The Law 4469/2017 aims to introduce for the first time in the Greek legal order an organized extrajudicial procedure for the comprehensive and long-term settlement of the debts of Greek businesses.

The authors of the work, understanding the practical importance that this legislative initiative is expected to have in commercial transactions, attempted to respond to the need for a first interpretation and practical specialization of the relevant provisions.

The work specifies with the necessary precision the substantive and procedural conditions for inclusion in the law, while recording in detail all stages of the extrajudicial mechanism.

Among other things, the beneficiaries of inclusion, the debts subject to inclusion, and the eligibility criteria are clarified interpretatively, step-by-step the submission process and the content of the application are recorded, while extensive reference is made to the extrajudicial procedure itself (Appointment of a coordinator, completeness check, notification to creditors, negotiation process, legal consequences).

In line with the course of legislative regulations, the work is completed with the analysis of the process of judicial validation of the debt restructuring agreement, as well as the consequences that non-compliance with it entails.

The annex of legislation and various related texts that follows the interpretative approach of the provisions of Law 4469/2017 makes the work an extremely user-friendly practical manual that is addressed not only to legal professionals but also to the wider public interested in accurately and comprehensively understanding the issues of the extrajudicial mechanism of Law 4469/2017 for the settlement of business debts.