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Structured finance covers transactions that convert pools of financial assets into tradable instruments or reorganise financial risk through specialised legal and contractual structures. Common examples include securitisations, asset-backed securities, mortgage-backed securities, collateralised loan obligations, and bespoke credit or risk transfer arrangements. In Xanthi, Greece, structured finance activity follows national corporate, civil and tax law, Greek regulatory rules for banks and capital markets, and applicable European Union regulations.
Although Xanthi is a regional city, structured finance matters are largely governed by national law and supervised by national regulators. Local lawyers in Xanthi work with Athens-based counsel, auditors, banks and notaries when transactions require specialised capital markets or cross-border expertise. Practical aspects such as property registration, local court involvement and notarisation of certain documents will generally be handled locally in Xanthi or the surrounding Xanthi prefecture.
Structured finance transactions are legally complex, involve multiple counterparties and have significant regulatory, tax and operational consequences. You may need a lawyer in the following situations:
- You are a lender, investor or originator planning to package loans or receivables into a securitisation and need to design the transaction structure and documentation.
- You are a bank or financial intermediary seeking advice on compliance with capital rules, risk retention, transparency requirements and reporting obligations under EU and Greek law.
- You are purchasing non-performing loans or portfolios and need legal due diligence on enforceability, title to collateral and registration of security interests.
- You need to set up a special purpose vehicle - corporate form, shareholder rights, governance, and bankruptcy-remote features must be drafted carefully.
- You require assistance in negotiating, drafting and registering security documents - mortgages, pledges, assignments of receivables, guarantees and intercreditor agreements.
- You are an issuer or sponsor planning a public offering or private placement and must comply with prospectus, disclosure and market rules under Greek and EU regimes.
- You face enforcement or insolvency issues involving assets that are part of a structured transaction and need to protect investor rights and priority of claims.
- You need tax planning to optimise withholding, VAT, stamp duties and corporate tax implications for the transaction.
In each case a lawyer helps manage legal risk, ensures regulatory compliance and coordinates with accountants, valuation experts, trustees, rating agents and regulators.
Structured finance in Greece is shaped by a combination of national law, EU regulation and supervisory practice. Key legal areas to consider include corporate law, securities and capital markets regulation, banking and prudential rules, civil and property law, insolvency law, tax law and anti-money laundering rules.
- Corporate and contractual framework - Structured finance typically uses special purpose vehicles which must be formed and governed under Greek company law if organised locally. Transaction documents include purchase and sale agreements, servicing agreements, security documents, intercreditor agreements and offering documentation. Legal drafting must ensure bankruptcy remoteness and clear allocation of rights.
- Securities and capital markets regulation - Public offers and listings, prospectus obligations, and transparency rules fall under Greek and EU securities law. The Hellenic Capital Market Commission supervises many capital-markets related aspects. EU level rules such as the Securitisation Regulation may apply to many transactions and set out rules on transparency, due diligence and risk retention.
- Banking and prudential supervision - Banks and credit institutions must observe Bank of Greece rules and prudential requirements when selling assets, granting loans or investing in securitised products. Regulatory approvals or notifications may be required for certain transfers or restructurings.
- Property and security interests - Greek civil and property law governs mortgages, pledges and pledge-like mechanisms for receivables. Registration in local land registries or the electronic cadastral system may be necessary to perfect a mortgage or other rights in rem. Assignment of receivables must be carefully structured to preserve enforceability and priority against third parties.
- Insolvency and enforcement - Enforcement of security often requires judicial steps. Greek insolvency law determines the treatment of SPVs, originators and secured creditors. Properly drafted security and transfer documentation is essential to limit the risk that a transaction is unwound in a bankruptcy.
- Taxation - Stamp duties, value added tax, withholding tax and corporate tax can materially affect transaction economics. Tax rulings or careful structuring may be required to avoid unexpected liabilities. Local Greek tax authority practice and EU tax rules should be assessed early in the process.
- Anti-money laundering and data protection - Financial counterparties must comply with Greek AML rules and EU AML directives. Personal data transferred in connection with securitisations or servicing must comply with data protection rules including the General Data Protection Regulation and Greek implementing measures.
Because Greek law interfaces with EU rules and international practice, transactions commonly require coordination between Xanthi-based advisors and specialists in Athens or abroad to address cross-border, regulatory and market-standard requirements.
A securitisation is a structured finance transaction where financial assets such as loans, receivables or mortgages are pooled and used to support issued securities or other funding instruments. Yes, securitisations are permitted in Greece. Transactions must comply with applicable Greek corporate and property law, tax rules and EU-level securitisation regulations where relevant.
