Mediation in Formal and Informal Insolvency: A Greek Perspective
Article from: TDM 4 (2017), in Comparative and International Perspectives on Mediation in Insolvency Matters
In May 2017, the Greek Government passed the Law 4469/2017, which introduces a new out of court scheme concerning the voluntary debt restructuring of heavily indebted businesses. Both debtors and creditors obtain a redress mechanism in order to reach a mutually accepted agreement which will be the fruit of a negotiation procedure. The aim is the avoidance of the debtor's bankruptcy and the debt restructuring which will be beneficial for all the involved parties: debtor, creditors, employees and the State. In this novel online mechanism, a key role is reserved for mediators ...