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Out-of-court debt settlement mechanism

Submission of an application for joining the process of extrajudicial debt settlement of Law 4469/2017.

The purpose of the out-of-court settlement
The purpose of the out-of-court settlement is to address and regulate corporate debt to private and public creditors in order to ensure the continued operation of viable businesses.
The main goal is to save only viable businesses, ie those who have the ability to continue their business on the market and achieve operational profitability in the future.

Conditions for joining the business arrangement (Eligibility Criteria)
(All businesses involved)
 Individual
 Small & Medium
 Great
That is, any natural person with insolvency capacity and any legal person who obtains income from business activity, according to articles 21 and 47 of the Income Tax Code (law 4172/2013, A ‘167) and has a tax residence in Greece to apply to be subject to the out-of-court settlement procedure. Freelancers and farmers can also apply.
The accountancy office has been specialized and has the appropriate certification to submit and complete the application form as well as to prepare the business plan.

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