Table of Contents
XVI
Greek Business Law
A Handbook for Businesses and Legal Practitioners
14.10. Ranking of creditors in bankruptcy procedures
.....................................................................74
14.11. Liability of a director, parent company (domestic or foreign)
or other party for the debts of an insolvent company
.......................................................74
14.12. Setting aside transactions of a company that becomes insolvent
..............................75
PART III: LAW OF BUSINESS ORGANISATIONS
15. Business Organisations
.......................................................................................................................77
15.1. Company Limited by Shares (
Société Anonyme
or SA)
.........................................................77
15.1.1. Formation of a SA
..........................................................................................................................77
15.1.2. Share capital
....................................................................................................................................78
15.1.3. General Meeting of Shareholders (GMS)
.............................................................................79
15.1.4. Key rights, duties and liabilities of the shareholder
.......................................................80
15.1.5. Rights of minority shareholders
..............................................................................................82
15.1.6. Board of Directors (BoD)
.............................................................................................................83
15.1.7. Accounting books and records
................................................................................................84
15.1.8. Audit requirements
.......................................................................................................................85
15.1.9. Government supervision
............................................................................................................85
15.1.10. Transfer of non-listed shares
..................................................................................................86
15.1.11. Transfer of listed shares
............................................................................................................86
15.2. Company with Limited Liability (Eteria Periorismenis Efthynis or EPE)
.......................87
15.2.1. Formation of an EPE
.....................................................................................................................87
15.2.2. Capital and units
............................................................................................................................88
15.2.3. Administration
................................................................................................................................88
15.2.4. Partners’ meeting
...........................................................................................................................89
15.2.5. Accounting Books and Records
...............................................................................................90
15.2.6. Audit requirements
.......................................................................................................................90
15.2.7. Reporting requirements
..............................................................................................................90
15.2.8. Distribution of profits
...................................................................................................................90
15.2.9. Liquidation
........................................................................................................................................91
15.3. Private Company (Idiotiki Kefaleouhiki Eteria or IKE)
.............................................................91
15.3.1. Formation of an IKE
......................................................................................................................91
15.3.2. Duration
.............................................................................................................................................92
15.3.3. Capital and units
............................................................................................................................92
15.3.4. Administration
................................................................................................................................93
15.3.5. Partners’ meeting
...........................................................................................................................93
