GREECE Law and Practice Contributed by: Ilias G. Anagnostopoulos and Padelis V. Bratis, ANAGNOSTOPOULOS
offences are also included in special criminal legisla - tion. Civil Law As a rule, the right to file a civil action lapses after 20 years from the date that the pertinent claims were born and could be judicially pursued (Articles 249 and 252 GCivC). However, if the wrongful civil act that gave rise to the respective claims constitutes, in parallel, a criminal offence, which is subject to a longer limitation period, preclusion of civil claims follows the latter statute of limitations (Article 937 GCivC). For certain categories of civil claims, the applicable limitation period for their judicial pursuit is significantly shorter, namely five years, beginning from the date these were born (Article 250 GCivC). 1.5 Proprietary Claims Against Property A fraud victim may file an action in tort against the defendant with the competent civil court of first instance, seeking restitution for the loss or damage sustained (Article 914 et seq GCivC). Damages shall be awarded as compensation for the pecuniary harm caused by the defendant, possibly including loss of profits. It should be noted that moral damages could also be awarded in the form of compensation due to non-pecuniary harm as a result of the unlawful behaviour (please see also 1.2 Causes of Action After Receipt of a Bribe ). Under Greek insolvency proceedings, there are no established preferential rights of creditors who are victims of fraud. Proceeds of Fraud All assets deriving from the commission of fraud (pred - icate offence to money laundering), acquired directly or indirectly from the proceeds of such offence, or which constitute the means that were used or were going to be used in committing such offence, are sub - ject to confiscation and forfeiture. Any legal act con - cerning confiscated property is prohibited and shall be considered as null and void (Articles 174–176 GCivC).
Proceeds of crime may be returned to the victims of fraud by a court decision; otherwise, they are consid - ered property of the Greek State. 1.6 Rules of Pre-Action Conduct Civil Proceedings There are no general preconditions for the claimant before taking judicial action in a fraud case. However, in practice it is rather common for an extrajudicial declaration to be sent to the opposing litigant, with a request for restitution of damage, prior to filing a lawsuit. Criminal Proceedings From a criminal law perspective, Article 405 GCC pro - vides that no criminal sanctions are imposed if the perpetrator, of their own will, fully compensates the injured party, before being examined as a suspect or defendant, and without causing unlawful harm to a third party. 1.7 Prevention of Defendants Dissipating or Secreting Assets Effect of Interim Measures The Greek Code of Civil Procedure (GCCivP) contains various provisions, allowing the plaintiff to apply – even before the commencement of ordinary proceedings – for an interim injunction or provisional order against the opposing party, in order to freeze movable or real estate assets (or rights in rem over such assets) as well as claims with respect to them (Articles 682 et seq, 707 et seq GCCivP). The range of such injunctions is wide, so the com - petent court has the discretion to shape them in the most appropriate manner. The plaintiff needs to prove the urgent character of the requested measures, while injunctions that have been granted prior to the com - mencement of ordinary proceedings automatically cease to exist, unless an action is filed by the plaintiff within 30 days or within the timeframe instructed by the court. Greek courts order the unsuccessful litigant to pay costs of the proceedings, which, as a rule, are of nom - inal value and cover a small part of the actual costs incurred by the winning party.
141 CHAMBERS.COM
Powered by FlippingBook