Famous Athens nightclub Kentro Athinon auctioned due to debts

The Kentro Athinon is under the auctioneer’s gavel, one of the most popular nightlife centers in Athens.

The shop has from time to time hosted big names of the domestic artistic scene, while at this time Giorgos Mazonakis sings and appears every Thursday and Saturday.

The auction

The auction is planned for January 25, 2023 to attempt to sell electronically for the percentage of 33.3% of the property located in Piraeus.

1/3 of the property of 271 sq.m. at the intersection of Piraeus and Petrou Ralli streets is being sold for 646,000 euros, the debtor is Villa Business and Entertainment, in which a natural person, Dimitris Deligiannidis and Salem Management Company appear as administrators.

It consists of a ground floor, which has an area of 213.6 sq.m., a first floor withan area of 191.65 sq.m. and second floor which has a surface area of 131.75 sq.m.

Ongoing autcions

The majority of scheduled auctions are being held normally, despite a wave of objections from borrowers’ lawyers, based on a ruling by a division of the Supreme Court that prohibits loan and credit management companies from representing the owners of debts (funds) in court.

According to a top servicer industry source, in 80% of cases the court decides to proceed with enforcement, relying on the other 12 dissenting Supreme Court decisions on the issue.

The figures for the auctions from the beginning of November until yesterday, demonstrate the truth of the saying. Out of 7,930, 5,810 were successfully completed.