Restructuring/ Insolvency

Recent Changes in Restructuring and Insolvency Law

Greece has lately reformed its national restructuring and insolvency law to improve the existing statutory legal framework and enhance its effectiveness in domestic cases. These reforms may have been partly fueled by regulatory competition in times of crisis but were mainly triggered by the commitment of the Greek State to reforms towards the European authorities in the context of a Memorandum of Understanding negotiated and agreed between the European Commission (on behalf of the European Stability Mechanism - ESM) and the Greek State.

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