Compensation Claims

JUDICIAL REPRESENTATION AND OUT-OF-COURT DISPUTE RESOLUTION

Damage Claim Our company has successfully taken over and handled a number of cases related to claiming damages on behalf of our clients. Whether it is an individual case or class actions, the cases are always handled keeping in mind the best interest of our principals. Based on the fundamental principle of law, “if a party causes damage to another party illegally and by its fault, it is obliged to indemnify it”, our aim is not only to ensure that justice is done efficiently and swiftly, but also to collect the money from our principals.

To achieve this, we use all the tools provided by law, either through judicial proceedings or through the extrajudicial - settlement procedure to resolve the dispute. Our advantage is that we take over the cases on a contingency fee agreement, that is, we make our remuneration dependent on the positive outcome of the case and the collection of money, and we have achieved significant positive results precisely because we handle the cases as if they were ours.

Indicatively :

• After long-term and demanding court proceedings, we have reached a historic settlement for approximately 400 of our clients who had invested their money on bonds issued by a “shell” company of ASPIS group with zero assets. Through the settlement, the majority of our clients have recovered most of the lost capital, as a sum of approximately EUR 18,000.000 has been distributed to date. It is expected that the collection of money on behalf of our specific principals will exceed EUR 25,000.000.

• We have succeeded in collecting huge compensations on behalf of franchise branches (OTESHOP) due to the abrupt termination of the cooperation by the franchisor (OTE).

• We have succeeded, through legal proceedings, in receiving more than EUR 23,000.000 from a Cypriot Bank on behalf of our 550 Greek clients, holders of investment products that the Bank had issued and misleadingly promoted and subsequently unilaterally converted into shares. The case is still ongoing, and total compensation is expected to exceed EUR 70,000.000. It is indicative that only the actions of our principals have been accepted by the courts in this case, because they incorporate expert opinions of audit firms and analyzes of factual and economic data, which have prevented the Cypriot Bank from evading its responsibilities.

• We have succeeded, through legal proceedings, in collecting from a Greek Bank more than EUR 5,000.000 on behalf of 40 of our Greek clients, holders of thirdparty bonds that the Bank had misleadingly promoted to them and then their value was zeroed.

• We have represented contracting companies claiming millions of euro against their counter parties and contractors for breach of contract terms. We have succeeded in collecting from bankrupt insurance companies, on behalf of thousands of insured persons, between 10 and 100% of their claims, worth tens of millions of euros. And these cases are still active.

• We negotiated and handled the settlement between a public company with a known insurance company, which resulted in the payment to our principal of insurance indemnity for damage sustained by a natural disaster of hundreds of thousands of euros.

• We have launched a major investigation, in conjunction with the Athens Chemical University, regarding contamination by mining activity in areas of the Greek territory, and the consequences of pollution on the health of the inhabitants of the surrounding areas. The purpose of this investigation is to bring damages actions against the company engaged in the mining activity

• We have taken over the cases of people who have been ill after receiving a medicine or a vaccination, in order to bring actions against the pharmaceutical companies. The proceedings are active.

• We have succeeded on numerous cases relating to recovering money that has been invested in third parties or businesses, and then the investments were lost or cancelled. Always, before taking the case, we assess the possibility of achieving a positive outcome and of recovering the money by any legal means.

• We have undertaken damages claims against the Greek State representing the relatives of the victims of the deadly fire in Mati, Attica.

As shown in the above indicative list, damages claims may arise in several fields of law and the specific issues of each case that contribute to the determination of the final amount to be paid must be investigated each time. The investigation is conducted through an open dialogue of actual facts, theory and case law that due to our experience we are able to deliver to our customers. The method of corrective justice linked to compensation law is the ultimate aim of exercising the redress mechanism, but also the mediation mechanism, which now necessarily governs the majority of the cases we handle.

