The Corinth Court of First Instance has published its decision confirming the Liquidation Agreement of the Consortium Club Otel Loutraki Casino Tourism and Hotel Enterprises S.A.

The debtor (consortium) and creditors, whose claims account for the vast majority (90.74%) of the total claims affected against it as well as 64.41% of the special preferential (letter of credit) claims and 95.35% of the other (insolvent) claims, co-signed the winding-up agreement.

All agreed terms of the reorganization agreement have been ratified. This means that the Casino of Loutraki and the hotel "ClubHotelCasinoLoutraki" will continue to run their businesses. Hundreds of directly and indirectly employed people will also be able to keep their jobs, and all creditors' claims will be satisfied at a much higher rate (32% vs. 1.3% in the event of bankruptcy and liquidation of the company's assets).

The company has already started carrying out the steps required by the ratified resolution agreement, such as notifying creditors and issuing debt identities. From the date of the agreement's signature (6 November 2023) until the ratification decision was issued (12 July 2024), the company paid the agreed-upon amounts to the Greek State and e-EFKA.

Finally, it is noted that the Comer group "reiterates its commitment and dedication to the healthy business development of the company and wishes the immediate implementation of the agreed terms, given that this investment is part of a continuously evolving business plan of large scale and long-term prospects for our country.".