• Restructuring & Insolvency  2011
  • January 20, 2012 | Authors: Ioannis Kontoulas; Eleana Nounou; Stathis Potamitis
  • Law Firm: POTAMITISVEKRIS - Athens Office
  • The Bankruptcy Code (in its current state, Law 3588/2007 as amended by Law 3858/2010) is applicable to bankruptcies and reorganisations in Greece. The newly introduced Greek Bankruptcy Code provides for reorganisation as an alternative to liquidation. Moreover, Greece, by virtue of Law 3858/2010, adopted the UNCITRAL Model Law on Cross-border Insolvency. Finally, because Greece is an EU member state, Regulation 1346/2000 also applies.