Please note that the Athens Multi-Member Court of First Instance handed down another favourable judgment in a case brought by clients of ours, which was heard on 9.12.2015. The judgment acknowledges that the Bank deliberately caused the plaintiffs’ loss as it sought to re-balance its impaired capital adequacy. The Bank was ordered to pay the plaintiffs the entire amount requested, plus compensation for moral damages, and the judgment was declared enforceable on an interim basis for 25-30% of the amount requested.

We believe it is another major development in the case and expect other judgments to be handed down in similar proceedings which have been filed.

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