The privatization and utilization project for former Athens airportĀ EllinikonĀ is in danger of getting lost in the labyrinth of Greek bureaucracy after the decision of the State Audit Council to temporarily freeze the signing of the contract between the Hellenic Republic Asset Development Fund (HRADF) and Lamda Development.
The State Audit Council ruling blocked the sale of 100% of Ellinikon SAĀ by HRADF on the grounds that rules of transparency, equal treatment and competition had been violated during the tender process. The ruling was issued after the court inspected the draft of the sale contract and the procedure to select the highest bidder in the property’s sale.
The Council objected to a change to the tender’s terms in its second stage, compared to the terms in the invitation for expression of interest, and the wording of the conditions that only companies can enter the tender and not individual bidders. Such late changes in the terms of a contract put up for tender are forbidden by both Greek and European law. Also, regarding the condition on bidders, the Council said that there are no reasons to justify such an exclusion.
Lamda Development issued a statement saying that it will submit a request for the revocation of the Council’s decision.
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