SEKAP Τakes Μeasures to Suspend Payments

December 28, 2017

An extraordinary SEKAP board council meeting on Thursday decided to launch procedures to suspend payments unless actions were taken to restore a threat on the company’s operations, and appointed Seraphim Sotiriadis as legal advisor to deal with all issues related with a bankruptcy process.

The board council also appointed Stavros-Konstantinos Papaspyros as new general manager of SEKAP.

Company sources told ANA that Friday was a crucial day for the future of SEKAP as a administrative first instance court in Komotini was expected to discuss a company request on provisional protecting measures against its creditors. The court decision is expected in around two months.


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Beyond the issues in Crete and our own in America, as we wrote in our ‘Analysis’ in last week’s edition, Patriarch Bartholomew has unfortunately ensnared himself in problems with the majority of local Orthodox Churches worldwide, with few exceptions such as those of Greece, Alexandria, and Cyprus, due to the granting of Autocephaly to Ukraine, which has proven to be ill-timed and ill-suited.

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