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  • Aviation

    ELC pioneered the liberalisation from the monopoly of air transportation related services in Greece, while also creating the foundation for the current ground services at the Athens International Airport and the other large airports throughout the country.

    Eurolegal - Aviation
  • Finance and tax

    In cooperation with certified accountants and tax consultants nationally and internationally, we can help you to sort out your finance assessment and make sure you can dispose of a proper evaluation of assets and of circumstances.

    Eurolegal - Finance and tax
  • General business law

    We are assisting in the creation of dozens of firms of different types for a variety of business purposes. We can help you to set up a proper structure according to your needs and assist you with a holding structure or an acquisition even on a small scale.

    Eurolegal - General business law
  • High technology

    We are very active in providing legal assistance to new expanding sectors of High Technology. One of the world's most prestigious manufacturers of super computers and specialized applications, Silicon Graphics International, turned to us for all necessary legal coverage in the country.

    Eurolegal - High technology
  • Labour law

    We feel it and we deal with it as very, very sensitive! Through our organised strategy we have proved successful in finding solutions that save our clients time and money.

    Eurolegal - Labour law
  • Intellectual property

    Whether you would simply like a check on the registration of a trademark or you wish to register a name, design or patent in Greece, Europe or even Worldwide, our experience and organisation can help you efficiently.

    Eurolegal - Intellectual property
  • Private and family law

    When your private life gets complicated, ELC can help. We have dealt with many cases and know how to find the best solutions offered in Greece and around the world.

    Eurolegal - Private and family law
  • Real estate

    Dozens of land and property buyers have entrusted us with their significant investments. From negotiating to contract preparation and registration, we take care of all your paperwork from A to Z.

    Eurolegal - Real estate

Welcome to the European Legal Consultancy

For comprehensive legal services... think ELC

ELC is one of an exciting new breed of law firms, combining local expertise with an international network of like-minded professional associates.

ELC has extensive legal experience across a broad range of sectors. We offer multi-lingual capabilities to compliment our wide range of specialist services for both commercial enterprises and private individuals. After many years of work and experience, ELC has created a solid, worldwide clientele.

We embrace cutting edge technology which keeps us up-to-date and links us seamlessly with all major domestic and international institutions - including bailiffs, court registrars, international organisations and the European Commission - but we never forget the importance of regular face-to-face meetings.

Our pricing is fully inclusive, honest, and transparent, with no hidden extras.

We are happy to offer you an initial consultation and quotation completely free of charge. Contact us now to find out more about how we can help.

Your visit to this web site and our exchange of correspondence do not imply acceptance by our Law firm to handle or to defend your case.

The ECHR ruled in a pilot case that the Greek bond haircut was legal.

The “haircut” on bonds held by individuals geared to restructuring the Greek public debt during the crisis did not violate their property rights
In today’s Chamber judgment (21st of July 2016)  in the case of Mamatas and Others v. Greece (application
nos. 63066/14, 64297/14 and 66106/14) the European Court of Human Rights held, unanimously that there had been:
no violation of Article 1 of Protocol No. 1 (protection of property) to the European Convention on Human Rights;
no violation of Article 14 (prohibition of discrimination) of the Convention, in conjunction with Article 1 of Protocol No. 1 to the Convention.
The case concerned the forcible participation by the applicants, who are private individuals holding Greek State bonds, in the effort to reduce the Greek public debt by exchanging their bonds for other debt instruments of lesser value. In 2012 a new law amended the conditions governing the bonds by dint of Collective Action Clauses enabling bond-holders to conclude a collective agreement with the State, deciding by an enhanced majority. That majority having been obtained thanks, in particular, to the participation of the institutional investors (banks and credit organisations), the new conditions came into force in respect of all bond-holders, including the applicants, despite the latter’s refusal. Their bonds were cancelled and replaced by new securities worth 53.5% less in terms of nominal value. This forcible participation amounted to an interference with the applicants’ right to respect for their property for the purposes of Article 1 of Protocol No. 1 to the Convention. Nevertheless, that interference pursued a public-interest aim, that is to say preserving economic stability and
restructuring the national debt, at a time when Greece was engulfed in a serious economic crisis. The Court therefore held that the applicants had not suffered any special or excessive burden, in view, particularly, of the States’ wide margin of appreciation in that sphere and of the reduction of the commercial value of the bonds, which had already been affected by the reduced solvency of the State, which would probably have been unable to honour its obligations under the clauses included in the old bonds before the entry into force of the new Law. The Court also considered that the collective action clauses and the restructuring of the public debt had represented an appropriate and necessary means of reducing the public debt and saving the State from bankruptcy, that investing in bonds was never risk-free and that the applicants should have been aware of the
vagaries  of the financial market and the risk of a possible drop in the value of their bonds, considering the Greek deficit and the country’s large debt, even before the 2009 crisis. The Court also found that the bond exchange procedure had not been discriminatory, in particular because of the difficulty of locating bond-holders on such a volatile market, the difficulty of establishing precise criteria for differentiating between bond-holders, the risk of jeopardizbing the whole operation, with disastrous consequences for the economy, and the need to act rapidly in order to restructure the debt.

Under Articles 43 and 44 of the Convention, this Chamber judgment is not final. During the three-month period following its delivery, any party may request that the case be referred to the Grand Chamber of the Court. If such a request is made, a panel of five judges considers whether the case deserves further examination. In that event, the Grand Chamber will hear the case and deliver a final judgment. If the referral request is refused, the Chamber judgment will become final on that day. Once a judgment becomes final, it is transmitted to the Committee of Ministers of the Council of Europe for supervision of its execution.

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