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“VDV Leben Insurance” license in Greece suspended. Legal action

The Hellenic supervising authorities have decided to permanently revoke the operating license of the insurance company “VDV LEBEN” on January, 5, 2011 (already suspended since last September). The company can no longer honor its commitments on the insurance contracts/financing tools it has concluded in house mortgages, health insurance and pension schemes.

This has emerged as a major issue for hundreds of contract holders throughout Greece. Our Law offices disposing of a valuable experience from the successful settlement over the Lehman structured products case and following an in-depth research have opened the case on behalf of several contract holders in order to file legal claims versus all parties involved on that case. Update and more details on our Greek home web page.