In a case handled by our office, in the context of submitting application on the platform of the extrajudicial debt settlement mechanism according to the provisions of articles 5-30 of Law 4738/2020, the restructuring proposal reached included the debt cancellation of 188,671.01 euros (42% of the total debt), i.e. more than 1/3 of the total debt.
' extrajudicial mechanism is one of the means available to borrowers to settle their debts. Our office has scientific expertise and long-standing experience in managing cases that concern the entire spectrum of banking law, both at the level of judicial defense of borrowers and out-of-court settlement.
Here is the relevant excerpt from the restructuring proposal:
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