Special Procedures in Financial Management

Introduction

The training Course “Special Procedures in Financial Management” is structured into four self-contained teaching/thematic Units, lasting one, two, four and three months respectively. The Course aims to provide in-depth information on new pre-insolvency restructuring procedures, such as the out-of-court debt settlement mechanism for businesses as it will be reshaped under the New Bankruptcy Law currently being voted on, as well as on innovative institutions of Bankruptcy Law, such as the recently enacted discharge of the remaining debts of the honest bankrupt debtor who is a natural person – the “second chance”. The second chance aims to reintegrate thousands of insolvent businesses into entrepreneurship, offering them a fresh start. In addition, the simplified bankruptcy procedure for small businesses is presented. The Course will continue to focus on specialised topics and practical issues of business restructuring at the pre-insolvency stage under the New Bankruptcy Code, such as the prepackaged plan, as well as on the changes to these already published in the relevant Draft of the New Bankruptcy Law. Furthermore, it will address the topic of “Consumer Bankruptcy”, which is now incorporated into the New Bankruptcy Law. On completion of the Course, participants will have gained a holistic understanding of modern bankruptcy law and become familiar with more specialised topics, obtaining a certificate that attests to in-depth knowledge of the subject and its parameters. Entering into contracts is an everyday reality in modern business. Businesses enter into contracts even before they are established. However, in order to survive in today’s economic climate and in the “market” in general, they are required to conclude all kinds of contracts, negotiate their terms, amend them and terminate them at the lowest possible cost or the greatest possible benefit, so that they can survive. Therefore, business owners, and above all business executives who conduct negotiations, must either have a legal adviser at their side at all times (which is impossible) or have the basic knowledge needed, in the early stages of negotiations, to identify the terms that must be agreed in principle, so as to conclude the best possible commercial agreement with the lowest possible risk. This Course provides the necessary legal and, to a certain extent, practical background for achieving the above objectives. The Course presents, analyses and interprets the current institutional framework for the prevention of money laundering and focuses on the obligations and responsibilities of legal entities and their employees, lawyers, accountants and professionals, as well as of the competent supervisory authorities, regarding the measures they must apply for collecting information and exercising supervision. The Course also analyses what transfer pricing is, why it began to be applied in multinational groups and how the transfer pricing process has evolved within the international tax framework. OECD Guidelines for the audit of transfer pricing transactions.

Units

I. Rules for Documenting the Prices of Intra-group Transactions – Transfer Pricing (Duration 1 month / 16 hours / 0.62 ECTS)

II. Legalisation of Proceeds from Criminal Activities (Money Laundering) (Duration 2 months / 19 hours / 0.73 ECTS)

III. The New Bankruptcy Law (Duration 4 months / 71 hours / 2.73 ECTS)

IV. Modern Forms of Contracts: Drafting and Legal Perspective (Duration 3 months / 29 hours / 1.12 ECTS)

Scientific Director

Emmanuel Tsiritakis,

Professor, Department of Banking and Financial Management, University of Piraeus

Target Audience

The course is aimed at:

Students and graduates of schools of economics, business administration, and banking and financial management, accountants, executives of banking institutions, executives of companies dealing with corporate restructuring, law graduates and lawyers specialising in bankruptcy and commercial law, as well as vocational training institute (IEK) students interested in the subject
Business executives who wish to be trained in negotiating and concluding contracts, especially where there is no in-house legal department
Lawyers, notaries, employees of competent authorities, credit institutions, financial organisations and other obliged legal entities, and professionals who, by the nature of their work, need to know the relevant institutional framework
Students, graduates and professionals who wish to work in credit institutions, financial organisations or other companies subject to the obligations of the relevant institutional framework, or to be recruited by the competent authorities responsible for enforcing the relevant rules (Bank of Greece, Hellenic Capital Market Commission, Ministry of Finance, etc.).
Heads of economic and financial departments, executives and heads of accounting departments, bank executives, certified auditors, accountants, tax consultants and, in general, anyone involved in transfer pricing

Admission Requirements

Participants must have:

