October 2022
7 Critical Points in relation to the recent Supreme Court decision on the ability of Servicers to expedite auctions
George Psarakis LL.M. (mult.), PgCert
An interim order was issued by the Athens Court of First Instance prohibiting the submission of a third-party declaration to credit institutions which had been subjected to seizures by a bank on the basis of a payment order amounting to approximately EUR 500,000. That prohibition prevented the compulsory collection (following the legal assignment that would have taken place) of any funds from the bank in the context of the enforcement procedure. One of the alleged grounds for suspension was the improper submission of an application for a payment order in the middle of negotiations.
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