Following the publication of the decision by the Plenary Session of the Supreme Court on a preliminary ruling regarding Law 3869/2010, the Board of Directors of the Association of Loan and Credit Claims Management Companies (EEDADP) convened and unanimously reached the following decisions, as announced a short while ago:
1. The Loan and Credit Claims Management Companies (EEDADP) fully respect and comply with Decision No. 6/2026 of the Plenary Session of the Supreme Court, which ruled that interest on the arrangements under Article 9(2) of Law 3869/2010 is calculated on the respective monthly installment and not on the total principal owed. This ruling of the Full Plenary Session is to be applied by the EADAPs immediately and without any reservation as to its substance.
2. The EADAPs have an institutional and legal obligation to accurately determine debts and collect them. This obligation, which they assumed upon signing the receivables management agreements within the securitizations of the “Hercules” plan, is inherent in the protection of the public interest and of taxpayers, who have also borne the ultimate burden of the Greek State’s guarantees.
3. The decision of the Supreme Court (Full Court 6/2026) makes it clear that for loans subject to the provisions of Article 9 of Law 3869/2010, the proper method of calculating interest is compounding on the installment rather than amortization against the principal, as determined by the relevant court decision. In the practical application of the decision of the Plenary Session of the Supreme Court, however, a question has arisen regarding the duration of the interest accrual period for each monthly installment, on which different opinions have been expressed by legal experts and professional bodies. This issue requires clarification so that the Real Estate Asset Management Companies (REAMCs) can effectively and technically implement the decision of the Plenary Session of the Supreme Court.
4. Until this issue is clarified, the Management Companies (EDADP) urge debtors under Law 3869/2010 to continue paying the amount corresponding to the principal portion of their monthly installment.