About ANEK LINES, the report says the following (p.28):
“ANEK LINES has been forced to reclassify its long-term liabilities into short-term liabilities as of 31.12.2018, since it failed to service its loan and based on the relevant contracts, the non-service of the loan obligations constitutes non-compliance with the terms, which entails the obligation of the company for full repayment of the loans.
As a result, short-term bank liabilities on 31.12.2021 amounted to 260.1 million euros compared to 252.9 million euros on 31.12.2020 and are increased by the outstanding interest of the financial year 2021.
In case of completion of the agreement between Piraeus and Alpha Bank and the creditors of ANEK on the extent of the impairment of its loan obligations, ANEK will be saved.
The plan includes the purchase of Alpha Bank’s loans to ANEK by Piraeus, which will then, together with other creditors, refinance the remaining impaired loans and transfer them to the newly enlarged Attica. The agreement under discussion provides for a significant reduction in bank lending, up to 150 million euros, and ensuring that suppliers are paid in full.”
