Greece - Attachment of Assets
Gregory J. Timagenis, LL.M, Ph.D(Lon), Attorney-at-law, Piraeus, Law Office Gr. J. Timagenis
Originally from Attachment of Assets
General Nature and Effect
1. What is the general nature and effect of judicial measures available for plaintiffs to obtain provisional relief affecting property of debtors to obtain security for judgments to be obtained (“attachments”)? Freezing property in place? Placing it in the custody of a third party, such as a court official, sheriff or marshal?
1. Sources of Law*
(a) The Greek Code of Civil Procedure (CCP) in its 5th Book contains provisions (articles 682-738) regulating the provisional judicial relief (security measures) in the context of which attachments may be obtained and these provisions are the sedes materiae of this subject.
(b) Relevant to this subject is EU Council Regulation (EC) No 44/2001 of 22 December 2000 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (hereinafter “Regulation 44/2001”). This Regulation provides the basis of jurisdiction for the Courts of the EU Member States for disputes falling within its material and territorial scope of its application. Identical provisions exist in the “Convention on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters” adopted in Lugano on 30 October 2007 (Lugano Convention 2007) and regulates the relations of EU Member States and states members of the European Free Trade Association (EFTA), which are not EU members like Switzerland and Iceland. For countries to which Regulation 44/2001 or the Lugano Convention 2007 do not apply their relations with Greece are still governed by the Greek Code of Civil Procedure.