Council of State hears arguments against liquidation of Thessaloniki transport organisation

The plenary of the Council of State on Friday heard the arguments of former Thessaloniki Organisation of Urban Transport (OASTh) shareholders protesting the state’s takeover and the public company’s liquidation.

The shareholders told Greece’s highest administrative court that a 2017 law and ministerial decisions that placed OASTh under state control and liquidation contravenes the European Convention on Human Rights, among other things.

Law 4482/2017 on “the new regulatory framework for urban transportation in the Thessaloniki region” establishes a new entity (Organisation of Transportation Works of Thessaloniki, OSETh SA) as of December 2019.

The shareholders’ legal representatives argued that it’s illegal for the state to delay compensation of shareholders until the liquidation process is completed, while the state argued that the new law was introduced in the public interest and in order to submit the organisation to fiscal review.