You can use either a Greek SPV or a foreign SPV, but each choice has legal, tax and operational consequences. A local SPV may simplify property registrations and engagement with Greek courts, whereas a foreign SPV may be preferred for investor familiarity or tax reasons. A lawyer will advise on the optimal corporate form and jurisdiction according to your goals and regulatory constraints.
Security over real estate is created by mortgage deeds typically notarised and registered with the land registry or cadastre. Pledges over receivables and other movable assets require specific documentation and may require registration in public registries to perfect priority. Assignments of receivables must be carefully drafted to ensure enforceability against debtors and third parties.
Regulatory involvement depends on the parties and the product. Banks and credit institutions may need to notify or receive approval from the Bank of Greece for disposals of loan portfolios. Public offerings require compliance with capital markets regulations and oversight by the Hellenic Capital Market Commission. EU rules such as the Securitisation Regulation impose transparency, due diligence and risk retention requirements that must be observed.
Timelines vary widely with complexity. A relatively straightforward portfolio sale or small-scale securitisation may be completed in a few months, while large securitisations or cross-border transactions typically take several months to complete and may require staged work on due diligence, regulatory filings and negotiations. Time for land registry or cadastre registrations and tax clearances should be factored in.
Tax considerations include stamp duties on agreements, VAT treatment where relevant, withholding taxes on interest or fees, corporate tax issues for SPVs and potential transfer taxes on property. Early tax analysis and, where appropriate, obtaining tax rulings can reduce the risk of unexpected liabilities and improve transaction feasibility.
Yes, NPL sales and securitisations have been an active area in Greece. However, NPL transactions require careful due diligence on debtor enforcement rights, collateral quality and the pace of enforcement under Greek law. Special market practices and occasional public support schemes in recent years have influenced structuring and risk allocation.
If transfers are structured and documented correctly, sold assets should be isolated from the originator's insolvency estate. Key protective measures include true-sale documentation, proper registration of assignments and security, and corporate isolation of SPVs. A lawyer will assess whether steps taken achieve the intended bankruptcy remoteness under Greek insolvency rules.
Yes. Public offers and certain sales to professional investors trigger prospectus, disclosure and investor protection rules under Greek and EU law. Even for private transactions, market best practice and regulatory expectations require robust disclosure, servicing arrangements and trustee or investor protection mechanisms.
Look for a law firm or lawyer with experience in corporate finance, banking, securitisation and cross-border transactions. Relevant experience includes drafting securitisation documentation, handling property registrations, coordinating tax and regulatory issues and working with international investors. Ask about previous transactions, the team who will work on your matter, language capabilities and how they coordinate with specialists outside Xanthi when needed.
There are several Greek governmental and supervisory bodies, registries and professional organisations useful for structured finance matters:
- Bank of Greece - supervises banks and issues regulatory guidance relevant to asset sales and prudential treatment.
- Hellenic Capital Market Commission - supervises capital markets, prospectus and disclosure rules for securitisations and public offers.
- Independent Authority for Public Revenue - national tax authority handling tax matters and clearance.
- Hellenic Financial Intelligence Unit - supervises anti-money laundering compliance and reporting.
- General Commercial Registry (GEMI) and local land registries or the national cadastre - for company and property registrations.
- Greek Bar Association and the local Xanthi Bar Association - for lawyer accreditation and professional references.
- Notaries public in Xanthi - for notarisation of deeds, mortgages and corporate acts.
- Professional advisers - accountants, valuation firms, rating agencies and trustees with experience in structured finance.
If you need legal assistance with structured finance in Xanthi, consider the following practical steps:
- Arrange an initial consultation with a Xanthi-based lawyer who has structured finance experience. Prepare a clear summary of the proposed transaction, parties, assets and objectives.
- Provide documentation for a preliminary legal due diligence review - loan files, security documentation, corporate records, tax filings and any regulatory correspondence.
- Ask for a written engagement letter outlining scope, deliverables, estimated fees and timelines. Confirm whether specialists in Athens or abroad will be involved and how coordination will take place.
- Obtain early tax and regulatory advice to identify potential showstoppers and minimise costs. Consider whether pre-transaction steps are needed to perfect security or clear title.
- Plan for translations and notarisation - Greek law and local registries often require documents in Greek or with certified translations and apostilles for foreign documents.
- Ensure AML and data protection requirements are understood and implemented by all parties, including KYC procedures for investors and servicers.
Structured finance transactions are multi-disciplinary. Early legal engagement in Xanthi will help you avoid costly mistakes, achieve a robust documentation package and navigate regulatory, tax and enforcement issues. If you would like, prepare a concise summary of your situation and reach out to a qualified local lawyer for a tailored assessment.
