SELMAN, the new (?) buyers and the reaction of the Larissa Prosecutor’s Office

SELMAN, the new (?) buyers and the reaction of the Larissa Prosecutor’s Office

The SELMAN wood products manufacturing plant in Komotini appears to be returning to the hands of the group that bankrupted it, through a company that the group in question founded just 14 days before the bankruptcy auction of 12-29-2022. The incident is unprecedented, as SELMAN has been a company of interests of the same family since 2010, under the ownership and management of which it went bankrupt in 2014, leaving unpaid debts of over 140 million euros, including to the State, insurance funds and employees .

Essentially, the same persons who left unpaid debts of millions, now appear as new investors in order to repurchase the most important part of the property of the company that they themselves went bankrupt, paying only 5.7 million euros.

The bankruptcy process has not been completed until today, no creditor has received a single euro from the process and of course the amount of SELMAN’s debts is such that even if all its assets are liquidated, it is a question whether it is going to be paid off 15% of its debts.

In other words, instead of imposing on the owners and managers of SELMAN the obligation to pay off their creditors, they were allowed to buy the most important asset of the company that they themselves went bankrupt “in exchange for a lentil board” and indeed freed from the bankruptcy debts.

It is therefore not a coincidence that, according to our valid information, the Head of the Larissa Appellate Prosecutor’s Office ordered a criminal preliminary investigation into the circumstances of the reacquisition of the SELMAN factory by the persons who controlled the company and bankrupted it, even ordering the Larissa Prosecutor’s Office to cooperate with the Economic Police in order to investigate any criminal responsibilities.


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