GREECE Law and Practice Contributed by: John Dryllerakis, Claire Sergaki and Vasileios Plakoulas, Dryllerakis Law Firm
property or bank accounts destined to serve a public purpose. It is also noted that, pursuant to Article 923 of the Greek Code of Civil Procedure, any entity wishing to initiate enforcement proceedings against a foreign state shall not do so unless it has been granted prior permission from the Greek Minister of Justice. 12.3 Approach of the Courts Generally, Greek courts refrain from recognising a for - eign arbitral award as enforceable in Greece when its enforcement would contravene fundamental political, moral, social, legal or economic principles prevailing in the country. That said, a conflict is not automatically established because the award to be recognised or enforced applied a foreign provision that is unknown or inapplicable under Greek law. 13. Miscellaneous 13.1 Class Action or Group Arbitration Unlike some jurisdictions that explicitly allow class actions or group arbitration, Greek arbitration law contains no such provisions. There are mechanisms for collective redress in judicial or mediation proceed - ings, such as group actions under consumer protec - tion laws, but these mechanisms do not extend to arbitration. 13.2 Ethical Codes Apart from the principles of impartiality and independ - ence described in 4.1 Limits on Selection and 4.4 Challenge and Removal of Arbitrators , there are no mandatory ethical codes for arbitrators under Greek law. An exception to this general rule exists in arbi - tral proceedings conducted in accordance with the Arbitration Rules of the Thessaloniki Bar Association (Presidential Decree No 68/2020), as arbitrators are bound by its mandatory “Code of Conduct for Arbi - trators”. Soft law texts such as the 2024 IBA Guidelines on Conflicts of Interest in International Arbitration and the
2024 UNCITRAL Code of Conduct for Arbitrators in International Investment Dispute Resolution provide useful guidance on best practices, disclosure obliga - tions and the continuous assessment of impartiality and independence throughout the arbitral process. Counsel participating in arbitration proceedings are subject to the professional standards adopted by Law 4194/2013 (Greek Code of Lawyers). 13.3 Third-Party Funding Law 5016/2023 provides no guidance on third-party funding. The possible usage of this scheme in arbitral proceedings in Greece has been the subject of debate, given that provisions to be potentially applied by anal - ogy (eg, Article 60 of the Greek Code of Lawyers on “champerty”) introduce limitations to the third-party funder fees. The upcoming ADR Code is expected to explicitly regulate third-party funding. 13.4 Consolidation As per Article 24.2 of Law 5016/2023, following a par - ty’s application, the arbitral tribunal may consolidate and adjudicate another dispute pending between the parties before the same arbitrators or before another arbitral tribunal (however, the latter is only possible upon the parties’ express agreement). The decision to consolidate shall be issued following the arbitral tribunal’s request to all interested parties to express their views, having regard to all circumstances. As also discussed in 5.6 Jurisdiction Over Third Parties , the forthcoming ADR Code is expected to amend the multiparty arbitration framework, with such reforms potentially extending to the rules governing consolidation proceedings. 13.5 Binding of Third Parties See 5.6 Jurisdiction Over Third Parties regarding the circumstances under which an arbitration agreement may be binding upon third parties. With respect to the res judicata effect of the arbitral award, Article 44.2.c of Law 5016/2023 explicitly stipulates that the arbi - tral award has such effect against third parties only if those parties are bound by the arbitration agreement.
414 CHAMBERS.COM
Powered by FlippingBook