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bankruptcy

Greece Plans to Scrap Primary Residence Protection, Introduce Individual Bankruptcy

The Greek authorities are planning to introduce to the country's judicial system the institution of individual insolvency, in which a person is able to declare bankruptcy, liquidate his or her property and receive a second chance in life, free...

Spending Galore: Government Continues Tradition that Bankrupted Greece

Greek Prime Minister Alexis Tsipras has unleashed a barrage of promises to voters very much like those that brought him to power in 2015. With European Parliamentary and local governmental elections approaching in May, and national elections looming in autumn,...

Hundreds Stranded on Greek Islands after Danish Carrier Declares Bankruptcy

Primera Air, a Danish leisure airline with flight services from Northern Europe to more than 40 destinations in the Mediterranean, Middle East, and North America, declared bankruptcy on Monday, leaving hundreds of tourists stranded on the Greek islands without...

Greek Tobacco Industry SEKAP on the Verge of Bankruptcy

The possibility of bankruptcy that is to be discussed at an extraordinary board meeting of the Greek tobacco industry SEKAP, is scheduled for Thursday. SEKAP; which is owned by Russian-Greek investor Ivan Savvidis, has been asked by a Komotini Court...

Sophia Amoruso’s Nasty Gal Files for Bankruptcy

One of the youngest self-made millionaire women in the world, Sophia Amoruso, may see her fortune decline as her groundbreaking clothing company Nasty Gal files for bankruptcy. Amoruso founded the company at the suprisingly young age of 22; at 32...

5 Losses Spinning Greece on a Downward Spiral

Austerity measures implemented in Greece as part of its long haul towards redemption have caused social and economic upheaval in the country. Regardless of the cause of the crisis, here are the results of the belt-tightening since 2009 in...

Government Uploads List of Companies and People With Overdue Debts

The name of 13,730 big government debtors were published on the internet, however many of the names of companies on the list have either been sold off, closed down or wiped off their debts.The same list had been publicized...

Warning Sirens Spark Fear for a Total Economic Breakdown

The July 5 referendum a year  ago and subsequent worsening of an already strained market climate for Greece has brought one business closure after another with a new wave of bankruptcies. Warning sirens were sounded for 15,409 businesses in...

U.S. Economist Galbraith Explains Varoufakis' Plan B for Greece

American economist James Galbraith explains in his latest book the Plan B for Greece that was drafted last year by former Greek finance minister Yanis Varoufakis in the event bailout negotiations failed. In his book, "Welcome to the Poisoned Chalice:...

Jetoil: Another Greek Company Files for Bankruptcy

Greek family business, Mamidoil Jetoil, is the latest in a chain of companies filing for bankruptcy according to article 99 of the Bankruptcy Code. The company dealing in storage, transport and trade of petroleum-based products in Greece and the...