GREECE Trends and Developments Contributed by: Dimitris Babiniotis, Zepos & Yannopoulos
Practical guidance for practitioners Practitioners are well-advised to take the following guidance into consideration in respect of the 2019 Hague Convention. • Awareness of grounds for refusal – practitioners should be well-versed in the specific grounds for refusal outlined in the 2019 Hague Convention, so as to effectively advise clients and navigate poten - tial challenges. • Advising on legal strategies – practitioners should counsel clients on the benefits and limitations of relying on the 2019 Hague Convention for enforce - ment, including strategic considerations for choos - ing jurisdictions in cross-border contracts and disputes. Conclusion The recent judicial decisions and the enactment of Law 5016/2023, alongside the entry into force of the 2019 Hague Convention, represent significant devel - opments in the Greek arbitration and enforcement landscape. Law 5016/2023 represents a significant advancement in the Greek arbitration framework, while the 2019 Hague Convention further broadens the scope of enforceable foreign decisions, solidifying Greece’s commitment to international legal standards. The Supreme Court’s judgment No 805/2021 and the Agrinio court’s decision on cryptocurrency payments underscore the procedural nuances and public policy in the enforcement of arbitral awards. The decision by Greece’s Conseil d’État to apply the principles of Achmea to a commercial arbitration clause in a concession agreement has significant implications for the arbitration landscape in Greece and the EU. This approach risks undermining the effectiveness of commercial arbitration and could discourage foreign investment. It is crucial for practitioners to carefully navigate these developments and advocate for a more nuanced application of EU law principles in arbitra - tion-related disputes.
The unconditional application of the New York Con - vention set out in Article 45 (1) of the new arbitration law ensures the broad enforceability of foreign arbi - tral awards, removing traditional preconditions and broadening the scope of enforcement. Together, these provisions strengthen Greece’s position as a reliable and attractive jurisdiction for international arbitration. Practitioners should leverage the flexibility and robust - ness provided by these articles to draft and enforce arbitration agreements effectively. As Greece continues to refine its arbitration laws and practices, staying informed about these trends and developments will be crucial for effectively manag - ing arbitration proceedings and ensuring the enforce - ability of arbitral awards and foreign judgments. For clients and practitioners involved in arbitration and litigation in Greece, these changes provide a robust legal framework that supports the efficient and fair resolution of disputes.
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