Draft law: E-auctions only in Greece as of Feb. 2018

10 January 2018
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A closely watched omnibus draft bill that includes a handful of “prior actions” demanded by creditors, in order to conclude a third review of the ongoing bailout, features a provision for holding only “electronic auctions” of foreclosed property in the country.

The draft legislation was tabled in Parliament for debate on Tuesday afternoon, about an hour before the prime-time evening newscasts in the country.

The measure aims to overcome protests, mobilizations and red tape associated with the holding of such auctions in crisis-battered Greece over recent years.
The commencement date for the e-auction-only regime is Feb. 21, 2018.

The measure affects all auctions, regardless of when a foreclosure notice was imposed.

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