The New Pre-Bankruptcy Resolution Law: Τhoughts & Comparative Remarks on Relevant Laws

Postgraduate Thesis uoadl:2681501 262 Read counter

Κατεύθυνση Εταιρείες και Χρηματοδότηση
Library of the School of Law
Deposit date:
Kella Angeliki-Anna
Supervisors info:
Γεώργιος Μιχαλόπουλος, Καθηγητής Νομικής, ΕΚΠΑ
Εμμανουήλ Μαστρομανώλης, Επίκουρος Κθηγητής Νομικής, ΕΚΠΑ
Κωνσταντίνα Μπέτζιου - Κάμτσιου, Λέκτορας Νομικής, ΕΚΠΑ
Original Title:
Το Νέο Δίκαιο της Προπτωχευτικής Διαδικασίας Εξυγίανσης: Σκέψεις & Δικαιοσυγκριτικές Παρατηρήσεις
Translated title:
The New Pre-Bankruptcy Resolution Law: Τhoughts & Comparative Remarks on Relevant Laws
The present thesis deals with the new pre-bankruptcy resolution law, as amended by Law 4446/2016 and improved by Law 4491/2017.
The preface makes a general reference to the economic crisis which is inextricably linked to the business crisis. Therefore, the resolution process seems to be more topical than ever.
The introductory part (II) attempts to make a short comparison with the respective pre-bankruptcy provisions laid down by the laws of France, Germany, United Kingdom and the United States. The second part of this section gives a brief retrospective of the various legislative acts on resolution process that have been included from time to time in the Greek law until their replacement by the conciliation process when the Bankruptcy Code entered into force.
Section (III) provides a short overview of the regime of resolution since its introduction in 2011 until now, as regulated by Articles 99-106i of the Bankruptcy Code.
Section (IV) describes the Laws 4446/2016 and 4336/2016 relating to the prebankruptcy
resolution process. Next, a comparison is made between them. The chapter concludes with a critical approach to the new law of resolution process in its current form.
Section (V) presents a series of relevant legislative acts that do not fall within the scope of the Bankruptcy Code. Through a brief description of the functioning of the above legislation, the chapter finishes by comparing the new resolution process included in the Bankruptcy Code. Moreover, it is observed that, despite these many resolution processes, they do not have a specific resonance in businesses that are facing financial difficulties while the number of bankruptcies is equally low.
The explanation of the above mismatch is attempted to be given in Section (VI). The chapter begins with a short reference to the bankruptcy procedure whose weaknesses and negative impact are clearly analyzed. On the other hand, the constant legislative interventions indicate the need for a really effective resolution process. The chapter concludes with some proposals that could be implemented at a later stage aiming at process improvement.
To sum up, the section under the title “General Conclusions-Epilogue (VII)” expresses the view that the resolution process constitutes the most effective means for the financial recovery of businesses. However, it is noted that there is a lot to be done in order to achieve this objective.
Main subject category:
Law and Legislation
Other subject categories:
Bankrupty law
Rre- bankruptcy resolution process of the Bankruptcy Code, Relevant legislative acts that do not fall within the scope of the Bankruptcy Code, Business Crisis
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Το Νέο Δίκαιο της Προπτωχευτικής Διαδικασίας Εξυγίανσης. Σκέψεις & Δικαιοσυγκριτικές Παρατηρήσεις.pdf
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