Banking Law
In the field of banking law, our services are focused on addressing credit crises for businesses and managing high debts for both businesses and individuals alike. With specialized knowledge in banking law, banking supervision law, and consumer protection law, we tackle any abusive practices by credit institutions and restore excessively burdensome and abusive contracts to a fair state. It is worth noting that we are one of the few firms with over 10 associates that have never taken on representation from a credit or financial institution (bank or debt management company). Our primary goal has always been to defend the borrower’s rights.
The company has extensive experience in handling banking law issues. Banking law includes specific regulations that are not typically known to the borrower-entrepreneur/consumer. This lack of knowledge can deprive the borrower of the ability to exercise their legal rights and may result in the imposition of illegal and unconventional charges during the execution of credit contracts. The issues that arise in the broad subject of banking law are numerous and require specialization and in-depth knowledge of this specific area of the law. For this reason, our associates regularly prepare and publish newsletters on current and classic banking law issues. In the section below this note, the reader can find and read these individual notes.
Moreover, within the framework of enforcement procedures, it is known that after the termination of credit agreements, credit institutions generally submit applications for the issuance of Payment Orders, which, if issued, are enforced based on the provisions of the Code of Civil Procedure for compulsory execution (compulsory seizure of movable and immovable property, freezing/seizure of bank accounts, etc.). Our law firm specializes in the immediate and effective handling of such cases, successfully applying the legal remedies provided, which highlight any illegal and abusive terms of banking contracts and any deficiencies in the issuance and execution of the payment order. Additionally, utilizing the institutional framework of insolvency law (bilateral negotiations, extrajudicial mechanism, restructuring process, etc.), efforts are made towards the extrajudicial resolution of disputes that arise with creditors-financial institutions.
Even in cases where the credit or financial institution has not upheld enforcement proceedings and, in general, aggressive actions against the debtor, legal representation is necessary for negotiating repayment terms and the continued operation of the loan agreement, as well as for the application of the Code of Ethics (Law 4224/2013). The well-documented and specific identification of the “impossible” points of the position of the creditor/financial institution strengthens the borrower’s proposal and supports the approval of the submitted requests by the committees of the banks or SPVs.
Indicatively, we provide the following services:
- Legal support within the framework of the Code of Ethics Process of the Banks or within the framework of bilateral negotiations between the borrower and the credit/financial institution before the termination of the credit agreement.
- Exercise of legal remedies and preventive measures to challenge the legality of contractual terms and the amount of the alleged debt, as well as failure to terminate the credit agreement by the credit/financial institution.
- Exercise of legal remedies against an issued payment order.
- Exercise of legal remedies during the enforcement process of a payment order or another enforceable title (opposition to compulsory seizure of movable or immovable property, opposition to foreclosure and/or eviction of the tenant from auctioned leased property, etc.).
- Exercise of legal remedies for the suspension of the enforcement procedure (suspension of foreclosure, suspension of execution, etc.).
- Legal support within the established procedures of insolvency law (bilateral negotiations, extrajudicial mechanism for debt settlement, restructuring process, etc.).