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From the Brig

payment instructions issued to the paying party, collection of debts much more difficult. Of course,
with the hope of diverting funds to the bogus there must be balance between customer relations

accounts of the fraudsters. These frauds can be and robust collections, but excessive delay is so

difficult to spot before they arise, so great care often the difference between collecting payment
must be taken by anyone who receives a request to and suffering a bad debt.

make payment to an alternative account. It is
essential that anyone who receives revised One Year Time Bar Under Greek Law

payment instructions takes care to check those
instructions with the party supposedly issuing As always, the end of the calendar year means

them. Such instructions should be checked by a that anyone with claims that may be brought in

secure method. Simply sending an email will not Greece subject to Greek law should consider
do, as this email might also be intercepted by the whether it is necessary to commence proceedings

fraudsters. We suggest the use of the telephone.to protect against the one year time bar that
exists in Greece. Under Greek law, maritime If it is discovered that the instructions are false

claims have a one year time bar, which expires on then the parties involved are urged to report this
the 31 December of the year following the year to Salvus Law, who are monitoring such frauds and

that the claim arose. This means that any claim where possible seeking to engage with the relevant

arising in 2013 will be time-barred if proceedings authorities to have the perpetrators investigated.
are not brought by December 31st 2014. There

are circumstances in which that period is The Danger of Delay
extended without proceedings being issued, for

example if the claim has been admitted during We continue to see clients who are leaving it
2014. If you are in doubt of whether action is very late to chase payment for their invoices, with

required we strongly suggest that you seek sometimes fatal consequences. Bankruptcies and

immediate advice, since time is now very short to vessel demolitions are as common as ever, and it is
protect the claim. ucrucial to act before such things intervene to make