December 2023 – Judicial annulment of guarantee agreement

December 2023 – Judicial annulment of guarantee agreement

Decision numbered 421/2023 was issued by the Multi-Member First Instance Court of Athens, according to which our claims were accepted as admissible, lawful, and substantively valid following our motion regarding:

(a) the nullity of the guarantee agreement between the bank and one of the guarantors due to its contradiction to good morals, specifically due to the lack of information regarding its contractual terms and consequences, as well as its excessive commitment to terms disproportionately burdensome and unfair to the guarantor,

(b) the nullity of the termination of the loan agreement due to its unsubstantiated delivery, and

(c) the deletion of the liability of the other guarantor, based on Article 862 of the Civil Code, i.e., due to the culpable inability of the bank to satisfy its claim against the primary debtor company.

The examination of the substantive validity of the above claims was influenced by the default of the defendant company, manifested in the untimely submission of its claims, which is tantamount to improper participation in the trial.