Payment of debts

via the Extra-Judicial Process

The Extra-Judicial Process (Law 4469/017) allows businesses and self-employed persons to settle their debts to the State Organizations (Ministry of Finance-AADE, Social Insurance Fund-EFKA) and to Private Creditors (e.g. Banks) to secure the sustainable continuation of their business activity.

PRIORITY, with the specialized team of business consultants, economists, lawyers and engineers, provides end-to-end support services both in designing and submitting the proposal, as well as in monitoring its approval at every step of the process.

Diagnosis

PRIORITY initially evaluates the existing financial situation of the company or the professional in order to understand its needs and expectations. The evaluation is carried out via interviews and gathering of the necessary supporting documents. At this stage we carry out the introductory training of the debtor, i.e. of the potential beneficiary of the arrangement, trying to fully understand the eligibility to the Extra-Judicial Debt Settlement Process and the crucial aspects to be considered during the next interviews.

Development of potential repayment scenarios

Our consultants, with their experience in completed debt settlement projects via the Extra-Judicial Mechanism:

  • analyze the submitted supporting documents
  • process the information gathered during the interview
  • evaluate the opportunities of the market sector to which the business belongs
  • develop repayment scenarios, ranked according to the probability of materializing.
  • After the scenarios are presented to the potential settlement beneficiary, the strongest repayment scenario, which is part of the business plan, is selected.

Drafting a Business Plan

Our consultants draw up a business plan that includes the business of the potential beneficiary, the market in which it operates, the company's strength/ weakness opportunities / threats (swot analysis). Finally our executives submit the documented proposal for debt settlement to the public and private creditors.

Feasibility study (if required)

PRIORITY takes over the business's feasibility study. The feasibility study is mandatory for large companies and optional for small ones.

Submission of the application to the online platform

PRIORITY consultants submit electronically the application for the debtor and for his / her co-debtors (if any)

Proposal tracking and support

Our consultants undertake:

  • the contact with the coordinator
  • the implementation of a specialized valuation of the debtor's fixed assets and
  • the assessment of the counter-proposals that may be submitted by the creditors.

Assessment of a debt restructuring contract

The PRIORITY executives carry out the final audit of the Debt Restructuring Agreement and inform the debtor in the event of reports that hamper its realization

Support for the implementation of the debt restructuring contract

PRIORITY supports the debtor, for a certain period after the signing of the Debt Restructuring Agreement, aiming to implement the business plan and to timely prevent problems that may pose risks to the smooth repayment.

Eligibility Form

Please fill in the form below to examine your eligibility to join the Extra-judicial process







We collect the above data to contact you and discuss your possible eligibility in the Extra-Judicial Settlement Scheme. For more instructions on how we process your personal information, please see our "Privacy Policy" (http://www.priority.com.gr/dataprivacy). Your data is processed in the context of our communication and is retained in the case of our cooperation only, otherwise it is deleted. For any matter relating to personal data, please contact us either at the company's postal address (49-51 Sofokli Venizelou Avenue, 14123, Lykovrissi) or at the email address (info@priority.com.gr) and we will reply to you as soon as possible.

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