June 2014
Liability of a guarantor in a loan agreement
George Psarakis LL.M. (mult.), PgCert
A decision was issued by the Athens Court of First Instance, ordering the suspension of the enforceability of a payment order on behalf of a Credit Institution of the Hellenic Republic, on the ground that the alleged claim is unpaid. It was held that the disintegration of the contribution under Law 128/75 is prohibited and therefore 'the invalidity of the individual amounts affects not only the written proof but also the settlement of the entire claim [...] with the further consequence that it is impossible to determine the actual amount of the debt and, accordingly, the defendant's claim...'.
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