Following the example set by many other European jurisdictions, Greece sought to reform its Insolvency Code in 2007, in order to introduce procedures that offered a genuine chance of survival to ailing companies. The Law of 2007 has been subsequently tweaked a few times in attempts by the legislator to strengthen the rescue culture nurtured by the 2007 reforms and to facilitate corporate rescue in a financially challenging environment, where the stigma of failure still has a strong presence. The aim of this article is to offer a brief analysis of the corporate rescue provisions of Greece as they now stand and to assess their efficiency.
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