Litigation funding in Greece: new solutions in a system undergoing transformation
In an increasingly complex legal world, third party funding is consolidating as an effective tool to improve access to justice, distribute legal risks, and facilitate the advancement of meritorious disputes. In Greece, a country with a rich legal tradition, a judicial system undergoing modernization, and a recovering economy, this model is beginning to emerge as a concrete solution for those facing highly complex and lengthy litigation. Loopa enters this market with a proposal tailored to the local context and a regional and international vision.
History of third party funding in Greece
Unlike other European jurisdictions, Greece does not have a consolidated track record in third party funding. For years, the model was virtually non-existent, partly due to lack of awareness, partly due to the Greek procedural structure, and partly due to the country's limited exposure to high-value international arbitrations or cross-border litigation. However, this reality has begun to change. The economic crisis of the last decade, the expansion of commercial litigation, and the growth of arbitration in sectors such as energy, infrastructure, and finance have opened the doors to new financing mechanisms. High-level law firms, companies with significant claims, and sophisticated claimants have started to explore alternatives that allow them to assert their rights without immobilizing large amounts of capital. In this context, Loopa emerges as one of the first players to introduce the model in a structured way in Greece, with a rigorous legal approach, international experience, and available capital to support meritorious cases.
Legal framework: continental law and contractual freedom
Greece adopts a civil law system, based on the Hellenic Civil Code, which recognizes autonomy of will as a guiding principle in contractual matters. There is no specific law regulating third party funding, but the model is considered lawful as long as agreements between parties do not violate public order or basic procedural principles. The assignment of litigious claims is permitted by Greek law and constitutes a useful tool to structure the relationship between the funder and the claimant. This assignment can serve as security, participation, or a mechanism for recovering invested capital. Furthermore, while Greek legislation imposes limits on quota litis agreements for lawyers (for ethical reasons), these restrictions do not apply to third-party funders, allowing for valid and balanced agreements to be structured. In this context, Loopa can operate in Greece with legal certainty, respecting the independence of the lawyer, the confidentiality of the process, and the client's control over the procedural strategy.
Arbitration application: a space of natural expansion
Greece has made significant progress in recent years to position itself as an attractive venue for commercial arbitrations and investments. The current legislation is based on the UNCITRAL Model Law, and the country is a signatory to the New York Convention, ensuring the recognition and enforcement of foreign awards. Institutions such as the Athens Mediation & Arbitration Organization (EDAK) and the Regulatory Authority for Energy administer national and international arbitrations in strategic sectors. While third-party funding is not yet common in these types of proceedings, its integration is fully viable, and regional and international trends point to increasing acceptance. Loopa is prepared to finance arbitrations in Greece, covering everything from legal expenses and institutional fees to expert costs, translations, and hearings. Our model not only provides capital but also professional validation of the case and strategic support, allowing parties to compete on equal terms against better-funded counterparts.
Application in judicial disputes: monetizing lengthy processes
The Greek judicial system, although efficient compared to the region, faces certain structural delays, especially in high-complexity civil and commercial litigation. Processes against the State, contractual disputes, actions for damages, or recovery procedures can take several years to be definitively resolved. In this context, the financing offered by Loopa allows for the monetization of litigation: that is, transforming a future expectation into immediate liquidity. This can make a difference for companies that need to free up cash flow or individuals who are not in a position to wait for the final outcome of prolonged litigation. Furthermore, the financing allows for the improvement of procedural strategy: hiring expert lawyers, presenting technical evidence, facing appeals, or simply resisting dilatory tactics from the opposing party. In an environment where time is against the plaintiff, Loopa provides support for the case to progress forcefully and without disproportionate financial commitments.
Conclusion: modern justice in a jurisdiction with history
Greece combines a deep legal tradition with a growing openness to modern legal solutions. Although third party funding is still in an early stage, the legal framework allows for its development, and the country's economic, procedural, and commercial conditions make the model increasingly necessary and relevant. Loopa positions itself as one of the first funds specialized in operating in Greece with a structured, transparent approach aligned with the principles of Greek law. Whether in complex arbitrations, protracted litigations, or strategic commercial claims, our goal is clear: to provide capital, share risks, and support those with a meritorious case on their path to justice. Because in Greece, as in all of Europe, access to justice also depends on access to adequate financing.
