Presentation of the new Act on S.A.s to TELCO/WYLTOR

Presentation of the new Act on S.A.s to TELCO/WYLTOR

KOUMENTAKIS & ASSOCIATES presented the new Act on Societe Anonyme to TELCO/WYLTOR. Mr. Stavros Koumentakis, Senior Partner, highlighted the business opportunities emerging after the changes introduced by the new Act on Société Anonyms, presented the new framework and referred in detail to specific provisions, ways on how to protect the client from “internal and external dangers” and on how to utilize the options offered by Act 4548/2019 regarding:

  • Minimizing expenses
  • Attracting and maintaining capable executives
  • Attracting investors
  • Making good use of technology.

As Mr. Koumentakis put it: “The new Act on Société Anonyms is a great opportunity, one that businesses must take advantage of. Act 4548/2018 broadens the responsibilities and exposure of the Board of Directors to civil, penal and administrative sanctions, a fact that may end up being a serious problem if there are no relevant insurance provisions in place.” Mr. Koumentakis also highlighted that “introducing relevant statutory provisions is deemed necessary”.

The Administration and Executives of TELCO/WYLTOR partook in the presentation, which was an excellent opportunity to exchange views on extremely important aspects of the Act.



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