OPEKEPE-AADE: Reports that the independent Authority filed an appeal against the decision of the Athens Single-Judge Court of First Instance, which ruled in favor of Ms. Paraskevi Tycheropoulou (photo), former Director of Internal Audit at OPEKEPE, regarding her dismissal.
A dismissal that for many (if not all) constituted “punishment” because , as is well known, she filed numerous complaints and assisted the European Public Prosecutor’s Office, even as an official collaborator.
The issue becomes even more striking when, at the very same time that the Authority is reportedly exhausting all legal remedies against her, approximately 12–13 other former OPEKEPE executives remain in the new structure under the AADE, currently serving as department heads or directors, even though they have been implicated in the case files submitted to Parliament or are already facing trial!
Sources within the AADE, contacted by this column, admitted that the reports are accurate and that an appeal was indeed filed, arguing that the court ruling does not negate the Authority’s legal obligation to follow the opinion of its legal advisor.
A competent source also noted that the courts may rule on compensation for Ms. Tycheropoulou, but not on her reinstatement at the AADE following the absorption of OPEKEPE, emphasizing, in fact, that the AADE does not have a corresponding position for an Internal Auditor, since OPEKEPE is no longer an independent organization!
That’s right—why change the organizational chart now just to keep one of the key figures in the organization who helped uncover the scandals?
As if we’re going to reward her for it.
As for the other former OPEKEPE executives involved in the well-known cases who now work at the AADE, the aforementioned sources claimed that there are outstanding issues “under review.” Not everyone falls under the same category, they say, but no exceptions can be made, as the risk of... breach of duty in the context of OPEKEPE’s restructuring is considered real.
If all this sounds extremely bureaucratic to you—and, we might add, quite strange—given everything that has happened, it’s hard to blame you.
After all, the case also serves as a moral lesson for any future... whistleblowers. Most likely, suspects and defendants will keep their cushy jobs, at least until the cases are finalized, while you, who made a fuss and ruined the party, will be running around the courts and will probably end up looking for a job.
So the younger ones can learn too...
PASOK: It is well known—and has been reported in coverage regarding the party’s expansion—that Char. Trikoupi does not “disapprove” of Theodora Tzakri’s return to PASOK.
This is because the former PASOK MP, who subsequently joined SYRIZA and then StefanosKasselakis (now independent), wields significant influence in Pella, with voters who follow her in every decision she makes. In contrast, PASOK is not doing well in this electoral district and would like to rectify the situation in the upcoming elections, even if it means going down this path.
Where does the plan fall short—beyond the serious objections such a “comeback” raises within the party? Inthe…term limit for parliamentary seats proposed by the PASOK president and approved at the recent convention: 20 years and that’s it.
Ms. Tzachri, however, has already served 22 years in parliament, having been elected for the first time (with PASOK) in 2004 and subsequently winning her seat every time (with SYRIZA). Which means she cannot be included on a “green” ballot.
Unless her return to the party happens without her being given a ticket for a new parliamentary seat, with her campaigning in Pella on behalf of another PASOK candidate. How likely is such a scenario?
In a way, the statutory “term limit” rule did indeed affect Haris Kastanidis (note: according to him, that’s why he ran in the first place…), but the fallout also extends to the “Theodora case.”
Much to the delight of those opposed to her return…
P.S. Haris, however, denies that he is in talks “with another party”—namely, Alexis Tsipras ’s—as his former “Green” comrades accuse him of. They, in turn, object to his continued presence in parliament since 1981, implying that“enough is enough”…
For those unfamiliar with the details, let us recall that those who have served as presidents of PASOK are exempt from the term-limit “cutter.” That is, in this case, George Papandreou and Evangelos Venizelos.
TSIPRAS: Nikos Pappas (as well as Pavlos Polakis and others) are not among the people Alexis Tsipras wants to bring with him to the new party.
Until now, only the latter had been taking jabs at the former prime minister, but now it’s the former’s turn: “Of course I will participate in the SKAI documentary; in fact, I accepted the invitation with great pleasure. After all, Mr. Tsipras also attended (the year before last) the ‘Kathimerini’ conference…” he stated (on Kokkino) yesterday.
The statement came a day after Tsipras’s “no” to participating in the documentary, which is based on the book “The Last Bluff” byVarvitsiotis and Dendrinos.
Nikos Pappas, moreover, went a step further… beyond his “willing” participation in the documentary: he (pre)emptively called onFamellos and Tsipras to hold talks so that the leftist camp could “enter” the elections united. In other words, bypassing Tsipras’s refusal to create, instead of a party, a coalition with SYRIZA participating in it while maintaining its autonomy.
As we can see, Alexis’s once-close associate is passing the buck to Socrates, as if to say: you’re the president of SYRIZA—are you going to do something, or are you just going to wait for us to fall apart?
The trouble has begun…
SYRIZA-NEAR: For now, what Koumoundourou is clearly doing is abandoning calls for cooperation with PASOK, following its insistence on acting autonomously even on major initiatives in Parliament.
Such as the requests for a preliminary investigation into former ministersLivanos and Arabatzis (OPEKEPE) and for a parliamentary inquiry (wiretapping), which it submitted on its own without seeking joint action from the progressive opposition.
