Bernitsas Law advises Intrum Hellas on the sale of Tethys Portfolio

Bernitsas Law advised Intrum Hellas acting as coordinator on the secondary sale and transfer to a consortium consisting of SMERemediumCap / Latonia Enterprises Company Limited – Athanasios Laskaridis family office / WHG Europe Limited – Brown Hotels of a portfolio of securitised loan receivables, with a total legal claim of €285m (project Tethys), originated by Piraeus Bank, serviced by Intrum Hellas and sold and transferred by three securitisation SPVs, Sunrise I NPL Finance DAC, Sunrise II NPL Finance DAC and Vega II NPL Finance DAC.
Tethys is secured over hotel and hospitality real estate assets located in popular Greek tourist destinations and is the first sectoral portfolio of loan claims sold in the secondary market in Greece.

Partner Athanasia Tsene led the team advising on this transaction consisting of Counsel Dionysis Flambouras and Junior Associate Maria Vertzagia. Senior Associate Tania Patsalia advised on Data Protection, Privacy and Security.



Project Tethys

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