January 2020
Myth or Reality: The class of "mega-debtors"
George Psarakis LL.M. (mult.), PgCert
A decision was issued by the Athens Court of First Instance on the conservative seizure of movable and immovable property up to the amount of 5,000,000 euros against a natural person, a shareholder and CEO of a Public Limited Company for debts of the Company, based, inter alia, on the legal basis of the removal of the legal entity's independence. It was presumed, i.e. that the actions of the natural person put the company in a state of suspension of payments and thus established his liability for the company's debts.
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