GREECE Law and Practice Contributed by: Panagiotis (Notis) Sardelas, Matina Kagkelari and Aris Sifakis, Sardelas Petsa Law Firm
clause is vague, or enforcing it would violate a manda - tory rule of Greek law). These exceptions are applied narrowly in a commercial context. Hague Convention If the foreign court is in a country that is a signatory to the 2005 Hague Choice of Court Convention (eg, the UK), the Greek courts are obligated to uphold the exclusive jurisdiction clause. Waiver of Immunity The validity and scope of a waiver of immunity depend on whether it concerns immunity from jurisdiction or immunity from enforcement, and on whether the counterparty is a sovereign entity. • An explicit agreement to submit to a foreign juris - diction (or arbitration) is generally considered a valid waiver of jurisdictional immunity in commer - cial matters. • A waiver of immunity from jurisdiction does not automatically imply a waiver of immunity from execution (enforcement) against a state’s assets. • To enforce a judgment against a sovereign entity’s assets in Greece, a separate, explicit and unequiv - ocal waiver of immunity from execution is gener - ally required. Even with a waiver, certain property used for sovereign/public purposes might remain immune from execution unless specifically carved out or the property is clearly used for commercial, not public, purposes. 6.3 Foreign Court Judgments As a rule, both judgments from foreign courts and arbitral awards are enforceable in Greece without a retrial of the merits of the case, provided certain con - ditions are met regarding public policy, due process and the specific jurisdiction where the decision origi - nated. The enforceability of a foreign court judgment in Greece without a retrial depends on the judgment’s origin. • Judgments from EU courts are automatically rec - ognised and directly enforceable in Greece. Greek courts cannot review the merits of the case, and can only refuse recognition on very narrow grounds
(eg, violation of Greek public policy or failure to observe basic due process rights). • Judgments from non-EU countries require a formal exequatur procedure (Articles 323 and 905 of the Greek Code of Civil Procedure) before a Greek court can authorise their enforcement: (a) the Greek court will not retry the merits of the case; (b) it will, however, verify specific criteria – ie, that the foreign court had jurisdiction according to Greek private international law rules, that the defendant was properly served and given a fair hearing (due process), that the judgment is final and binding in its home jurisdiction, and, cru - cially, that its recognition and enforcement do not violate Greek public policy or good morals. • Judgments from countries participating in the 2005 Hague Choice of Court Convention also benefit from streamlined recognition if the parties had an exclusive choice-of-court agreement. Arbitral awards are widely respected and benefit from a more consistent international framework than court judgments. Greece is a signatory to the Convention on the Recognition and Enforcement of Foreign Arbi - tral Awards 1958 (the “New York Convention”). Under this convention, foreign arbitral awards are readily recognised and declared enforceable in Greece via a summary court procedure. The Greek courts cannot review the substance or merits of the arbitral tribu - nal’s decision. Recognition can only be refused on very limited, internationally agreed grounds, such as a violation of Greek public policy, a lack of due process (eg, a party was unable to present their case) or if the arbitration agreement itself was invalid. 6.4 A Foreign Private Credit Lender’s Ability to Enforce Its Rights A foreign private credit lender can generally enforce its rights in the same way as a domestic private credit lender. However, a foreign lender often uses foreign law (eg, English law) for its loan agreement. Greek courts will uphold the foreign law for contractual matters – how - ever, the following should be noted.
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