October 2024 – Reduction of the amount of the imposed guarantee from €50.000 to €10.000

With the decision No. 4432/2024 of the Single-Member Court of First Instance of Athens (Insurance Measures Procedure), our relevant application was accepted for the reduction of the amount of the imposed guarantee, under the condition of payment of which, a suspension of execution had been granted, in a case of imposing a seizure in the hands of the banks as third parties of the main professional account of our principal, a trading company of state-of-the-art medical equipment.

With said decision, on the basis of our presented and proven allegations, it was judged that the applicant company is a viable business, that the specific bank account is absolutely necessary for the continuation of its commercial activity and operation, as well as that the requirement of the expenditer is absolutely guaranteed, for this cause, there is absolutely no reason for the amount of the specified guarantee, under the condition of payment of which the suspension of execution was initially granted, to remain at the amount of 50.000 euros, which would completely annihilate the liquidity of the business and would lead to the cessation of the company’s operation, if the amount in question was eventually required to be paid. To this end, the decision reduced the amount of the guarantee to the amount of 10.000 euros.