- CORPORATE LAW & COMPLIANCE
- 29 SEPTEMBER 2022
Zepos & Yannopoulos advises Club Med SAS in the sale and lease back of the Club Med Gregolimano Village in Evia, Greece for circa €70m
Zepos & Yannopoulos advised Club Med SAS in the sale and lease back of the luxury resort Gregolimano Village located in the island of Evoia, Greece, to a Primonial Reim France SA, managed by Hova Hospitality. Throughout this three-tier project which comprised Club Med’s restructuring, the sale and the long term lease, our firm’s involvement has been vital, consisting in advising Club Med in the required restructuring of its business in Greece, the performance of a vendor’s due diligence, drafting and negotiating the transaction documents, advising on all corporate, commercial, real estate, town planning, regulatory and environmental legal issues, assisting with implementing appropriate solutions, drafting and negotiating the long term lease agreement as well as the agreement on the ...
- CORPORATE LAW & COMPLIANCE
- 27 SEPTEMBER 2022
Regulation of accessibility to the Central UBO Registry
Recently issued Ministerial Decision No. 125209/2022 regulates matters of access to the Central Registry of Beneficial Owners (the “Registry”) provided by articles 20 and 21 of Law 4557/2018 as in force. In particular, the right of access to the Registry and the information included therein is granted to: the Anti-Money Laundering Authority without prior notice; the competent public prosecution authorities with investigating or auditing responsibilities in the field of anti-money laundering; the competent authorities stated in article 6 of the Law; the obliged persons of article 5 of the Law only for the purposes of customer due diligence measures and upon proving the customer relationship by a statement attached to the respective form, and the public, but only limited to ...
- COMMERCIAL & CONSUMER LAW
- 22 SEPTEMBER 2022
Changes in the Greek Civil Code regarding the sale of goods and amendments to Consumers’ Protection Law
New Law 4967/2022 transposes into Greek law EU Directive 2019/770 on the supply of digital content and digital services and EU Directive 2019/771 on certain aspects concerning contracts for the sale of goods. New Law 4967/2022 (Gov. Gazette 171 Α’/ 09.09.2022), applicable as from 9 September 2022, (hereinafter the “Law”) introduces significant provisions with regard to digital services contracts and contracts for the provision of digital content, while it also amends several articles pertaining to the sale of goods of the Greek Civil Code and Law 2251/1994 on Consumers’ Protection. I. Implementation of Directive (EU) 2019/770 on certain aspects concerning contracts for the supply of digital content and digital services. a. Applicability and scope The definition of the “contract...
- TAX CONTROVERSY & LITIGATION
- 12 SEPTEMBER 2022
Supreme Court rules that marketing services do not create VAT fixed establishment | Our tax litigation team overturns previous Court’s case law
Our tax litigation team has succeeded in annulling before the Supreme Court multi-million VAT assessments made by tax authorities, who had argued that marketing services provided by a Greek subsidiary to a foreign affiliated company had created a fixed establishment for the foreign company. In this context, they had assessed VAT on the service fees of the Greek subsidiary on the basis that they should have been invoiced to the Greek fixed establishment of the foreign affiliate and therefore be subject to Greek VAT. On the matter of fixed establishment, Greek Supreme Court had consistently ruled in the past, contrary to relevant CJEU case law, that fixed establishment may be created even when the human and technical resources of a Greek subsidiary provide only ancillary services to a for...