GREECE Law and Practice Contributed by: Vassilios Moussas, Charalampos Kondis, Christina Grigoriadou and Konstantina Margariti, Moussas & Partners
decisions) – constitute a judicial document that can be enforced. In out-of-court settlements, if the parties have an interest in vesting the settlement with exequatur in order to enforce it later, they can submit the settlement agreement for court approval. 8.4 Setting Aside Settlement Agreements A settlement agreement may be set aside if: • the facts, on the basis of which the settle- ment was reached, are not true; and • the dispute would not have been created had the parties been aware of the incorrect basis of the settlement. 9. Damages and Judgment 9.1 Awards Available to the Successful Litigant There are three forms of award available to a successful litigant: • a declaratory judgment of a right or obligation of a party; • a judgment ordering a party to perform a specific act; and • a formative judgment modifying an existing legal relationship and creating a new legal status. 9.2 Rules Regarding Damages Courts may award damages up to the amount requested and proved by the plaintiff. The courts do not have the authority to award any amount beyond that threshold or any special damages. Courts may award pecuniary relief in the form of compensation for direct damages (including loss of profit) and moral restitution. Only in certain circumstances may the courts adjudicate mon-
etary compensation for pain and suffering to a limited group of people (ie, the close relatives of the victim of wrongful death). The legal system does not recognise punitive damages and, if damages of such nature have been agreed, the court mitigates them to a fair and reasonable extent. 9.3 Pre-judgment and Post-judgment Interest All judgments awarding monetary relief bear interest. The debtor has the right to ask for default interest at the level set by law or contract. The debtor, even if not in default, is liable to pay legal interest (“litigation interest”) accruing from the date that: • the lawsuit was served; or • the payment order for the debt is due and payable. The percentage of litigation interest is 2% higher than the default interest rate. The latter is fixed periodically by statute. As of the date a final judgment awarding dam- ages with interest is published, the percentage of litigation interest is 3% higher than the default interest rate. 9.4 Enforcement Mechanisms of a Domestic Judgment An enforceable title is required for the enforce- ment of a domestic judgment. The enforcement is exercised by an individual who is entitled to do so. Such individual gives the corresponding order to a bailiff and speci- fies the way in which the order will be enforced – and, if possible, on which items – in the official
512 CHAMBERS.COM
Powered by FlippingBook