PQH was established in 2016 and appointed by the Bank of Greece to act as the Single Special Liquidator for all credit and financial institutions under special liquidation in Greece.


There are currently 20 institutions under special liquidation, with several billion-euro worth of assets, the majority of which consist of corporate and retail non-performing loans.


Following the successful consolidation of liquidations’ operations under a single organisational structure, PQH is fulfilling its mission to maximise recoveries for creditors in a timely manner – through servicing and liquidating those assets. Via the implementation of transparent, fair and impartial processes, PQH aims at reactivating, restructuring or settling the largest number of accounts possible.


The management team of PQH comprises of expert professionals from the commercial banking, investment banking and consulting industries with significant domestic and international experience in similar fields.

Corporate Governance

PQH procedures’ and policies’, combined with the company’s organisational structure, promote the principles of corporate governance in terms of administration, operation and control for the benefit of its clients, creditors, shareholders, investors and employees.

Audit Committee

Within the given legal framework, PQH has appointed an Internal Audit Committee comprising three independent non-executive members, with the following responsibilities:

  • assessment of corporate governance systems’ adequacy and effectiveness;
  • monitoring and evaluation of PQH operation;
  • compliance of PQH operations with a respective framework.

Legal Framework

Pursuant to resolutions under nos 182/1/04.04.2016, 254/2/21.12.2017, 348/1/06.03.2020 and 456/1/04.02.2023 of the Credit and Insurance Committee (EPATH) of the Bank of Greece which were published in the following issues of the Government Gazette: GG B’ 925/05.04.2016, GG PRA.D.I.T. 3356/22.12.2017, GG B’  717/06.03.2020 and B’  528/04.02.2023, PQH was appointed as the Single Special Liquidator of the 20 institutions under special liquidation. The Single Special Liquidator is the management body of the institutions under special liquidation as defined in the provisions of Law 4261/2014.

The main legislation governing the special liquidation is the following:

  • Banking Law 4261/2014 (GG Α΄107/5.5.2014 - articles 145, 145A, 146) which replaced Banking Law 3601/2007.
  • Special Liquidation Regulation – BoG EPATH decision 180/3/22.2.2016 (GG Β΄717/17.3.2016) as amended by BoG EPATH decisions 221/4 and 19/17.03.2017 (GG B’ 971/22.03.2017) and BoG EPATH decision 302/1/8.3.2019 (GG Β’ 888/14.03.2019)
  • Code of Conduct for borrowers of the credit and financial institutions under special liquidation - BoG EPATH decisions 392/1/31.5.2021 (GG Β’ 971/22.03.2017) and 396/1/23.7.2021 (GG Β’ 3425/28.7.2021)
  • BoG EPATH decision 221/3/17.3.2017 (GG Β’ 971/22.03.2017) – Terms and conditions for the management of assets of the institutions under special liquidation as amended by the BoG EPATH decision 302/2/8.3.2019 (GG Β’ 888/14.03.2019)
  • General provisions of the Greek Insolvency Legal Regime

The supervisory body of PQH is the Bank of Greece. The level of monitoring and control enforced by the Bank of Greece aims at safeguarding efficient management and liquidation of assets within the given strategic framework, which is designed by PQH and is approved by the Bank of Greece in respect with its legislative and regulatory provisions.

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