28 Apr 2023 | in ARTICLES, Civil law, by

Provision of investment services: Information extended to the investor and civil liability issues (in Greek)

In providing investment services regarding either simple or complex investment products towards private investors, the providers are expected to rise to certain responsibilities, otherwise liability issues arise, as the recent case law has demonstrated. Under what circumstances is this liability established?READ FULL ARTICLE

21 Mar 2023 | in ARTICLES, Banking & Finance, by and

SVB Bank Collapse and Credit Suisse crisis

Τhe regional banking crisis in the United States has dominated the headlines. Although most EU banks did not have a meaningful exposure to Silicon Valley Bank (SVB), the prospect of a collapsing Credit Suisse (CS), caused turbulence in the Banking sector’s market prices. What caused these recent crises in the US and in Switzerland? What are the lessons learned from them? READ FULL ARTICLE

15 Feb 2023 | in ARTICLES, Public law – Public procurement, by

Civil liability of a local municipality acting as contracting authority in Public Procurement proceedings (in Greek)

The Administrative Court of First Instance of Thessaloniki (decision No. 470/2022) has ruled that, despite the illegal actions of a contracting authority when awarding a public tender to a specific contractor, the disqualified candidate could not claim compensation; in view of the court, the disqualified candidate failed to prove that the tender in question would have been otherwise awarded to them, even though their financial offer was within the set budget. READ FULL ARTICLE

01 Feb 2023 | in ARTICLES, Digital services, by and

Smart contracts introduced into the Greek legislation

In 2022 the term “smart contracts” was introduced into the Greek legal system, when law 4961/2022 expressly recognized transactions made through this novel digital tool, while making use of the blockchain technology. Therefore, we briefly explain the legal characteristics of smart contracts and their integration within the Greek contract law and civil procedure law. READ FULL ARTICLE

27 Jan 2023 | in ARTICLES, Energy, by

New regulatory framework for the development of Offshore Wind Farms (in Greek)

Law 4964/2022 represents the first comprehensive regulatory framework adopted in Greece to date for the development of Offshore Wind Farms, a tool intended to strengthen the country’s energy and climate goals and to introduce a new industry to the national market. The main planning and development aspects of this activity, which will be of particular concern to prospective investors in the coming years, are outlined in the article. READ FULL ARTICLE

12 Jan 2023 | in ARTICLES, Banking & Finance, by

Claims securitization mechanism and the legal status-quo of claims administrators (in Greek)

In 2022 it was highlighted that securitization is not a proceeding reserved only for those involved in the financial sector, but it has a wider scope. In early 2023, the Plenary of the Supreme Court (“Areios Pagos”) is expected to resolve an ambiguity that has arisen and determine whether claim administrators licensed under Law 4354/2015 can initiate judicial proceedings regarding claims securitized under Law 3156/2003.READ FULL ARTICLE

21 Dec 2022 | in ARTICLES, Tax law, by

Shell companies – recent decisions by the Greek Dispute Resolution Directorate (in Greek)

Increasingly, the tax authorities and the Dispute Resolution Directorate (“DRD”) are identifying artificial arrangements aiming to solely obtain tax benefits. Such is the case of a shell company in Bulgaria, which was established as an artificial vehicle to take advantage of the much more favorable Bulgarian income tax rate (DRD decisions No. 1989 and 3167/2022). READ FULL ARTICLE

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