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Getting the deal through -Construction 2013 – Greece

Yes. A joint venture is not legally defined under Greek law. It is governed by the combined provisions of the Civil Code and the Commercial Code. According to these provisions, a joint venture is treated like a partnership (incorporated or unincorporated, depending on whether the establishment of the joint venture has been publicised or not) and all its members are jointly and severally liable for the entire project. Allocation of liability may be agreed, but is not valid as against third parties....

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