Insolvency Law as a Main Pillar of Market Economy-A Critical Assessment of the Greek Insolvency Law

摘要

In this article, we use the Greek insolvency law and its present status as a raw model for the demonstration of the central role insolvency law generally plays within a given economy. The Greek example amplifies in a particularly instructive way the interrelationship between the functionality of a legal restructuring and liquidation regime, on the one side, and the recovery of a state's overall economic affairs, on the other. We present our thoughts in a way that leads from general deliberations (A and B) to a description of the present Greek insolvency law (C) and finally its critical assessment (D), before we conclude (E). Thereby, we hope to make sufficiently clear that this type of approach to insolvency law is educative for many more jurisdictions than just the example that we have chosen. Copyright (c) 2015 INSOL International and John Wiley & Sons, Ltd