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Businessman Vovos Rearrested

vovosCharalampos Vovos, 81, was rearrested Wednesday afternoon by police officers of Property Rights’ Protection Department of Attica Police Directorate, for 7 million Euros of debts to the Greek state.
Vovos’ company board stated, “This arrest was made after several lawsuits from tax authorities concerning outstanding debts to the Greek State.”
The company has made specific payment arrangements with both the Greek state and the Greek Social Insurance Institute (IKA), and during 2013 more than 6 million Euros were repaid.
In anticipation of the company’s inclusion under bankruptcy provisions (Article 99) and after approval by the Court for debt conciliation with creditors, the restructuring plan is expected by the end of February. This will include among other measures, a one-off repayment of all preferential creditors (Greek State, Social Insurance Institute and employees), by selling of properties owned by the company.
 

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