FinMin: Rise in demand for extrajudicial settlements

An increasing number of citizens are seeking protection for their primary residence using a framework of existing programs such as a new out-of-court mechanism, Finance Minister Christos Staikouras said in a report tabled in Parliament in response to a question by 45 SYRIZA deputies.

In the report, the minister said that 993 applications have been approved by bankruptcy courts, with an accumulated debt of 689.18 million euros.

These applications have been made by owners seeking protection through a sale-and-lease-back scheme.

A total of 67,000 owners have visited the out-of-court e-platform, with 47,500 submitting the necessary paperwork covering debt of €26.6 billion.