Attica Bank pushes Kalogritsas group for a solution

Attica Bank is upping the pressure on the Toxotis construction company, a part of the Kalogritsas Group, having sent it a letter giving it 15 days to submit a credible solution for the settlement of its loans, which is to be approved by a surveying company that Attica has appointed.

Attica stresses in its letter that the Toxotis debts are “considerably delayed,” adding that “despite the clear position of our bank that any further financing would be impossible for you, and the repeated meetings and contacts during which you offered clear assurances that you would find an immediate solution to the major structural and financial problems of your group, you have not appeared consistent with your commitments.”

The bank goes on to suggest that unless the construction company is compliant, the loans will be terminated, which includes the threat of taking recourse to justice.

In another letter, Attica asks for information regarding the agreement between the Kalogritsas Group and Ellaktor for the latter construction group to undertake the contracts the former is unable to implement.