Opening of the Resolution Procedure (article 99 of the Greek Bankruptcy Code)
Thessaloniki Court of First Instance, through its no.10217/2019 judgement, accepted for the first time a sport limited company’s petition for opening of the resolution procedure (article 99 of the Greek Bankruptcy Code). The Court held in its judgement that the submission of the above petition by a sport limited company doesn’t breach the article 35 par.1 of the Greek Football Game Regulation. Even though the above article provides that the resolution of every dispute arising from the implementation and interpretation of the Regulation, the statute and the regulations of EPO must be done exclusively by Football Institutions, prohibiting at the same time bringing an action before the civil or administrative courts, the Court held in its above judgement that the regulations made by the Sport Federation of each sport or the relevant sport sector (therefore the article 35 par.1 of the Greek Football Game Regulation, too), as rules adopted by a legal person governed by private law, belong to the field of private law and therefore they don’t apply as substantive law. On the contrary, the provisions of the Greek Bankruptcy Code apply as mandatory. Subsequently, the Court accepted the above company’s petition and decided the opening of the resolution procedure.