ATHENS JUSTICE COURT
Formed by Justice of the Peace A. K. and Secretary A. K.
He/She sat down. publicly in his audience on 24.2.2017 to try the case:
OF THE APPLICANT: A. S. of N., who appeared with her attorney-at-law Saint Zervea.
THE APPLICATION OF: 1. a public limited company with the name "PIRAEUS BANK S.A.".
- a limited liability banking company with the name "AGRICULTURAL BANK OF HELLENIC UNION".
- a public limited company with the name "NATIONAL BANK OF GREECE S.A."
- a public limited company with the name "EUROBANK ERGASIAS SA".
With the application under consideration, the applicant, citing a lack of bankruptcy capacity and a permanent inability to pay her overdue financial debts, requests their settlement by the court with the exception of the sale of her main residence, according to the plan proposed by her.
With this content and request, the application under consideration is brought before this court for discussion. For the admissibility of the application, the stage of out-of-court settlement provided for by the old provision of par. 2 of article 4 of Law 3869/2010 was observed, while its obligation to provide updated information referred to in paragraphs 1 and 2 of article 4 of Law 3869/2010 was also observed. Furthermore, the application under consideration, which includes all the necessary information provided for by art. 4 par. 1 of Law 3869/2010, is sufficiently defined.
From the impartial examination of the applicant, from the documents relied on and submitted by the parties and from the lessons of common experience taken into account ex officio by the Court in combination with the ex officio investigation of the facts and the oral proceedings at the hearing, the following was demonstrated:
The applicant was born in 1968, is married, but separated from her second husband (since 2011), has three children (one from her first marriage aged 31 and two more from her second marriage aged 19 and 10) and resides in the Municipality of Vyronas, Attica, in a privately owned residence. Since 2005, she has been working for the company LH and her current monthly net earnings amount to 1,134.05 euros. Her annual family income amounted to approximately 28,000 euros from 2008 to 2010, from 2011 – due to the separation that occurred in her relationship with her husband – it is individual and amounted to 15,100 euros in 2011, 15,500 euros in 2012, 14,800 euros in 2013, 20,600 euros in 2014 and 21,400 euros in 2015. The applicant is the real beneficiary of a full ownership right of 100% of a fifth-floor apartment built in 1976, with a main area of 57.00 sq m. located in the Municipality of Vyronas, Attica. The objective value of the applicant's right to the above property amounts to 45,246.60 euros. The applicant is also the real beneficiary of a right of full ownership of 100% of three parcels of land located in the municipal district of Lekkimmion, Municipality of Lekkimmion, Prefecture of Corfu, 700, 250 and 500 sq.m.
In a year prior to the filing of the application, the applicant had incurred the following debts. The applicant owes a total of 135,909.33 euros and specifically 1) to the first defendant she owes 121,238.42 euros from a) a mortgage loan agreement (101,509.49 euros) b) a debt settlement agreement (19,728.93 euros). Claim no. 1(a) is secured in rem, 2) to the second defendant he owes 11,262.53 euros from a) consumer loan agreement (6,243.18 euros) b) credit card agreement (2,871.93 euros) c) credit card agreement (2,147.42 euros), 3) to the third defendant he owes 1,029.31 euros from a credit card agreement, 4) to the fourth defendant he owes 2,379.07 euros from a credit card agreement.
The applicant received a mortgage loan in 2004 for the purchase of her main residence, and the other loans were for its repair. Since 2011, she has been separated from her husband, as a result of which she has been deprived of part of the family income which had formed the basis for obtaining the above loan products. Her husband's contribution since then has been sufficient to cover part of her living needs, given that the applicant is the one who has custody of her two minor children to this day, but not to cover her monthly loan obligations. In 2011, she tried to settle some of her debts, but to no avail. Since the end of that year, she has been in permanent and general insolvency. This inability is not due to her own fault, nor have subsequent incidents been proven to constitute a demonstration of abusive behavior on her part in fulfilling her obligations, given that her current annual income has increased compared to recent years, but her family needs have also increased, mainly due to the cost of raising her minor children. The estimated minimum monthly living costs of the applicant and her two children currently amount to approximately 950 euros. Therefore, the amount to be made available to her creditors will amount to 180.00 euros per month. Given that the applicant does not have any significant assets other than her primary residence, the court must arrange monthly payments from her income for a period of five years in partial repayment of her debts. Therefore, monthly payments of 180.00 euros should be determined over a period of five years, which will be paid in proportion to the claims referred to in this decision. After the end of the five years, the applicant will have paid an amount of 10,800 euros from the above cause.
Furthermore, within the framework of the provision of article 9 par. 1 of Law 3869/2010 on the sale of debtors' property, the court finds that the offer for sale of the applicant's other assets, based on common experience and logic and taking into account current market conditions, does not appear to be capable of provoking purchasing interest, nor an expectation of receiving a corresponding consideration. Therefore, the aforementioned assets must be excluded from the sale.
Finally, in accordance with the provision of article 9 par. 2 of Law 3869/2010, after its replacement by article 17 of Law 4161/2013, in order to save her main residence, an arrangement should be made to satisfy her creditors, which will amount to a total amount corresponding to 80% of the objective value of the applicant's right thereto. The value of the applicant's right over the above residence amounts to 45,246.60 euros. Therefore, in order to save her main residence, she should pay 80% of the objective value of the above right, i.e. an amount of 36,197.28 euros. The amount that the applicant will pay under this arrangement will amount to 150.82 euros per month, and the monthly installments will begin to be paid after the completion of the five-year period concerning the arrangement of art. 9 par. 1 of Law 3869/2010, since it is considered that she should be granted a grace period so that she can be consistent with the first arrangement. From the payments for the rescue of her main residence, the secured claim will be preferentially satisfied.
In light of the above, the application under consideration must be accepted in part as well-founded in substance and the applicant's debts must be settled in accordance with what is specifically defined in the operative part of this order. The discharge from her debts towards the defendants included in the list contained in her application will occur by law (art. 11 par. 1 of Law 3869/2010) subject to the proper execution of her obligations.
FOR THESE REASONS
It is trying the second, third and fourth defendants in absentia and in the absence of the other parties.
The application is partially accepted.
It determines the applicant's monthly payments for a period of five years, distributed proportionally to her creditors, in the amount of 180.00 euros, which will be paid within the first three days of each month, starting from the first month after the publication of the decision.
It excludes from the sale the applicant's main residence, namely a fifth-floor apartment, with a main area of 57.00 sq.m., located in the Municipality of Vyronas, Attica, of which the applicant is the real beneficiary of a right of full ownership of 100%.
It orders the applicant to pay, for the rescue of her aforementioned residence, the amount of 36,197.28 euros, which will be paid to her creditors as referred to in the reasoning hereof in 240 monthly installments of 150.82 euros. The payment of these installments will be made within the first five days of each month and is set to begin after the completion of the five-year period concerning the regulation of art. 8 par. 1 of Law 3869/2010, and will be made without compound interest at the average interest rate of a housing loan with the floating interest rate that will apply at the time of repayment, according to the statistical bulletin of the Bank of Greece.
It was judged, decided and published in Athens at the hearing of the Court of Peace on March 10, 2017 by the Justice of the Peace A.K. in an extraordinary and public session, without the parties and their attorneys present.
THE JUSTICE'S SECRETARY
English 
Greek