The recently introduced unified Greek framework for insolvencies (Greek law 4738/2020) seeks to improve the previous Greek insolvencies regime, among others, by codifying the insolvency proceedings in one master law, shortening the liquidation process, strengthening the role of the creditors and generally modernizing the pre-existing procedural framework.
Some of the provisions of Greek law 4738/2020 are expected to enter into force as of 01.03.2021 while others are expected to enter into force as of 01.06.2021.
Several items provided for in Greek law 4738/2020 are expected to be further clarified through the issue of implementing regulations.
For further information read our newsletter on Greek law 4738.2020:
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