Karatzas and Partners Law Firm


According to a statement made by ESMA on March 27, 2020, delays in the publication of annual and half-yearly reports by issuers whose securities are admitted to trading on a regulated market should be tolerated by national competent authorities (NCAs), under the following conditions:

Karatzas & Partners is pleased to have assisted Eurobank in the hive-down of its banking sector into a new credit institution and the transformation of the existing legal entity into a holding company. This transaction was the largest hive-down ever performed in Greece and the most complex corporate transformation, due to the regulatory requirements that needed to be met and the difficult legal issues created by the fact that the banking business being transferred contained rights and obligations governed by various foreign laws.

The Hellenic Capital Market Commission has confirmed that, in accordance with the ESMA Public Statement dated March 18, 2020 (ESMA80-191-995), it will not prioritise its supervisory actions with respect to the reporting of securities financing transactions (SFTs) by credit institutions, investment firms and relevant third-country entities, which should start on April 13, 2020. SFT reporting by such entities, under both SFTR and MiFIR, has actually been postponed to the next phase of the reporting regime. You may find the full article here: COVID19-HCMC_confirms_postponement_of_SFT_reporting.pdf

The article below offers a deep dive in the adopted measures related with the adverse effects of #Covid19 outbreak. Authors: Vassiliki Salaka, Christina Faitakis, Alexandra Agorastou, Nina Leopoulou and Nikos Stefas. Click on the following link: COVID19_Adopted_Measures.pdf

Greek Corporates - General Meeting of Shareholders or Partners

Article 33 par. 2 of Legislative Act dated March 20, 2020 (Bulletin A, no 68/20.03.2020) permits general meetings of shareholders or partners of any legal entity to be conducted via a teleconference available to some or all of its shareholders or partners, notwithstanding whether this is provided for by their articles of association. In such case, the invitation for the General Meeting must include all necessary information and technical guidance for their participation in the general meeting. This provision will apply until June 30, 2020.

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