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Tag: bankruptcy law

Out-of-court settlements increase – What the May data show

Out-of-court settlements increase – What the May data show Out-of-court settlements increase – What the May data show

Of Leonida Stergiou With about 1,500 new applications and at an increasing rate, the out-of-court mechanism of the new bankruptcy is progressing, where 52,000 cases have been collected seeking settlement, total debts of 18 billion (14 billion to banks and 4 billion to the State), according to the latest available data (May) submitted by the […]

Out-of-court settlements are increasing

Out-of-court settlements are increasing Out-of-court settlements increase – What the May data show

Of Leonida Stergiou With about 1,500 new applications and at an increasing rate, the out-of-court mechanism of the new bankruptcy is progressing, where 52,000 cases have been collected seeking settlement, total debts of 18 billion (14 billion to banks and 4 billion to the State), according to the latest available data (May) submitted by the […]

Strict warnings about bank profitability – red loans from the IMF

Strict warnings about bank profitability – red loans from the IMF Strict warnings about bank profitability – red loans from the IMF

By Leonidas Stergiou As Greek banks consolidate, a sustainable increase in their profitability remains key to further enhancing their resilience. According to an IMF report, two main sources of profitability, namely net interest income and commission income, appear to be highly dependent on the macroeconomic environment. The IMF notes that while profitability is expected to […]

Meetings at the Ministry of Finance to accelerate the new bankruptcy

Meetings at the Ministry of Finance to accelerate the new bankruptcy Meetings at the Ministry of Finance to accelerate the new bankruptcy

Of Leonida Stergiou Continuous meetings are held at the Ministry of Finance, with the competent bodies in recent days with the aim of accelerating the extrajudicial mechanism, while in about two weeks a new meeting is expected with the Ministry of Justice to resolve the problem with the stagnant cases of N. Katselis the 40,000. […]

Bankrupt at a remarkable rate

Bankrupt at a remarkable rate Bankrupt at a remarkable rate

By Leonidas Stergiou The out-of-court mechanism of the new bankruptcy law is proceeding at a particularly slow pace, aiming at the overall settlement of debts to banks and the State of households and companies. During the first six months of operation of the new bankruptcy, the electronic platform for out-of-court debt settlement, a total of […]

The extrajudicial mechanism – The reasons

The extrajudicial mechanism – The reasons The extrajudicial mechanism – The reasons

By Leonidas Stergiou The consensus button for the lifting of banking and tax secrecy is the cause of 30% of fruitless proceedings in the out-of-court phase of the new bankruptcy law. There is also a long delay in finalizing the application in order to send it to creditors for settlement. One reason is the wait […]

The loan arrangements came off through the out-of-court mechanism

The loan arrangements came off through the out-of-court mechanism The loan arrangements came off through the out-of-court mechanism

By Leonidas Stergiou The number of applications for out-of-court debt settlement through the platform of the new bankruptcy law is increasing, after many months in the system as non-finalized. This development was expected by the people of the market and the executives of the Ministry of Finance, as the main source of delay was the […]

The first 24 regulations through the new bankruptcy law

The first 24 regulations through the new bankruptcy law The first 24 regulations through the new bankruptcy law

By Leonidas Stergiou The electronic platform and the objective way of settling debts during the out-of-court mechanism have started. The Ministry of Finance announced that from the automatic procedure and after examination of 36 proposals by the banks, the first 24 regulations were accepted by the individuals. It is noted that the applications that have […]

Auction tsunami over the next 15 months

Auction tsunami over the next 15 months Auction tsunami over the next 15 months

By Leonidas Stergiou About 50 to 100 auctions are planned for each day of the year, of which not a third are held, while none of them so far involved a vulnerable debtor, and in fact that has been affected by the pandemic crisis. The data from the electronic platforms of the Special Secretariat for […]