Basic computer skills
Internet access
A personal email account

Delivery Method

The Course is delivered entirely online through simple educational software (an asynchronous e-learning platform), with digital Educational Material and continuous educational support. Once a candidate has been accepted onto the Course, a user account is created on the e-learning platform, giving access to the Unit of their choice. Within each Unit, the responsible instructor’s electronic Educational Material is posted on the e-learning platform on a weekly basis. The Educational Material includes electronic notes with theory and examples in PDF format, which can be saved and printed so that study is also possible offline. During the Course, assignments or self-assessment tests may be set. Trainees have access, at any time and from anywhere with an Internet connection, to all the activities, information sources and announcements of each Course, and are provided with the instructor’s contact details for resolving queries. Participants should:

study the material and the notes
use the links related to the course material
submit assignments, self-assessment tests and final examination answers

Type of Certificate

Trainees who successfully complete all the Units of the Course are awarded a Training Certificate by KEDIVIM of the University of Piraeus. Trainees who choose to attend only some of the thematic units are awarded a Training Certificate listing the Teaching/Thematic Units successfully completed. Where successful completion of the Course is not possible due to discontinuation of studies or failure in the examinations, the trainee is awarded a Certificate of Attendance by KEDIVIM of the University of Piraeus.

See a sample of the certificates awarded, as applicable, here

Teaching/Thematic Units

1Teaching/Thematic Unit 1: General Accounting and Financial Statements (Balance Sheet, Income Statement and Cash Flows)

1.1 The arm's length principle – Transfer Pricing – Reasons requiring a “Comparability Analysis” – Concept & definition of related parties & group: legislative framework

1.2 OECD Guidelines – Detailed presentation of the provisions in force since 2015 (Laws 4172 & 4174/2013, implementing decisions) – Intra-group transactions (Preparation of documentation files and their content: Master File – Greek Local File) – the obligation to submit a Summary Table

1.3 Analysis of the accepted methods for pricing intra-group transactions – Comparables and their review & the use of databases – Documentation methods

1.4 DOCUMENTATION FILE TEMPLATE – and sample files – Summary Table – ADMINISTRATIVE PENALTIES – Advance approval of transfer pricing methodology (advance tax ruling

2Teaching/Thematic Unit 2: Legalisation of Proceeds from Criminal Activities (Money Laundering)

2.1 Introduction to basic concepts, the international and EU framework

2.2 Regulatory framework, Obliged Entities, Supervision

2.3 Obligations, Due Diligence Measures, Sanctions, criminal and administrative liability of legal persons

2.4 Money laundering cases, Examples, Case law

3Teaching/Thematic Unit 3: The New Bankruptcy Law

3.1. Introduction to the New Bankruptcy Law

3.2. The effects of the declaration of bankruptcy, the filing and verification of creditors' claims and the actions of the insolvency administrator under the new insolvency framework

3.3. The bodies of the bankruptcy

3.4. The assets of the bankruptcy

3.5. The stage of the union of creditors and the liquidation of the bankrupt's estate

3.6. Corporate bankruptcy

3.7. Discharge of natural persons from their debts as a second chance – Partial discharge of legal representatives

3.8. Pre-insolvency restructuring procedures under the Bankruptcy Code, Part I – The prevalence of the direct court ratification procedure (prepackaged plan)

3.9. Pre-insolvency restructuring procedures under the Bankruptcy Code, Part II – The procedure for ratifying the restructuring agreement and judicial review

3.10 Pre-insolvency restructuring procedures under the Bankruptcy Code, Part III – Effects of the restructuring procedure and its annulment

3.11. Pre-insolvency restructuring procedures under the Bankruptcy Code, Part IV – Transfer of a business and case studies

3.12. Bankruptcy of private individuals and consumers – Basic prerequisites and conditions

3.13. Protection of the primary residence of the vulnerable debtor

3.14. The out-of-court mechanism under the Bankruptcy Code, Part I – Basic prerequisites and conditions – eligible debts

3.15. The out-of-court mechanism under the Bankruptcy Code, Part II – The dominance of financing bodies and the participation of the State

3.16. The out-of-court mechanism under the Bankruptcy Code, Part III – Alternative options for the applicant and effects of the agreement

