All That Should Be Known to Those Who Want to Join the Extrajudicial Debt Settlement Mechanism | Greek economy

Joint Ministerial Decision of the Ministries of the Economy, Labor and the Economy, to Give a Second Chance to Debtors Wishing to Join the Alternative Dispute Resolution Mechanism

The Joint Ministerial Decision should be published soon in Government Review and put into effect

According to the joint ministerial decision, the debtors of pending applications have the opportunity to correct and supplement their original claim (19659002) On the basis of the JMC plan, the following matters are regulated:

Completion

• The details of the application may be completed if the debtor, coordinator or participating creditor notes the absence, until the date limit
  • For the corresponding shortage, if the debtor or the participating creditor is aware, the coordinator, who sets a deadline of 10 days for r the debtor fulfills the defect,

  Examination Procedure for Extension Applications

  At any time during the negotiation process, the applicant may, at the time of the negotiation process: the parties concerned ( debtor, participating creditors, expert) may request an extension of the legal period. The application includes:

  (a) specific action for the deadline for which an extension is sought
  (b) the extension period, and
  (19659002) Possibility of suppression of the application and of new presentation

  If, during the proceedings and up to the submission of the counter-proposals by the applicant, creditors, it is found that & # 39; 39, there are gaps or errors in the application which, at the time of their detection, can not be corrected by entering and / or modifying the data in the electronic platform of an out-of-court dispute resolution mechanism. debts. (19659014) The deletion of the application does not result in the loss of the applicant's basic data (VAT number, name, address) of the request to the Special Secretariat for the Management of Private Debt, it is possible to delete her request while she is subject to the electronic platform. which are always kept on the electronic platform, nor the only number received by the application, which is always attached to the application and after it has been submitted again

• As soon as he has knowledge irregularities or errors, the coordinator informs the debtor, notifying the creditors of the existence of irregularities or errors, and invites the debtor to: within 10 days, to send a request for deletion of the request and its new presentation
• The debtor must submit a written request to the EPO within the aforementioned period to rule on the non-existence of a correction of the error and / or defects in any other manner and decides to cancel the application and resubmit it, and may, at its reasonable discretion, set a deadline for the cancellation and redefinition of the debtor
• By the same procedure, the debtors of outstanding claims may request the surrender of the application and resubmit it to include the debts that are subject to the settlement, that is, the debts that arose up to December 31, 2017.
• In case of cancellation of the request, the procedure is relaunched by checking again the completeness of the request by the coordinator

New deadlines

Completion of the conformity check of the application and the documents of the application. accompaniment by the coordinator must be carried out within 10 days of the acceptance of the appointment. The coordinator must complete the required percentage of the quorum of participating creditors within five days after the expiration of the ten days following notification of the creditors' appeal. The deadline for the invitation of participating creditors to vote on the initial proposal for settlement of the debtor is set at 5 days after the deadline for submitting counterclaims.

Deadline for submission of additional information

The deadline for submission of additional supporting documents is 5 days after the submission of the corresponding application to the debtor by the participating creditor. The debtor's refusal to provide them, if requested by a participating creditor representing a percentage of the total claims against the debtor of less than 25%, may be expressed within this five-day period. In case of disagreement, and if 60% of the creditors decide to submit the paper, the debtor is granted a new period of 5 days from the notification of the majority decision by email to the debtor. In the event of a new denial of the debtor, the procedure is deemed to be unsuccessful and the coordinator draws up a report of the failure of the procedure within ten days of the debtor's refusal.

Current Debts and Exemptions of Debtors

The Debtor Stage of Proceedings and Up to the End of Voting for a Restructuring Agreement May Terminate Its Outstanding Application for Any Reason . Subsequently, the EPGIH suspends the application on the electronic platform, however, the debtor's data is still kept for 3 years.

^{Source: RES-MEP}