ARTICLES

20 Jan 2024 | in ARTICLES, Employment law, by

Employment Law Alert: Ministerial Decision No 113169/2023

On 28 December 2023, Ministerial Decision No 113169/2023 (“The Decision”) by the Ministry of Labor and Social Security was published in the Government Gazette. The Decision regulates specific issues in relation mainly to the Digital Work Card, a scheme established in Greece by Law 4808/2021, and focuses on details regarding the application of Law 5053/2023, which entered into force a few months ago. READ FULL ARTICLE

20 Dec 2023 | in ARTICLES, Energy, by and

Law 5069/2023: The key environmental and energy provisions (in Greek)

On 28.11.2023, Law 5069/2023 on Data Centers, utilization of Green Fund resources and other environmental and energy provisions was published. Taking into account the reformative changes in the environmental legislation, especially with regard to the market of renewable energy sources, this article summarizes the provisions of utmost importance that have been introduced.  READ FULL ARTICLE

06 Dec 2023 | in ARTICLES, Banking & Finance, by , , and

Law 5072/2023 on credit servicers and the re-introduction of market conform asset protection scheme for banks (“Hercules”)(in Greek)

On 04.12.2023 Law 5072/2023 (the “New NPL Law”) was published in the Government Gazette. The New NPL Law re-introduced program "Hercules", transposed Directive 2021/2167 on credit purchasers and credit servicers into Greek law and replaced the former NPL law, i.e. law 4354/2015. Among other changes to the NPLs market, under the newly introduced scheme the credit servicer and the credit purchasers have several additional obligations towards borrowers, as well as increased reporting obligations to the competent authorities compared to the previous regime. READ FULL ARTICLE

23 Nov 2023 | in ARTICLES, Tax law, by

New Decision of the Independent Authority for Public Revenue (IAPR) Links Tax and Business Registries (in Greek)

On October 10, 2023, the Independent Authority for Public Revenue (IAPR) published Decision 1151/2023 for the interconnection of the Tax and Business Registries. From 11 October 2023, the IAPR registry will be automatically updated in relation to a number of company changes of Sociétés Anonymes registered in the General Commercial Registry (GEMI). This article offers an overview of the aforementioned Decision and its impact on data integration. READ FULL ARTICLE

07 Nov 2023 | in ARTICLES, Corporate law, by

Single-member Sociétés Anonymes and Shareholder disclosure obligations (in Greek)

The Ministry of Development has recently issued circular no. 82772/18.09.2023 providing clarifications regarding the disclosure requirements of single-member Sociétés Anonymes. This article provides an overview of these requirements, focusing on the obligation of single-member Sociétés Anonymes to publish the details of their sole shareholder in the General Commercial Registry ("G.E.MI."), and the respective formalities that should be observed on a case-by-case basis. READ FULL ARTICLE

19 Oct 2023 | in ARTICLES, Public law – Public procurement, by

Civil liability of public authorities in the context of a RES investment as per recent judgment of the Council of State

The civil liability of a municipality in the context of lawsuit proceedings stemming from the cancellation of a RES investment due to unlawful acts and omissions of said public authority was examined by the Council of the State in its recent judgement no. 460/2023. Τhe court’s interesting reasoning particularly regarding indemnification of lost profit is briefly explored in this interesting article. READ FULL ARTICLE

09 Oct 2023 | in ARTICLES, Competition law, by and

Foreign Subsidies Regulation is here: What you need to know for M&A

On 12 January 2023, the European Union’s Foreign Subsidies Regulation (“FSR”) entered into force, and it has already started to apply on 12 July 2023. The impact of the FSR will be significant, in particular for M&A transactions, given that it will result in a substantial burden for businesses. In this article we provide an overview of the basic concepts of the FSR and its implications and suggest ways companies can prepare in order to comply with the relevant regulatory burdens. READ FULL ARTICLE

06 Oct 2023 | in ARTICLES, Employment law, by and

A Comprehensive Review of the Provisions in Employment Law 5053/2023

Law 5053/2023, which entered into force on 26.09.2023, introduces important reforms in relation to employment relationships under Greek law and certain relevant administrative procedures. Apart from the transposition of Directive (EU) 2019/1152 on transparent and predictable working conditions, the Law regulates among others for the first time the on-demand employment, modifies key provisions for the probation period, enables parallel employment and work on Saturdays under certain conditions, and simplifies certain declaration obligations related to Information System ERGANI II. In this article, you can find a brief yet enlightening review of the issues above. READ FULL ARTICLE

11 Sep 2023 | in ARTICLES, Competition law, by and

Digital Markets Act: the first six digital “gatekeepers” have been designated

On 6 September 2023, the European Commission designated the first six online platforms as “gatekeepers” under the DMA. This designation entails specific responsibilities for the designated undertakings who must adopt measures to comply with the obligations imposed by the DMA. In order for a digital platform to be designated as a gatekeeper, certain substantive and quantitative criteria must be fulfilled. The article provides an overview of the relevant regulatory framework, the criteria for the "gatekeepers’" designation, their obligations, as well as the European Commission's powers for the enforcement of the DMA READ FULL ARTICLE

27 Jul 2023 | in ARTICLES, Personal data protection - Intellectual Property, by and

The European Commission’s New Adequacy Decision for EU – US data flows

The European Commission has recently adopted a new Adequacy Decision on the EU-US Data Privacy Framework (DPF) in relation to data transfers to the US. The adoption of this Adequacy Decision follows years of negotiations between the EU and the US, after the invalidation of the Privacy Shield. Ιn this article, you may find the new provisions of the EU-US DPF and its implementation. READ FULL ARTICLE

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