3.17. Other para-insolvency procedures and 'restructuring' procedures outside the Bankruptcy Code – Early warning for taking measures against insolvency

4Teaching/Thematic Unit 4: Modern Forms of Contracts: Drafting and Legal Perspective

4.1 Introduction – The modern economic environment – Definition of a contract – Freedom of contract and its limits.

4.2 The negotiation stage. Liability arising from negotiations.

4.3 Formation of contracts – Basic contractual terms – Clauses – Unfairness – Adhesion contracts. Nullities.

4.4 Sale contract – Distance selling (E-commerce).

4.5 Lease agreement – Legal framework – Rights and obligations of the parties.

4.6 Employment contracts – Contracts for work and independent services. A brief overview

4.7 Financial leasing contracts (Leasing) – Elements of the contract – Type of contract – Legal framework, etc.

4.8 Banking contracts. General Terms and Conditions

4.9 Cooperation and intermediary trade contracts: Distribution, Agency and Franchise Agreements.

4.10 Modern forms of tourism and hotel contracts (allotment contract, time-sharing contract, package travel).

4.11 Contracts concerning intangible assets: Domain name, Trademark and Intellectual Property Rights agreements.

4.12 Performance of contracts – Breach of terms. Judicial or out-of-court dispute resolution – Developments in case law.

Learning Outcomes

Upon successful completion of the Course, trainees will acquire:

✔️ Understanding the importance of contracts in modern entrepreneurship

✔️ Knowledge of the basic terms of modern contracts

✔️ Possibility of immediate practical application of the knowledge provided

✔️ Providing the necessary tools to professionals who, by the nature of their work, need to know the relevant institutional framework

✔️ Ability to present data in a synthesised way and to prioritise it

✔️ Ability to apply knowledge in practice

✔️ Understanding concepts relating to the regulatory framework

✔️ Understanding the content of documentation files and analyses (industry, company, functional) required, in conjunction with the OECD GUIDELINES

✔️ Understanding documentation methods in conjunction with the national legislative framework and the OECD Guidelines

✔️ Collecting financial data from the business and from databases and processing them for the preparation of the documentation file and the Summary Information Table of the General Secretariat for Information Systems.

✔️ Deadlines – Penalties

✔️ Advance approval of the intra-group pricing methodology (advance tax ruling)

✔️ Understanding the content of documentation files and analyses (industry, company, functional) required, in conjunction with the OECD GUIDELINES

Assessment

The examination process takes place remotely via the e-learning platform, with the final examination questions and exercises posted in the form of an assignment with a deadline for submitting answers. Late participation in the final examination may be arranged in consultation with the trainee, provided that no more than one year has passed since their registration in the relevant teaching unit.

Discount Policy

The following discount categories apply:

GROUP A: Unemployed persons, members of large families and families with three children, persons with disabilities, graduates and students of the University of Piraeus, employees of the University of Piraeus (permanent or under contract), municipal employees
GROUP B: Undergraduate students of universities/technological institutes (AEI/TEI) or persons up to 30 years of age holding a European Youth Card, participants of previous cycles, registration for at least two courses in the same period

Please note that:

Discounts are not cumulative.
Each trainee may benefit from only one discount category.
Participants entitled to a discount must submit the supporting documents that will be requested.

Course Fee after discount

	GROUP A	GROUP B	NO DISCOUNT
Total Course Fee	810	970	1.150
Fee for Thematic Unit 1	60	70	90
Fee for Thematic Unit 2	170	200	240
Fee for Thematic Unit 3	330	400	470
Fee for Thematic Unit 4	250	300	350

Payment of Fees

Fees are payable in a single payment or in equal monthly instalments, the number of which corresponds to the duration of the Teaching Unit in months, provided that the fees are paid in full 2 weeks before the end of the Teaching Unit. Failure to pay any instalment will result in the automatic exclusion of the candidate from the remainder of the Course, the examinations and the award of the certificate.

Duration:	10 Months / 135 Hours
ECTS:
Field of Study:	Finance
Language:
Scientific Director:	Emmanouil Tsiritakis

Units

Learning Outcomes

Assessment

Educational Material

(+30) 210 414 2481, 2106, 2025

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