The process began last year and is now in the second cycle of the competitive dialogue since January 2024. The dialogue with potential investors involves a 30% discount on real estate purchases from auctions, as well as repurchase by the debtor. There will also be an entry of experts into the property for autopsy and taxation of the Agency similar to real estate investment companies (REIC).
According to article 219 of the relevant law, if a vulnerable debtor is declared bankrupt or if a foreclosure is expedited against their principal residence by a mortgagee or secured creditor, they may request the transfer or lease of their principal residence to the Carrier.
The Acquisition and Leasing Agency has the power to reject the request for the acquisition of the main residence of the vulnerable debtor, if the autopsy report of the engineer establishes the existence of arbitrary constructions or uses in the specific main residence, which lead to a prohibition of transfer and cannot be arranged, or if their arrangement requires the consent of contemporaries in undivided horizontal or vertical ownership.
The changes in the law also provide for a 30% discount on the purchase of the property.
The participating bodies in the process are:
- "Bain Capital Credit"
- "Christofferson, Robb & co, LLC"
- "Fortress Credit Corp."
- The Association of Companies "KAICAN Hellas – Beaumont Summit Financial DAC"