The point is that SYRIZA and New Left were indeed forced to act on their own, but with a significant delay: On Thursday afternoon, PASOK submitted its request for a preliminary investigation to Parliament; on Monday morning, the two left-wing parties followed with their own request.
You might say that the entire May Day holiday and weekend intervened, but you would be wrong. Because that is precisely why there is readiness and planning within party leaderships…
FRAGOU: Angeliki Fragou’s Navios Maritime Partners is the latest in a long list of Greek shipowners who have sold VLCCs to the Sinokor Maritime and MSC Mediterranean Shipping Company consortium.
As revealed, Navios had agreed in January to sell two older tankers—the Nave Galactic (built in 2009) and the Nave Buena Suerte (built in 2011)—for a total price of $136.5 million, though the buyer was not disclosed at the time.
It has now been confirmed that the ships were acquired by Sinokor and MSC, with the latter already joining the former’s fleet under a new name. The deal is part of a broader wave of transactions in which Greek shipping companies have sold a total of 19 VLCCs to the consortium, with an estimated value of approximately $1.42 billion.
Sellers include major names in Greek shipping, such as Dynacom, Maran Tankers, TMS, and others, while it is estimated that additional transactions remain unpublished or unconfirmed.
MSC–Sinokor’s activity has emerged as a key driver of the VLCC market’s restructuring, with a notable trend toward acquiring older tonnage from Greek interests, often through agreements announced with a delay or without full transparency, as noted in the market.
MARTINOS: Greek-based Minerva Marine, owned by shipowner Andreas Martinou, emerged as the winner in the “competition” to acquire two newly built and immediately available Suezmax vessels.
The vessels, with a capacity of 158,000 dwt and built in 2026, became available when their original owner was subject to U.S. sanctions and did not proceed with their delivery. This development allowed Samsung Heavy Industries to re-market them, attracting significant interest.
Ultimately, Andreas Martinos’s company secured the two tankers, which have already been added to its fleet as Minerva Kalliroi and Minerva Kalliope. Despite initial estimates of prices as high as $120 million per ship, market sources report that the final price was significantly lower.
The move is part of a strategy to strengthen the shipping company’s fleet, which numbers approximately 50 vessels.
ALAFOUZOS: Okeanis Eco Tankers (OET), owned by the Alafouzos family, has entered into three new loan agreements totaling $190 million, strengthening its financial base.
The funds will be used to purchase two Suezmax tankers currently under construction, as well as to repurchase two VLCCs that were under a sale-and-leaseback arrangement. Part of the financing, amounting to $90 million, relates to an agreement for the vessels Nissos Tigani and Nissos Vous, which were acquired for $198.6 million and are being built in South Korea.
This credit facility was arranged by a consortium led by E.SUN Commercial Bank and involving Greek banks, with a term of eight years and repayment in quarterly installments.
At the same time, the company entered into two additional agreements, each worth $50 million, for the repurchase of the VLCCs Nissos Rhenia and Nissos Despotiko, thereby completing its gradual transition away from sale-and-leaseback agreements.
GENCO: Genco Shipping’s net asset value (NAV) continues to strengthen, now significantly exceeding the latest takeover bid for Diana Shipping by Semiramis Palaiou, amid an upward trend in the dry bulk market.
According to estimates by five analysts, the company’s average valuation stands at $25.85 per share, above the rejected offer of $23.50. Some investment banks place the value even higher, at up to $26.60.
Genco’s board of directors rejected Diana’s proposal in March as “undervaluing,” while it remains unclear whether it will return with an improved offer. Attention is now turning to a potential proxy battle ahead of the annual general meeting, where Diana seeks to replace the entire board.
Indicative of the climate is that Genco’s stock is trading steadily above $24, exceeding the takeover bid.
COSMOTE-NOVA: Rumors have circulated in recent days regarding negotiations between the two companies aimed at Cosmote’s acquisition of Nova’s fixed-line network.
Euro2day.gr contacted both sides and receiveda “no comment”in response. This suggests that some discussions may be underway, albeit at an early stage.
BYLOT: Discussions between Bally’s Intralot and Evoke’s major shareholders and creditors regarding the submission of a binding offer by the former to acquire the latter have entered the final stretch.
It has become clear from the non-binding offer that this is a rescue deal. With an enterprise value in the range of 2–2.1 billion, Evoke’s shareholders are set to receive just 250 million euros (in shares or cash).
It remains to be seen, should a binding offer be submitted and accepted, how BYLOT will ensure that Evoke’s debt is treated as non-recourse.
BYLOT II: TheChameleon column had pointed out very early on that for BYLOT , not assuming Evoke’s high-interest debt is a “red line.”
The British company is burdened by net debt of £1.9 billion and a net debt-to-EBITDA ratio of more than 4x, which is likely to worsen (to approximately 6x), following the increase in the tax rate on gambling from April 1.
If the above “red line” is not shifted, Evoke’s creditors’ interest is focused on BYLOT’s proposed business plan, which anticipates significant synergies due to Evoke’s scale in the UK market.
If they deem its implementation realistic and there is a noticeable improvement in the prospects for repayment.