ATHENS COURT CLEARS THE BOARD OF ALPHA BANK FROM CHARGES OF BREACH OF TRUST

ATHENS COURT CLEARS THE BOARD OF ALPHA BANK FROM CHARGES OF BREACH OF TRUST

 

By a unanimous judgment the Court of Appeal Athens sitting as a first instance court acquitted on 9.10.2019 the members of the Board and high ranking executives of Alpha Bank (one of the largest banks in Greece) from charges of breach of trust in relation to multi-million loans granted to a well known publishing company and its principal who ran into financial difficulties.

After a lengthy trial hearing the Court held that the defendants did not breach legal or best practice rules which governed the granting and/or restructuring of loans to companies or individuals but acted within the limits of the business judgment rule.

Ilias Anagnostopoulos and Jerina Zapanti advised and represented two of the defendants in pretrial and trial proceddings.