Greek assets in US at risk after C4I ruling

Greek assets in the US face confiscation, Kathimerini understands, after an American court of arbitration upheld an older judgment by the International Chamber of Commerce ordering Athens to pay 40 million euros to a US-based company that supplied it with a security system for the 2004 Olympics known as C4I.

According to sources, US judicial authorities deemed that the fine imposed on Greece in 2013 should be payable immediately and had recently pressed the Greek Foreign and Citizens’ Protection ministries as well as the State Legal Council in connection with the penalty.

Government and Greek Police officials on Wednesday confirmed to Kathimerini that there were plans to seize Greek assets in the US, adding however that the response of the Greek state to the threat had yet to be determined.

The government and State Legal Council are to cooperate in planning a response, sources indicated.

In its 2013 ruling, the ICC rejected Greece’s claim that it never officially accepted delivery of the so-called C4I security system because of technical deficiencies.

The ICC ruled that Greece must pay 40 million euros to US defense company Science Applications International Corporation (SAIC). The Greek state and SAIC signed a contract in May 2003 foreseeing the delivery of the system to Greek authorities in time for the Athens 2004 Olympics.