Kelemenis commences arbitration proceedings for the demerger of major hotel group

Kelemenis & Co. has filed a petition to commence arbitration proceedings for the demerger of the Sbokos Hotel Group, one of the leading hotel groups in Greece owning such hotels as Blue Palace, Agapi Beach, Cretan Malia Park, Koutouloufari Village Holiday Club, Village Heights Golf Resort and Sheraton Rhodes Resort (http://www.sbokoshotels.gr/ourhotels-en.html). The proceedings follow the reluctance of some of the shareholders to complete the demerger as it had originally been envisaged in 2013. The firm has been acting for one of the four Sbokos families owning the Group.