In this edition we summarise the most important amendments introduced to the Bankruptcy Code, the Administrative Procedural Code and to Presidential Decree 18/1989 regarding the Council of State (StE) by Law 4446/2016 (Government Gazette A 240/22.12.2016) on “Bankruptcy Code, Administrative Justice, Duties-Fees, Voluntary Disclosure of Undeclared income, Electronic Transactions, Amendments to Law 4270/2014 and other provisions”.
In this edition
The above law introduces significant amendments, among others, in the following areas:
- The Bankruptcy Code is reformed aiming for more efficient bankruptcy and rehabilitation procedures, shorter deadlines in order to expedite procedures and granting a second chance to businessmen acting in good faith who have been declared bankrupt.
- Court proceedings before the administrative courts and the Council of State are amended and court duties and fees are adjusted in an attempt to simplify and expedite administration of justice.