Best Restructuring & Insolvency Lawyers in Peristeri

1. About Restructuring & Insolvency Law in Peristeri, Greece

Peristeri is a large suburb of Athens, part of the Attica region. When a business or individual in Peristeri faces financial distress, Greek restructuring and insolvency rules apply the same way as throughout the country. The modern framework emphasizes both preventive restructuring and orderly insolvency procedures to maximize recovery for creditors and preserve viable businesses where possible.

In practical terms, this means you will interact with courts in the Athens area, insolvency practitioners, and creditors under the rules set out in the Code of Bankruptcy and Corporate Reorganization. The process can involve an insolvency administrator, creditors' committees, and a formal restructuring plan if viability exists. A local Peristeri-based attorney will coordinate filings and communications with the competent court and parties in Athens.

Key goals in Peristeri matters include delaying creditor actions while a restructuring plan is developed, assessing whether a debt restructuring is feasible, and ensuring compliance with Greek procedural timelines. Greek insolvency authority also considers employment protections, contract continuities, and asset preservation during proceedings.

“Law 4738/2020, known as the Code of Bankruptcy and Corporate Reorganization, established the current framework for Greece’s restructuring and insolvency procedures.”

Source: Gov.gr

2. Why You May Need a Lawyer

Peristeri residents and business owners benefit from skilled legal guidance in concrete situations. Below are real-world scenarios that typically require specialized Restructuring & Insolvency counsel.

• You operate a small factory in Peristeri and face a liquidity crunch. You need a lawyer to assess whether preventive restructuring is viable and to prepare a restructuring plan with creditors.
• Your company or you personally receive a formal insolvency petition. You must act fast to file claims, file objections, or propose a plan within strict deadlines.
• You negotiate with multiple creditors across different sectors (suppliers, banks, and tax authorities). You need a lawyer to coordinate a unified plan and avoid piecemeal settlements.
• You want to pursue a pre-insolvency arrangement to renegotiate terms with creditors while preserving the business. Legal guidance helps ensure the plan meets legal standards and is enforceable.
• Your employees face potential redundancies or reorganization costs. You require counsel to align with labor law protections and the insolvency process.
• Your business has international creditors or trade partners. You need advice on how cross-border insolvency rules affect priorities and distributions.

3. Local Laws Overview

The core framework governing restructuring and insolvency in Greece is the Code of Bankruptcy and Corporate Reorganization, commonly referred to as Law 4738/2020. This code introduces preventive restructuring options as well as formal insolvency procedures for companies and individuals.

In cross-border insolvency matters, Greece follows European Union rules that govern cooperation between courts and insolvency practitioners across member states. The interplay between Greek courts and foreign creditors is shaped by these EU guidelines, as applicable in Peristeri and throughout Greece.

Other procedural rules you will encounter include how insolvency administrators are appointed, the rights and duties of creditors, and the timeline for filing and implementing a restructuring plan. For the most accurate and up-to-date information, consult official Greek sources and your local attorney in Peristeri.

Source note: Law 4738/2020 is central to these topics and governs current restructuring and insolvency procedures in Greece. See Gov.gr for official summaries and updates.

4. Frequently Asked Questions

What is the difference between restructuring and insolvency in Greece?

Restructuring focuses on reorganizing debts and operations to avoid failure. Insolvency is the state where debts exceed assets and formal procedures may follow.

How do I start a preventive restructuring in Peristeri?

A qualified lawyer evaluates viability, gathers financials, and files the required plan with the competent court or creditor group, following the Insolvency Code procedures.

What documents are required to file for insolvency in Athens?

Documents typically include recent financial statements, a debt schedule, details of assets and liabilities, contracts, and tax and payroll records. Your lawyer will provide a precise list.

How much does it cost to hire a restructuring lawyer in Peristeri?

Costs vary by complexity and hours. Expect an initial consultation fee, followed by hourly rates or a fixed fee arrangement for specific stages of the case.

How long do restructuring procedures typically take in Greece?

Timeline depends on case complexity and court calendars. Simple restructurings may conclude in months, while complex matters can extend beyond a year.

Do I need to be a resident of Peristeri to file locally?

No. Insolvency matters are handled by the competent courts, usually in Athens for Peristeri, regardless of where you reside within Greece.

Can a foreign investor trigger a restructuring under Greek law?

Yes, foreign investors with Greek assets or branches may initiate restructuring or insolvency proceedings in Greece through local legal counsel.

Should I hire a Greek solicitor or an international attorney for these matters?

For Greek insolvency matters, a local Greek solicitor or attorney with insolvency experience is essential. They can navigate Greek courts and procedural rules.

What is a creditors' committee and when is it formed?

A creditors' committee represents major creditor interests during restructuring and insolvency proceedings. It is formed by the court or agreement among parties depending on the case.

What are the main steps for a cross-border insolvency case?

Coordinate with Greek and foreign creditors, determine applicable law, establish recognition of proceedings, and ensure cooperation between involved courts and practitioners.

Is there public funding or legal aid for insolvency cases in Greece?

Legal aid is available in some circumstances. A Peristeri lawyer can assess eligibility and guide you through the application process.

Do I need to publish a notice about filing for insolvency?

Yes. Insolvency filings and major actions typically require formal notices to creditors and publication in designated channels as part of transparency requirements.

5. Additional Resources

Useful official resources for Restructuring & Insolvency in Greece include:

• Gov.gr - Official portal with summaries and updates on the Code of Bankruptcy and Corporate Reorganization and related procedures. Gov.gr
• Hellenic Parliament - Official texts and amendments of laws including Law 4738/2020. Hellenic Parliament
• Areios Pagos - Official site of Greece's Supreme Court, which issues rulings impacting insolvency practice. Areios Pagos

6. Next Steps

1. Identify your goal and the business or personal objective you want to protect through restructuring or insolvency. Set a realistic timeline with your Peristeri lawyer.
2. Gather current financial records, debts, contracts, and key asset information. Organize statements by creditor type (banks, suppliers, tax authorities).
3. Consult a Peristeri-based attorney with insolvency experience to assess whether preventive restructuring is viable or if formal insolvency is necessary.
4. Obtain a preliminary viability assessment and outline a proposed restructuring plan or insolvency strategy with your lawyer.
5. File the required documents with the relevant Athens court or coordinate with the insolvency administrator as directed by your counsel.
6. Engage in creditor negotiations under the guidance of your attorney to maximize the chances of a feasible restructuring plan.
7. Review fees, timelines, and potential outcomes with your lawyer before entering any formal proceeding or settlement.