawyersgreece.eu\/about-us\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Our Greek law firm<\/strong><\/a>&nbsp;is able to offer assistance in numerous ways to both creditors and debtors.&nbsp;<strong>Bankruptcy proceedings<\/strong>&nbsp;can happen on a voluntarily basis, or it can be initiated by the wish of the creditors.&nbsp;<\/p>\n\n\n\n<p>Regardless of how this procedure is initiated,&nbsp;<strong>our bankruptcy lawyers in Greece<\/strong>&nbsp;can provide&nbsp;<a href=\"https:\/\/www.lawyersgreece.eu\/legal-services-in-greece\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>legal assistance<\/strong><\/a>&nbsp;on the following:<\/p>\n\n\n\n<ol>\n<li><strong>consumer bankruptcy;<\/strong><\/li>\n\n\n\n<li><strong>bankruptcy litigation;<\/strong><\/li>\n\n\n\n<li><strong>bankruptcy arbitration;<\/strong><\/li>\n\n\n\n<li>mediation;<\/li>\n\n\n\n<li><strong>bankruptcy procedures<\/strong>&nbsp;for companies.&nbsp;<\/li>\n<\/ol>\n\n\n\n<p>Our team is also specialized in:<\/p>\n\n\n\n<ol>\n<li><a href=\"https:\/\/www.lawyersgreece.eu\/insolvency-lawyers-in-greece\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>insolvency<\/strong><\/a>;<\/li>\n\n\n\n<li>creditors\u2019 rights;<\/li>\n\n\n\n<li>debt relief;<\/li>\n\n\n\n<li>creating a solvency plan;<\/li>\n\n\n\n<li>loans;<\/li>\n\n\n\n<li><strong>personal bankruptcy;<\/strong><\/li>\n\n\n\n<li>reorganization;<\/li>\n\n\n\n<li>restructuring.&nbsp;<\/li>\n<\/ol>\n\n\n\n<p>The latter 2 can be necessary when the<strong>&nbsp;Greece bankrupts<\/strong>&nbsp;are represented by&nbsp;<strong>Greek companies<\/strong>&nbsp;or by foreign companies operating on the&nbsp;<strong>Greek market<\/strong>.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-are-the-bankruptcy-procedures-in-greece\"><\/span><strong>What are the bankruptcy procedures in Greece?&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Bankruptcy<\/strong>&nbsp;refers to the legal procedure through which an entity (natural person or corporate structure) is no longer required to pay all the financial debts accumulated over time, due to the fact that there aren\u2019t sufficient&nbsp;<a href=\"https:\/\/www.lawyersgreece.eu\/property-lawyers-greece\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>assets<\/strong><\/a>&nbsp;that can be used for repaying the respective debts.&nbsp;<\/p>\n\n\n\n<p>However, the procedure does not imply that the debtor no longer has any financial obligations towards the respective debts.&nbsp;<\/p>\n\n\n\n<p>Instead, the legal action that can be taken is that the debtor can be required to initiate a reorganization plan or to repay a part of the debt, through an approved and agreed method.&nbsp;<\/p>\n\n\n\n<p>This is generally done through court proceedings, and this is why it is very important to<strong>&nbsp;<a href=\"https:\/\/www.lawyersgreece.eu\/lawyers-in-athens-greece\" target=\"_blank\" rel=\"noreferrer noopener\">address to a team of bankruptcy lawyers in Greece<\/a><\/strong>, as they have accumulated sufficient experience in this field.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"greece-bankrupts-%e2%80%93-recent-statistics\"><\/span><strong>Greece bankrupts \u2013 recent statistics&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The data concerning the&nbsp;<strong>bankruptcy level in Greece<\/strong>&nbsp;is gathered by the&nbsp;<a href=\"https:\/\/www.statistics.gr\/en\/home\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Hellenic Statistical Authority<\/strong><\/a>. The information has been collected through the data gathered by the Courts of First Instance, where such cases are typically held.&nbsp;<\/p>\n\n\n\n<p>In the list below, you can find information on the&nbsp;<strong>bankruptcy in Greece&nbsp;<\/strong>for 2020:&nbsp;<\/p>\n\n\n\n<ul>\n<li>in comparison to 2019, the&nbsp;<strong>bankruptcy of businesses in Greece<\/strong>&nbsp;fell by 9.5% in 2020;<\/li>\n\n\n\n<li>in absolute numbers, this accounted for&nbsp;<strong>63 bankruptcies&nbsp;<\/strong>in 2019and for&nbsp;<strong>57 bankruptcies<\/strong>&nbsp;in 2020;<\/li>\n\n\n\n<li>the&nbsp;<strong>highest decrease of bankruptcy<\/strong>&nbsp;for businesses was observed at the level of sole traders (a decrease of 27.8%);<\/li>\n\n\n\n<li>with regards to the economic activity, the largest number of&nbsp;<strong>businesses that went bankrupt<\/strong>&nbsp;was registered in the wholesale and retail trade, repair of motor vehicles and motorcycles (28.1% of the&nbsp;<strong>bankruptcies<\/strong>);<\/li>\n\n\n\n<li>over the last 10 years, the number of&nbsp;<strong>bankruptcies have gradually declined in Greece<\/strong>&nbsp;\u2013 in 2011, there were&nbsp;<strong>474 bankruptcies<\/strong>, in 2015,&nbsp;<strong>206 bankruptcies<\/strong>, and since 2018, the yearly number was below 100 (82 in 2018, 63 in 2019 and 57 in 2020).&nbsp;<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-is-the-law-on-bankruptcy-in-greece\"><\/span><strong>What is the law on bankruptcy in Greece?&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The main rule of law regulating this legal matter is the<strong>&nbsp;Law 4738\/2020 (the Debt Settlement and Facilitation of a Second Chance)<\/strong>. The law became applicable starting with 1st January 2021.&nbsp;&nbsp;<\/p>\n\n\n\n<p>This new law also provides for the legal framework applicable to<strong>&nbsp;natural persons becoming bankrupt<\/strong>.&nbsp;<\/p>\n\n\n\n<p>If you need further information concerning the provisions of this law,&nbsp;<a href=\"https:\/\/www.lawyersgreece.eu\/contact\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>our law firm in Greece remains at your disposal<\/strong><\/a>.&nbsp;&nbsp;<\/p>\n\n\n\n<p>We also invite you to contact us for information on other legal matters.&nbsp;<strong>Our law firm can<\/strong>&nbsp;represent you in immigration matters, citizenship, renting\/buying real estate.&nbsp;<\/p>\n\n\n\n<p>Thus, if you want to&nbsp;<strong>buy a property in Greece<\/strong>,&nbsp;<strong>our law firm<\/strong>&nbsp;can provide legal representation in all the stages of the procedure and will complete due diligence on your behalf, to make sure that the property doesn\u2019t have any hidden liabilities.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The services of&nbsp;bankruptcy lawyers in Greece&nbsp;are necessary for persons or companies that are involved in a situation in which they can\u2019t repay their outstanding debts.&nbsp; Bankruptcy in Greece&nbsp;is a sensible matter that will lead to court hearings where the court can establish a suitable financial plan.&nbsp; It is best to&nbsp;address to our lawyers in Greece&nbsp;who [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":75,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[63,62,61,64,22],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bankruptcy Lawyers in Greece - Representing Local and Foreign Clients<\/title>\n<meta name=\"description\" content=\"Our team of Greek lawyers can provide legal representation in any type of bankruptcy in Greece. 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