GREECE Trends and Developments Contributed by: John C Dryllerakis, Claire Sergaki and Vasileios Plakoulas, Dryllerakis Law Firm
Dryllerakis Law Firm 5 Chatzigianni Mexi Street Athens, GR 115 28 Greece Tel: +30 211 000 3456 Fax: +30 211 000 5200 Email: lawoffice@dryllerakis.gr Web: www.dryllerakis.gr
Introduction As investments grow in Greece in sectors such as tourism, real estate, energy and infrastructure, the likelihood of commercial disputes rises and, conse - quently, the need for a more efficient and more impar - tial resolution mechanism such as arbitration. There - fore, international arbitration in Greece has steadily grown in popularity in comparison to traditional meth - ods of dispute resolution. Indeed, both domestic and international stakeholders have increasingly turned to arbitration for its efficiency, confidentiality and overall neutrality. Forthcoming legislative reforms are expected to further reshape the framework governing alternative dispute resolution mechanisms in Greece, reinforcing its standing as an increasingly arbitration- and ADR-friendly jurisdiction. At the same time, global geopolitical developments are reshaping the dynamics of dispute resolution. Politi - cal shifts, including a renewed focus on fossil fuels by the US administration and a notable increase in defence spending across Europe and NATO member states, are influencing investment flows and regulato - ry priorities. These shifts are generating new types of disputes, particularly in the energy and defence sec - tors, many of which are likely to be resolved through arbitration. This article delves into the interplay between domes - tic and international trends, examining how these developments are collectively redefining arbitration in Greece as well as offering insight into what parties and arbitration practitioners should anticipate moving forward.
The Forthcoming Code of Alternative Dispute Resolution Within a relatively short period following the enactment of Law 5016/2023, which fundamentally reshaped the framework of international commercial arbitration in Greece, a further substantial reform of the country’s dispute resolution landscape is expected. The Min - istry of Justice is currently preparing a new Code of Alternative Dispute Resolution (the “ADR Code”), which is expected to be submitted to public consulta - tion in the near future. The preparation of the ADR Code reflects a broader policy objective to further promote alternative dis - pute resolution as an effective and reliable means of resolving commercial and civil disputes. According to the information currently available, the ADR Code is intended to consolidate the legislative framework gov - erning alternative dispute resolution in Greece, which is currently dispersed across multiple statutes. The initiative seeks to enhance coherence, accessibility and legal certainty while establishing a more unified regulatory framework for arbitration, mediation and other ADR mechanisms. As far as arbitration is concerned, it has been reported that the ADR Code will depart from the long-standing dualist approach of Greek arbitration law by abolish - ing the provisions of the Greek Code of Civil Proce - dure governing domestic arbitration. Although the draft ADR Code has not yet been made public, vari - ous reports suggest that it will introduce an express regulatory framework for third-party funding in arbi - tration. Reports have also indicated that the existing framework governing multiparty arbitrations may be revisited, including provisions on the joinder of addi -
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