The 30th Conference of the Association of Greek Commercial Scientists was held in early April in Nafplio, on the topic “Aspects of the new Insolvency Law (Law 4738/2020)”.
The Conference was held with great success – despite the difficult health conditions – in the presence of the President of the Supreme Court Mr. Maria Georgiou, the Vice President of the Supreme Court Mr. Christodoulos, the Areopagitos Mrs. Kiouptsidou, Judges of Appeal, Judges .
The topics of the Conference guided the participants in the logic of the new Insolvency Code, in the objectives, the bankruptcy liabilities, the Reorganization, the protection of the debtor’s main residence, the institution of Exemption and the position of the creditors in the New Insolvency Code. The legislative imperfections of the Law were pointed out and most remarks and suggestions were made for its improvement.
The Conference was attended by Ioanna Kalantzakou, Lawyer – Member of the Draft Law Committee of the Bankruptcy Code 2007- Head of the Bankruptcy Law Committee of the Athens Bar Association (in relation to the Bankruptcy Law 4738/20) – Member of Elemos. Deputy DSA – Supervisor MEP – Supervisor Member of Parliament B1 of the Northern Sector of Athens (N.D.). The subject of her presentation was the institution of Exemption and the provision of a second chance for a financial restart, a valuable tool that the new law offers to over-indebted debtors. In an environment of financial uncertainty that is unlikely to cause the new wave of price increases and accuracy in businesses and households, Law 4738/2020 can offer a valuable way out – both with its precautionary arrangements for out-of-court settlement and resolution process. as well as with debt relief and a second chance at the poor debtor. Let us hope that the conclusions of the Conference will contribute to the improvement of the Law and its successful implementation in practice.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
