March 2023
Due Diligence in Business Acquisition
George Psarakis LL.M. (mult.), PgCert
Published the decision of the Athens Court of First Instance No. 4684/2019, which dismissed our opposing tenant's claim for an adjustment of the rent of a commercial lease. The tenant company sought the reduction of the monthly rent from 63,000E euros to 35,000E in a lawsuit filed at the end of 2013. The Court held that on the one hand, it had not suffered a reduction in its turnover (based on the tax certificates submitted), and on the other hand, the comparative data and the valuation report submitted were not suitable and reliable. At the same time, our client's position was strengthened by a private agreement in the context of an out-of-court settlement signed in mid-2013, in which the parties acknowledged the reasonableness and fairness of the amount of the rent.
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