Italy 
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Court puts Ektasis Development into administration
Property development company Ektasis Development has been put into administration by an Athens court. Ektasis used to control a portfolio of real estate assets and leasing contracts worth more than €390 m.
Reportedly, the court’s decision was based on the failure of the Ektasis defense to make its main statement, tipping the balance in favor of the crediting banks, even though the company claims it paid €272 m from 2009 to 2017 to pay off debts.
Today Ektasis owns over 30 properties, most of them plots of land, with an estimated combined value of 110 million euros. Ir also collects rents of €4 m/year.
