Landmark Legal Victory for ThPA S.A. in the Volos Port Privatization Tender

We are proud to announce a significant legal milestone for our client, ThPA S.A. – Port of Thessaloniki, in the high-stakes international tender for the privatization of Volos Port Authority S.A. (OLV S.A.).

Following the unprecedented cancellation of the tender process by Growthfund, the successor to the Hellenic Republic Asset Development Fund, our team spearheaded a robust legal strategy to protect our client’s rightful position as the declared Preferred Investor.

In a landmark ruling (Decision no. 869/2026), the Council of State has fully vindicated ThPA S.A., ruling that the cancellation process lacked the necessary transparency and proper notification. The Court has now referred the case to the Hellenic Single Public Procurement Authority (EADISY) for a substantive review regarding the legality of the tender’s termination.

Having successfully defended our client throughout both the initial award and the subsequent complex litigation, we are honored to be at the forefront of this case, which establishes a vital legal precedent for future privatization tenders in Greece.

We extend our sincere gratitude to ThPA S.A. for their continued trust and congratulate our dedicated legal team—led by Managing Senior Partner John C. Dryllerakis and Senior Partner Emmanuel Dryllerakis, with valuable support from Partners Eleftherios Rantos and Dimitris Karavas, Associate Ioanna Papadogiorgaki, and Junior Associate Athina Bestitzanou—for their tireless work on this institutionally significant matter.

We look forward to the next steps before the EADISY as we continue to steadfastly support our client’s strategic interests and uphold the integrity of the public procurement process.