Westpac to launch court action in Greece against Bill Papas

·

Westpac has won permission from an Australian court to launch legal action in Greece to enforce freezing orders over the international assets of alleged fraudster Bill Papas, The Sydney Morning Herald reports.

Westpac’s lawyers in Greece have already met with Mr Papas and Greek sporting authorities.

During the meeting, Mr Papas reportedly said he still owns Xanthi FC despite telling the Federal Court last year he sold his stake in the company that owns the club.

READ MORE: Bill Papas appears at Xanthi FC game in Greece despite arrest warrant.

Bill Papas at a Xanthi FC game. Photo: The Australian.

This comes as Westpac also secured Federal Court orders to also freeze the assets of Mr Papas’ girlfriend Louise Agostino, after she agreed to sell her one-bedroom apartment in Rozelle, Sydney.

Mr Papas resides in Greece with Ms Agostino after he fled Australia in the days before Westpac and two other lenders, Société Générale and Sumitomo, filed Federal Court civil action accusing him and his company Forum Finance of orchestrating a $500 million fraud against the banks.

READ MORE: Bill Papas’ cousin, Eric Constantinidis, added to Westpac’s legal case.

A record price is expected for Bill Papas’ waterfront holiday home.

Forum and associated entities were placed in liquidation last year. McGrathNicol recently sold Mr Papas’ luxury Sydney home for about $4.4 million. His two waterfront properties on the NSW Central Coast are on the block.

READ MORE: Record price expected for Bill Papas’ waterfront holiday home.

Federal Court judge Michael Lee last year issued an Australian arrest warrant for Mr Papas, given he had failed to engage with the court. That is expected to trigger an extradition order.

Source: The Sydney Morning Herald.

greek film festival 2025

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Step into the world of mental health with Georgia Cassimatis’ latest book

Greek Australian author and journalist, Georgia Cassimatis, has released a book all about exploring the world of mental health.

GOCNSW Welfare Service to put a spotlight on cyber security awareness

The Greek Orthodox Community of NSW’s (GOCNSW) Welfare Service has organised three Cyber Security Awareness education and training workshops.

Marriage of a Greek woman abroad: What to watch out for

It is during this registration process that numerous problems arise, which are not dealt with immediately but later on.

Athena Competition Greek winners show olive oil diversity

By Lisa Radinovsky from Greek Liquid Gold. At the 10th anniversary edition of the ATHENA International Olive Oil Competition in Chania, Crete, Greece in May, 175 Greek olive oils...

Greece’s island communities face population crisis

The demographic decline in Greece is hitting its islands hard, with Lemnos and Agios Efstratios showing alarming signs of aging populations.

You May Also Like

Greek community of Melbourne get festive to mark Greek Revolution bicentenary

Melbourne's Greek community was out in force on March 28, as they commemorated the bicentenary of the Greek Revolution.

World reacts to fall of Assad’s rule in Syria

Syrian opposition fighters have declared that the country has been “liberated” after they stormed the capital Damascus.

Greek Orthodox Community of South Australia celebrated the Dormition of Theotokos

The annual feast of the Dormition of Theotokos was celebrated by the Greek Orthodox Community of South Australia.