ECONOMY

Protection to go on after Katseli law

protection-to-go-on-after-katseli-law

The suspension of auctions of main residences (protected by legislation that expires on December 31) will effectively continue in the coming year, Special Secretary for Private Debt Management Fotis Kourmousis implied on Thursday at an event organized by consumer association EKPOIZO.

Although the law introduced by former economy minister Louka Katseli has not been officially extended, the government expects to reach an agreement with its creditors on a new protection framework in January, while the examination of debtors’ applications is proceeding at a particularly slow pace.

Kourmousis stated that borrowers can also apply for protection of their main residences from auctions under the Katseli law after January 1, as it would lead to an injunction temporarily protecting their homes until their applications are examined by the courts.