Single Member Court of First Instance of Chios – Case Number136/2015

For the ratification of a settlement agreement under Art. 62 et. of Law 4307/2014, is required inter alia the conclusion of the agreement by a certain majority of creditors. If a creditor was included in the creditor status which should not have been included by Law, the Court may recalculate the percentages of creditor consenting. Furthermore, the debtor is not required to submit financial statements or a certificate for debts to the State and social security institutions (as these creditors are excluded from the conclusion of a settlement agreement), as a condition of the admissibility of the application. Published in Commercial Law Inspection, 2015, volume 3, volume SST, p. 702.