GREECE Law and Practice Contributed by: Betty Smyrniou, Bahas, Gramatidis & Partners
2.8.4 Duration of Deregistration Process The deregistration process typically takes a couple of days when there are no disputes. In the event of dispute, the timeframe varies depending on whether the lessee resorts to legal action. 2.8.5 Aviation Authority’s Assurances The Greek aircraft register will not provide advance written assurances to an aircraft owner, mortgagee or lessor as to the prompt deregistration of the aircraft until all the required documentation is filed with the executed request. 2.8.6 Costs, Fees and Taxes Relating to Deregistration The fees charged by the aircraft register in respect of the deregistration of an aircraft are nominal. 2.8.7 Deregistration Power of Attorney The DerPoA must be written in Greek, be irrevocable and bear specific wording. It also requires notarisa - tion. 2.8.8 Documents Required to Enforce Deregistration Power of Attorney To enforce a DerPoA, besides paying the nominal fees, a copy of the DerPoA must be submitted to the HCAA along with customs documentation (if applicable) and termination documentation. 2.8.9 Choice of Laws Governing Deregistration Power of Attorney Greek law is applicable to the DerPoA. 2.8.10 Revocation of a Deregistration Power of Attorney The grantor of the DerPoA cannot revoke it without consent of the beneficiaries. 2.8.11 Owner’s/Lessor’s Consent An aircraft owner, mortgagee or lessor can export the aircraft without the lessee’s consent, on the basis of the DerPoA. A mortgagee can export the aircraft without the owner or lessor’s consent on the basis of the DerPoA.
To enhance the probability of exporting the aircraft without the lessee’s consent, the owner, mortgagee or lessor should request a DerPoA during lease or mortgage negotiations. While the asset does not necessarily need to be in Greece at the time of deregistration, its location may become significant in certain customs export cases. 2.8.12 Aircraft Export Permits/Licences Typically, Greece does not issue aircraft export per - mits or licences, except in instances of customs export permits. These permits cannot be issued in advance. 2.8.13 Costs, Fees and Taxes Concerning Export of Aircraft The costs/fees/taxes that are charged in respect of the customs export of an aircraft are not significant. 2.8.14 Practical Issues Related to Deregistration of Aircraft There are no other significant practical issues that an aircraft owner, mortgagee or lessor should be aware of in respect of the deregistration of aircraft in Greece. 2.9 Insolvency Proceedings 2.9.1 Overview of Relevant Laws and Statutory Regimes Governing Restructurings, Reorganisations, Insolvencies and Liquidations The main law on bankruptcy and insolvency is Law 4738/2020. This newly enacted Greek law, titled “Debt Settlement and Facilitation of a Second Chance”, came into effect on 1 January 2021. It transposes the provisions of Directive (EU) 1023/2019 on preventative restructuring into the law, replaces the majority of the previous debt settlement mechanisms and restructuring schemes, and intro - duces a new regime dealing with various forms of personal and corporate insolvencies. Liquidation and administration are also governed by the laws on the relevant corporate entities and by the Civil Procedure Code.
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