ECONOMY

Another 15 days for Katseli law

another-15-days-for-katseli-law

The Ministry of Justice is considering granting a 15-day extension to debtors who have filed for the protection of their assets through the so-called Katseli law but have not updated their personal data yet on the online platform.

The deadline for updating their data is the end of June, and sources say that through the 15-day extension borrowers will get a final chance to resubmit their online application.

The personal information updates concern the online submission of the protection application on the Special Secretariat for Private Debt Management’s platform, for borrowers to ensure their protection according to the law originally introduced by former economy minister Louka Katseli; that law has now been replaced by the legislation on debt restructuring and the provision of a second chance (i.e. the bankruptcy code).

There were specific deadlines for the online submission of the applications, starting from end-January and concluding at end-June, depending on when the original application had been filed; sources say the extension to be granted will concern all cases, regardless of when their deadline was.