Following its previous announcements, KEKROPS announces that after a thorough examination of the decisions of the Supreme Court for the out-of-plan area of 242.25 acres, which passes into the ownership of the Greek State, considers the decision respectable but extremely unfair and contrary to older case law of the Greek courts, both in relation to the assessment of the damage suffered by the company, and in the conditions of abusive exercise of the right of the State.
The company states that “it is obliged to file all legal remedies against the Greek State in order to be compensated for its loss of off-plan land. In particular:
(a) consider recourse to the European Court of Human Rights;
b) bring an action for damages in the Civil Courts.
The Company’s expectation is the reasonable compensation for the damage that exists from the above decision of the Supreme Court, as it results from the study of an international auditing company submitted to the Supreme Court to document the damage from the abusive exercise of the Greek State right.
For the properties within the plan that become the property of KEKROPS, the Company will take all appropriate actions for their utilization.
The company concludes by noting that it will inform the investing public about its further actions.
Source: Capital
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