BUSINESS

The bankruptcy system has never really worked in Albania and it has been practicably impossible for companies to finalize bankruptcy proceedings and be declared officially bankrupt.The main reason of such difficulties was the existence of a bankruptcy law, purely written or translated from the respective German one, the implementation of which turned out to be […]

Over the last seven years, Greece has been under an austerity restructuring programme, receiving extended aid from European financial institutions and international creditors in an attempt to tackle its overly high deficits and incessant market stagnation. 2016 did not seem to get off to a flying start when it comes to financial markets and, in […]

It is commonly accepted that the financial, social, and political transition of Albaniainto the post-communistera not only failed to address a major long-standing problem related to private property rights, but actually furtherjumbled up real estate ownership relationships.The fuzzy legal framework governing property rights and the absence of a proper administration systemremainmajor obstaclesto the growth of […]

It is common ground that the financial, social and political transition of Albania into the post-communist era not only failed to address a major long-standing problem related to private property rights, but it has allegedly further jumbled up real estate ownership relationships. The fuzzy legal framework governing property rights and the absence of a proper […]

The vast number of non-performing loans (“NPLs”), i.e. loans not paid for over 90 days – exceeding at times 2.000.000 in number – has created over the past 6 years an enormousburden on Greek economy hampering even more its recovery. Each of the “memoranda” implemented during the last years explicitly provided for Greek bank recapitalizations […]

The recognition and enforcement of foreign judgments in Romania follow different judicial procedures depending on whether the initial court order was issued by the courts of law of a EU or a non-EU member state. Recognition and enforcement of judgments pronounced by the law courts of a non-EU jurisdiction depart from the EU regulatory framework […]

The absence of a stable and predictable regulatory framework in Albania undoubtedly accounts for the country’s financial instability and stagnant development. The possibility of an upcoming tumble in the national economy calls for reforming one of the most vital national legislative sectors: concessions and PPPs. The law on concessions and PPPs has been amended several […]

Following six months of slow-track negotiations between Greece and its international creditors, an agreement between the parties on a new bailout program has now reached a finish line. In witness of the agreement, Greece’s government submitted at the negotiating table a list of overhauls and policy commitments to be implemented in consultation with EC, ECB […]