August 2020

Judgment of the Athens Court of First Instance on Incorrect Declaration of a Third Party by a Bank

In its decision No 10170/2020, the Athens Court of First Instance ruled that the third party declaration submitted by a credit institution in the context of a seizure made in its own name and against the Greek State was inaccurate. In particular, following the issue of an enforceable title against the Hellenic State, a seizure was imposed on the accounts held by the latter with a credit institution. In its statement, the credit institution stated that the accounts held by the Hellenic State with it were unseized. The Court held that the above statement and claim of the credit institution was vague, since it did not indicate whether or not the accounts in question actually served a specific public purpose. The Court, after acknowledging the inaccuracy of the above statement and the existence of a claim of the Greek State against the bank from the deposits in question, ordered the bank to pay the seizing company the amount of EUR 181,464.10.