Say you are a US investor. You buy an olive oil processing plant in Greece, which has an exclusive arrangement with a local cooperative of olive oil farmers. You learn that one of the owners of the Greek processing plant is also one of the cooperative owners and he has paid for lavish vacations and dinners for a local Mayor to block a competing cooperative from establishing a business. No problem? There will be when the US SEC/Justice Department, sues you under the Foreign Corrupt Practices Act. Very careful legal diligence is required in acquisitions of Greek businesses from a number of perspectives.
By George Kounoupis of Hahalis & Kounoupis, P.C. - Greek Law Group on Wednesday, October 21, 2015.
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