Commercial and shipping law firm LCI Law has successfully represented a client in a case that went to the Greek Supreme Court (Areios Pagos) and has just resulted in a landmark decision in favour of the client.
What the Supreme Court has ruled is that Greek-based branches of EU-based insurance companies established in Greece pursuant to EU Directive 2009/138/EC (Solvency II) are not liable for the EU-based insurers’ obligations, and that the establishment of such Greek-based branches does not alter the EU-based insurers’ status as foreign residents in the eyes of the Greek Courts.
This decision sets a crucial legal precedent in Greece, overturning previous judgments of the Greek Courts of Appeal.
The successful clients were represented by LCI Law’s Greek litigation team at its Athens office, led by George Iatridis and George Pezodromos, insurance and reinsurance being core elements of LCI Law’s litigation practice.
