Insolvency Law

Insolvency Law

At Economou and Economou law office, as the Best Insolvency Lawyers in Greece, we will guide you through the new insolvency framework, enacted by Law 4738/2020 (Greek Government Gazette A’ 207/27.10. 2020) introduces a holistic approach to insolvency legislation in Greece and enables households and businesses to settle their debts, to the State, social insurance funds, banks, servicers and other private creditors. Unlike other laws (e.g., foreclosure laws), the insolvency law is designed to address a situation in which a debtor is no longer able to pay its debts to its creditors generally (rather than individually) and, in that context, provides a mechanism that will provide for the equitable treatment of all creditors.The insolvency proceedings include administration, liquidation, receivership, and voluntary arrangement. Insolvency and bankruptcy are two different terms; the former can lead to the latterWho pays for insolvency?Liquidator’s fees must be covered by the insolvent company. If that company has no money or assets, then the directors themselves have the responsibility.Cost of the procedure?As the professional input of an Insolvency Lawyer in Greece is necessary in order to place the company into liquidation, the payment of his or her professional fees is regarded as a necessary outlay and therefore they are the first ones to get paid from company assetsTransactional law is a broad designation that covers a variety of legal practice areas. In general, an Insolvency Lawyer in Greece helps clients – often privately held, publicly traded or even multinational companies – to conduct their business transactions, or deals. These undertakings might include, but are not limited to capital formation and securities issuances, mergers, acquisitions and divestitures,leveraged buy-outs, bank financings, project financings, joint ventures, business restructurings, negotiation of commercial contracts and advising on regulatory matters related to those transactions with:

Navigating Financial Rebirth: Your Beacon in Bankruptcy Law 

Welcome to Economou & Economou law firm, where we understand that financial challenges don’t define you; they present an opportunity for rebirth. As a distinguished bankruptcy law firm, we are committed to guiding individuals and businesses through the complexities of financial restructuring with empathy and expertise.

Turning Challenges into Opportunities:
At Economou & Economou law firm, we view bankruptcy not as an end but as a new beginning. Our compassionate team of bankruptcy attorneys is dedicated to helping clients turn financial challenges into opportunities for a fresh start, ensuring that you emerge stronger and more resilient.

Empathetic Legal Support:
Facing financial distress can be overwhelming, but you don’t have to navigate it alone. Our attorneys provide empathetic legal support, understanding the unique circumstances that lead to financial difficulties. We work closely with you, offering tailored solutions to address your specific needs.

Strategic Bankruptcy Counsel:
Bankruptcy is a strategic legal process, and our attorneys are adept at crafting personalized bankruptcy strategies. Whether you’re an individual seeking debt relief or a business in need of restructuring, Economou & Economou law firm is your partner in navigating the legal intricacies of bankruptcy law.

Comprehensive Bankruptcy Services:
From Chapter 7 liquidation to Chapter 11 reorganization, our comprehensive bankruptcy services cover the spectrum of legal solutions. Our attorneys leverage their expertise to guide you through the bankruptcy process, providing clarity and support at every step.

Rebuilding Financial Futures:
At Economou & Economou law firm, we believe in rebuilding not just financial stability but also financial confidence. Our goal is to help you lay the foundation for a brighter financial future, offering strategic advice and legal expertise to ensure a successful transition beyond bankruptcy.

Embark on a Journey to Financial Renewal:
Your journey to financial renewal begins with Economou & Economou law firm. Schedule a confidential consultation, and let us be your beacon in bankruptcy law. Together, we’ll navigate the path to financial rebirth.

At Economou & Economou law firm, as the Best Insolvency Lawyers in Greece, we specialize in insolvency law and are dedicated to helping individuals, businesses, and creditors find effective solutions to their financial challenges from our specialized Insolvency Lawyers in Greece.

So call us now at (+30) 210 3603824 or send us an email at to help you if you need to draft an agreement, negotiate with the counterparties, advise on corporate matters, create legal entities, fill legally required forms and conduct due diligence, board resolution, bring down certificates or escrow agreements

Contact us now


November 11, 2015

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