February 2024 – Suspension of Payment Orders and writs of payment for the amount of €50.000 and €150.000 respectively.

By the Provisional Orders of the Athens Court of First Instance of 08.02.2024 and 27.02.2024, our demands regarding the suspension of the enforcement of Payment Orders and the corresponding writs of payment, amounting to 50.000 and 150.000€ respectively, were accepted, temporarily prohibiting the Receivables Servicer Company from carrying out enforcement actions (seizure and auction of real estate, seizure of bank account, etc.) against our clients, a commercial enterprise, and its legal representatives (guarantors in the relevant Loan agreements).

With the granted suspension of the enforcement actions, the duration of which lasts until the decision on the main application for suspension (which is expected to be issued in 6-7 months from today), on the one hand the Servicer cannot undertake further enforcement actions (forced liquidation of the movable and immovable property of our clients, but what is more interesting in this case, is that it cannot seize the bank accounts of our client-customer, a commercial enterprise, the existence and smooth operation of which is absolutely necessary for the uninterrupted continuation of its operations) on the other hand, our debtor-investors are put in an equivalent negotiating position with the debt management company in order to settle their alleged debts on terms more favourable to them. The procedure for granting a provisional suspension of enforcement is a legal instrument to prevent the imminent risk of irreparable harm to the debtor against whom the creditor has initiated proceedings for the recovery and enforcement of his alleged claim. In essence, it is a first “mini” court, but due to the pressure of time in view of the imminent danger, a detailed examination of the case does not take place nor the formation of a full legal decision from the Judge. For this reason, and in order to protect the interests of the client, the role of the attorney is absolutely crucial, who in the few minutes that the whole procedure lasts must focus and effectively highlight the basic defects of the contested acts, so that there is a serious chance that the requested suspension will be granted by the Judge.