na ja, dann wissen wir wenigstens vor welchem gericht die musik spielt....dozens of class action suits currently before the Council of State, Greece's supreme administrative court, contesting government decisions for a haircut of Greek bonds.

Bond swap deal brings 7000 people to court

23 Apr 2012

There may be few of them, compared to the total percentage of completion, but the few thousand bond holders who lost out during the bond swap procedure, are not going down without a fight. (file photo) Approximately 7,000 bond holders were represented in dozens of class action suits currently before the Council of State, Greece's supreme administrative court, contesting government decisions for a haircut of Greek bonds.   The number of cases before the court reached 72 on Monday, with as many as 200 plaintiffs represented by each suit, while the nominal value of the bonds in question amount to dozens of billions of euros.   Among the plaintiffs are several companies, such as pharmaceutical companies and suppliers of medical equipment and consumables, the Athens Chamber of Commerce and Industry, professional associations and social insurance funds.   The ACCI, for example, claims in its suit that the decision has slashed its reserves from nearly 11 billion euro on March 9 to just 5.6 billion euro at present, while it emphasises that these amounts were not the result of state subsidies but exclusively from the contributions of its members. (AMNA)    http://www.athensnews.gr/portal/11/55132