Pricey real estate, vessel again spared auction block due to protests at local courts

Thursday, 12 October 2017 15:44

Another round of auctions of foreclosed upscale property was interrupted by protestors this week, according to associations representing notaries in the country, a week after the latter promised to publicize instances where wealthy debtors and millions of euros in arrears are spared the auction block.

True to their word, notaries’ groups on Wednesday derided what they said were “so-called collectives” of protestors who aim to block the auction process no matter what.

According to the former, protesters on Wednesday interrupted the auction of an Italian-flagged vessel owned by a Cyprus-based company for total arrears exceeding 12.3 million euros, a figure that includes back pay to port workers. Protestors showed up at a local court in the port city of Piraeus to block the vessel’s auction.

At another court in north Athens (Halandri), an auction for land and an office building belonging to a company with 21.15 million euros in debts was blocked. Nine million euros of the figure are arrears to the Greek state, notaries charged.

In Athens proper, four properties in the “Soho-like” inner city district of Psyrri of the Greek capital, all belonging to a single individual with total debts of 2.5 million euros, were sprared the auction block after protesters disrupted the proceedings.

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