Insolvency/Restructuring

Yianni Cheilas Becomes New Head of Norton Rose Fulbright Greece

Norton Rose Fulbright has appointed Partner Yianni Cheilas as the new Greek offices Head from August 1, 2022. He takes over from Partner Dimitri Sofianopoulos, who will now continue with Norton Rose Fulbright as a Senior Consultant.

DZP Announces Four New Partners

Daniel Chojnacki, Piotr Jackowski, Sylwia Kuca, and Damian Szczygielski have been promoted to Partner at Domanski Zakrzewski Palinka, as of July 1, 2022.

Declaration of Bankruptcy Does Not Relieve CEO of Liability for His Own Activities

The Supreme Court dealt with the liability of the insolvency administrator and the debtor's managing director (CEO) after the declaration of bankruptcy and their obligations to proceed with due managerial care.

Turkish Regulation Enabling Debtors to Sell Their Own Seized Property Entered into Force

Significant amendments were introduced into the Bankruptcy and Enforcement Code numbered 2004 ["BEC”] on November 30, 2021. One of these changes was regarding entitling debtors to sell their own seized property by consent.

KG Advises Danone and Numil Hellas on Corporate Restructuring

Kyriakides Georgopoulos has advised Danone SA and Numil Hellas SA on their corporate restructuring, with Numil Hellas absorbing Danone's business in Greece.

Significant Ruling by Turkish Constitutional Court on Unquantified Debt Lawsuits

Turkish Constitutional Court with its decision with application number 2019/12190, published in the Official Gazette on 20.04.2022, ruled that court decisions on dismissal of unquantified debt lawsuits on procedural grounds violates right to access to court.