The current insolvency regime in Greece regulated by L. 3588/2007 (the “Greek Bankruptcy Code” or the “GBC”) had already undergone a number of revisions; these were mainly to adapt throughout the nearly ten-year life of the GBC to the constantly changing needs, dictated by the financial circumstances, and to address issues arisen from its application in practice. The latest revision (L.

Extrajudicial Debt Settlement Procedure and Officers’ Liability in Debt Restructuring June 21, 2017 The long anticipated extrajudicial debt settlement procedure (the “EDS Procedure” or “EDS”) was introduced by Law 4469/2017 to provide an additional option for the rescue of indebted businesses at an early insolvency stage. The current pre-insolvency regime includes the rehabilitation procedure of Law 3588/2007 (the “Greek Bankruptcy Code” or the “GBC”), most recently revised at the end of 2016, and the special administration procedure of Law 4307/2014.