A new record of 1,952 out-of-court settlements was recorded last month, July 2024, in Greece, with the resolved private sector cases corresponding to a nominal value of 518 million euros.
The finance ministry announced the figures on Monday.
Overall, just more than 21,000 such settlements have been achieved since the out-of-court settlement mechanism was instituted in the country, part of an effort to avoid lengthy court delays. The nominal value of settled debts in all extrajudicially resolved cases is 7.2 billion euros.
The process involves private debts and borrowers holding non-performing loans, such as banks or servicers.
According to the ministry, four of the biggest loan servicers – DoValue, Cepal, Intrum and QQuant – recorded more than 5,200 direct settlements with debtors, corresponding to a nominal value of 337 million euros. Most of the settlements involved non-performing mortgages.
Greece’s systemic banks have stakes in many of the servicers active in the country.