In particular, in order for compensation to be awarded, the majority of cases require:
- Damage to the person's property or moral goods closely linked to their personality (e.g. honor, freedom, mental health) or even consequential damage (loss of earnings).
- Illegal behavior (criminal offense, behavior contrary to accepted principles of morality, behavior contrary to good faith, etc.).
- There must be fault on the part of the offender, that is to say, deception or negligence.
- It must be established that the act or omission of the person responsible was, based on insights gained from the common experience, capable of causing, in the usual and normal course of events, the harmful effect (causal link).

In this context:
- A claim for compensation may be incurred in the event of damage to property for which a private individual is liable (e.g. marketing of a defective medicinecausing adverse effects on patients, incorrect provision of investment services by employees of a banking institution to investors, damage to health caused by atraffic accident or an occupational accident, environmental pollution from mining activities, etc.).
- A civil liability of the State may be incurred due to injurious acts or omissions by its agencies for the damage caused by their action and in the exercise of public authority (e.g. failure by the Police and the Fire department to take the necessary measures to prevent deaths in the event of fire, damage to life or health caused by medical negligence of a medical practitioner in a public hospital,omissions in constructions by Local Authorities, which have resulted in damage to property or health, etc.).

So, compensation claims against the State or private individuals may arise in any aspect of our lives in the society where we have to act in accordance with the principles of the legal order. By studying the details of each case and making the most of the long experience of our executives, we can handle each different case in a creative and efficient way by providing our principals with substantial and personalized support starting on our first meeting and up to the collection of their compensation money.

TELL US ABOUT YOUR CASE

You can fill in your case information so we can assess it. If we deem that we can undertake it on a contingency fee agreement, that is to say, depend our remuneration on the collection of the compensation, we will invite you over to discuss further details.

    Special cases of liability for damages :

    Our company offers full legal coverage in a wide range of cases related to Banking and Financial Law, both at the advisory level and at the level of judicial representation, providing its services to different market players, such as businesses, individuals, insurance companies, etc. Indicatively, our company has handled cases of particular complexity in the past regarding transactions in complex investment products (derivatives, convertible bonds, common bond loans, mutual funds, etc.), alternative forms of financing for businesses and companies, securing loans and credits, as well as resolving disputes between lenders/borrowers and investors. At the same time, our firm collaborates with specialized economists, financial advisors and banking experts who contribute their high-level expertise to support our legal services, aiming to rapidly address our clients’ issues and effectively achieve realistic solutions with high standards of responsibility and professionalism.

    The new enforcement law, as enacted since 2015 and as it is shaped by new means (e.g. electronic auction) is a legal consequence of the economic and social developments that have taken place – and are taking place – in our country. Over time, speed and efficiency in the enforcement process through which a creditor is satisfied have become increasingly necessary. This seems to weigh heavily on the new enforcement law, justified to a certain extent.

    However, it must be firmly established in everyone’s consciousness that in a global economy, where many tangible goods are rapidly transformed into intangibles or debtors’ assets move in the form of bank accounts from state to state at great speed, enforcement law may need to be radically reformed in the future.

    Our company, having extensive experience and expertise in matters of forced execution and collection of debtors’ claims, monitors the evolution of the law and means of forced execution and ensures the quick and effective satisfaction of its clients (lenders or debtors).

    The civil liability of the State is a subject that is closely linked to real life, frequently concerns the jurisprudence of administrative courts and arises from the State-citizen relationship. The term civil liability means that the State and Local Authorities are liable for compensation for illegal acts or omissions or material actions of their bodies during the exercise of public authority assigned to them.

    This liability is based on the Civil Code (articles 105-106 of the Civil Code) and is objective liability. That is, it is a liability that arises regardless of the existence or non-existence of fault on the part of the State body or the Local Authorities, whose act, omission or material action caused the damage. The conditions that must be met are the following: the act, material action or omission must be illegal, cause damage (property or moral), while there must be a causal connection between the act, material action or omission and the occurrence of the damage, i.e. the illegal behavior must be capable of causing this damage.

    Our firm has extensive experience in compensation claims against the State due to illegal acts or omissions of its organs. For more information click here {Hyper will be inserted from indicative cases: ASPIS Group Cases and Fires}