Bankruptcy
Debtors to lease back their homes
The new bankruptcy code will provide for the main residences of bankrupt borrowers considered financially vulnerable to be transferred to a state entity and leased back to the original owners. This will replace the existing framework for the protection of debtors' main residence from repossession.
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Bankruptcy reform due this summer
The Finance Ministry is about to complete the drafting of the new bankruptcy code that will allow for the speedy bankruptcy of households as well as businesses. The bill will allow them to be relieved of their debts, offering them a second chance once their entire set of assets has been liquidated.
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Benefit for debtors left homeless
Greece's creditors appear ready to agree to a solution on foreclosures in the form of a housing benefit for people in need that would not be associated with the protection of debtors' main residence.
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The last chance
The problem with the so-called "troubled" state-owned companies is not so much economic in nature as it is political.
The government is trying to break the vicious cycle created by the absurdity of clientelism and restore some semblance of sound economic reality to these companies.
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Government presents plan for restructuring, selling LARCO
The Greek government on Monday presented a plan for the restructuring of LARCO, one of Europe's biggest nickel producers, by placing the mineral and metallurgical industry into a clearance management status which envisages cost and wage reductions, and an immediate launch of a tender for the selling of the factory and mines within 12 months.
Incentives for the merger of companies with bad loans
The new bankruptcy law that the government is working on will offer incentives for the merger of companies that have nonperforming corporate loans entering a restructuring process, according to sources. The aim is to have the bill voted into law by the end of April, in line with the country's pledges in the process of the post-bailout enhanced surveillance.
Greek gov't to end protection of most debtors
The government is working on measures to accelerate the court hearings of borrowers who have found protection from confiscations under the so-called Katseli law; it is also forming its new bankruptcy code, whose central idea will be "pay up what you owe or go under."
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Warning system for businesses under threat
The Finance Ministry intends to strengthen the provisions of a new bankruptcy legal framework with an early warning system for identifying companies that are in serious financial distress and whose sustainability is at risk.
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Fifth review of the economy begins on Wednesday at staff level
The fifth post-bailout assessment of the Greek economy begins on Wednesday at the staff level, with the new framework on the bankruptcy law and credit sector issues dominating the agenda of a review that is not related to any disbursement of funds to Greece.
Euromedica files for protection
The new management of Euromedica has filed for protection from creditors under the bankruptcy law.
The listed firm is planning to start a streamlining process with the entry of a strategic investor and the restructuring of obligations adding up to 500 million euros.
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