Multi Member Court of First Instance of Athens – Case Number 89/2014

Application of a debtor for admission to a special liquidation regime. The company does not have to be in operation, as is implied by the wording of paragraph 1 of Article 106ia. Requiring full forensic belief – Probability is not enough. Main intervention – Admissibility – Way of exercise. Only the filing of the application to the Registry of the competent court, which must take place more than three (3) working days from the discussion of the application (Article 106 § 5 par. B) of Law 3588/2007), without the need to complete it and the service of a copy to the applicant. Uncertainty of content of a certified investor’s certificate. Concept of availability of required funds. Indication of the risk of failure of collective creditors’ satisfaction that concerns not only the estimated time of satisfaction (the ability of an investor to pay 40% after the remainder to 5 years) but also the extent of satisfaction (due to the release of liquidation costs). – Refuses application for position S.A to the special winding-up regime provided for in Article 106ia of Law 3588/2007 due to non-compliance with the requirements of the law.