Saturday May 23, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Dias fish farms on the verge of sinking

By Dimitra Manifava

Dias Aquaculture announced on Wednesday that its application to enter into the conciliation procedure under Chapter 99 of the Bankruptcy Law has been declined, taking the fish farming firm a step closer to bankruptcy. The decisions on its future will be taken during Thursday’s extraordinary board meeting.

In its statement, the listed company added that “the Dias board still hopes to reach a restructuring settlement with the banks and other creditors.” Such a settlement appears particularly difficult given that two restructuring plans have already been rejected, while main shareholder Kakha Bendukidze seems reluctant to invest any more in Greek aquaculture having already lost over 100 million euros to date.

Market professionals and the company’s 431 employees believe it was the months-long delays in finding a solution that have brought it to the brink of collapse, with its immediate needs now estimated at some 50 million euros.

ekathimerini.com , Wednesday March 26, 2014 (23:01)  
Hotel contracts with a ‘Greek default clause’
Listed firms have whisked away most of their cash reserves
Car sales drop a gear on VAT rate uncertainty
Bulk of loan requests comes from food service
PM irked at row holding up return of ERT
It remained unclear on Saturday whether the former state broadcaster, ERT, would return to the airwaves on Monday, as Prime Minister Alexis Tsipras had announced last week, amid objections t...
Cypriot president, Turkish-Cypriot leader take a stroll through divided capital
Leaders of rival communities in ethnically-split Cyprus shared coffee and cake on Saturday in a symbolic gesture underscoring a thaw in relations over a conflict spanning decades. Cypriot Pr...
Inside News
SOCCER
Greece escapes soccer suspension, FIFA happy with changes
FIFA says it is satisfied with changes made to sporting law in Greece, and has dropped a threat to suspend the country from international competition. In a letter to the government dated May...
SOCCER
Four-goal Panathinaikos thrashes Asteras away
Panathinaikos thrashed Asteras at Tripoli to gain an early advantage in the race for a spot in next season’s Champions League qualifiers, as the Super League play-offs got under way on Wedne...
Inside Sports
ANALYSIS
Neither Grexit nor a dual currency will solve Greece’s problems
A Grexit or the introduction of a dual currency is not a solution to Greece’s problems. On the contrary, it would be a worst-case scenario for Greece in the short term. Only in the medium to...
COMMENTARY
First aid for the capital
The fact that the center of Athens exudes the stench of human waste is an undeniable truth, just like the fact that in late spring, one nostril smells blossoming bitter lemon trees while the...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. PM irked at row holding up return of ERT
2. Cypriot president, Turkish-Cypriot leader take a stroll through divided capital
3. New civil service assessment scheme focuses on rewards instead of punishment
4. Hotel contracts with a ‘Greek default clause’
5. Listed firms have whisked away most of their cash reserves
6. Deal no closer following PM’s meetings in Riga
more news
Today
This Week
1. Hotel contracts with a ‘Greek default clause’
2. Listed firms have whisked away most of their cash reserves
3. Neither Grexit nor a dual currency will solve Greece’s problems
4. First aid for the capital
5. Response to May 15 comment
6. New civil service assessment scheme focuses on rewards instead of punishment
Today
This Week
1. The Greek-German breakthrough that didn’t come
2. Conspiracy madness
3. Greece came close to not paying IMF
4. National self-awareness put to the test
5. Albanian demarche raises concerns about possible territorial claims over Greece
6. Greek endgame nears for Tsipras as bank collateral hits buffers
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.