Debt Settlements


It is important to have a complete and true picture of your financial position. Conservative and timely preventive actions significantly increases the chances of a succesful settlement of the debts because:

  1. The crisis is still manageable

  2. There is avoidance of negative publicity

  3. There is greater negotiating power

  4. It reduces customer losses, reputation and intangible value of the business

The available tools for the settlement of overdue debts are:

1. The mediation in the Restructuring Process of the Debts

  • The objective is to preserve, use, recover and restructure the business, without compromising the collective satisfaction of creditors.

  • The primary target is a viable agreement between the debtor and its creditors.

2. Out of court Debt Settlement according to Law. 4469 / 2017

Through this law a viable company has the possibility to settle the total company debts towards private & public creditors. The target of the law is to give another chance to all the viable companies through the restructure of their debt.

To this scope we undertake:

  • To organize and manage the collection of the required data
  • The Financial analysis and the business plan preparation
  • The preparation of the debt restructure proposal
  • The submission of the application to the special government body for the management of the private debt

3. Pre- Bankruptcy Resolution Process - Law. 3588/2007

  • "Every natural person or legal entity with bankruptcy capacity in accordance with Article 2 paragraph 1 which has the center of its main interests in Greece which is under a present or imminent inability to satisfy his financial obligations in general, may be subject to the restructure procedure provided herein by decision of the competent Court. The subject of the preceding paragraph may be led to the procedure of this chapter even when there is no current or impending inability to fulfill, if in the opinion of the Court there is merely probability of insolvency, which may be lifted with this procedure ... "

Ask for our intermediation for any financial matter concerns you.

We can support you in Accounting and Fiscal matters as well as in the settlement of disagreements between partners, Employer and Employee or with the Greek state. We will address you to the best potential solution according to the current legislation.  

 

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