March 2025
How Do Servicers Negotiate? - Bilateral Agreements
George Psarakis LL.M. (mult.), PgCert
A decision of the Athens Court of First Instance has been published which accepted the invalidity of the seizure report of a property by a credit institution on the basis of a payment order of approximately 1,700,000 euros. The reason for the annulment lies in the unacceptable submission by the bank of information letters for the issuance of the payment order instead of an extract from its commercial books. Together with the seizure report, 60 seizure orders in favour of third-party financial and non-financial institutions were also annulled.
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