Mr. Artemis Sorras, as the legal beneficiary of International Bills of Exchange (IBOE) – debt securities of the American Government, has every right to use them for the provision of a loan to countries as he decides, on the condition that he informs the American State beforehand and provided he allows for the necessary time for possible protests against any act of a loan that he himself intends to proceed with.
The proposal was submitted to the Government, initially through the American Embassy in New York and then other relevant documents were supplementarily sent through the embassy in Canada, Ontario and finally by hand with a receipt protocol of delivery and extrajudicial report.
Bond amount for the payment of all existing debt by foreign lenders and the funding of arising needs.
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600,000,000,000 (600 Billion) USD
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Coupon Interest Rate
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0%
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Furthermore, there is a separate packet of support for the banks and the private sector.
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This will be agreed if the above debt security doesn’t sufficiently cover. The interest will be agreed by both parties separately and based on the type of projects and the feasibility plan. It will range from 0% (In special instances up to 0.5%)
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Expiry/Payment of the loan
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As agreed, (50 – 100 years)
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The power of attorney beneficiary
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Mr. Artemis Sorras
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Committee of Administration and Control
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A committee of Professors and Specialists from various departments
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Recognition
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US Treasury
US Treasury Offset Payments United States Secretary of Transportation | |
Guarantee/Reinsurance
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Bonds of the Greek State
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Value of Greek Bonds
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1:1
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Transfer of Greek bonds through the method of DVP (Delivery Versus Payment)
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The bonds will be paid, and since they will be located within the special account that will be created in favour of Greece, Greek bonds will be transferred against the funds delivered.
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Disbursements
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Every disbursement will follow the payment program that will be submitted together with the final contract. The request for disbursement will have to bring the seal of the Control Committee of the special Inspector appointed by Mr. Artemis Sorras. In case of any disputes, the arbitrator committee will decide within a reasonable time frame.
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Payment
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After the disbursement of the debt security and after the disbursement, the Government is obligated to pay the first payment, namely approximately 10% of the total amount. The remaining 90% will be paid gradually for as many years as decided (50 – 100).
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Cost of control by the administrative/ control committee upon the starting inspection of the file and throughout the process as the audit advisory committee.
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0%
In special cases, if the agencies of the Committees from the Greek Government request this, there will be a separate special agreement. Early disbursement has been foreseen based on a temporary agreement until the completion of the final contract, for as many funds as agreed to, based on the report presented by the Government. | |
Conditions & Prerequisites
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a. An audit of the Debt by a committee of international experts under the supervision of the Supreme Court (Areios Pagos) for the verification of the true amount of the Public Debt, and if irregularities are found, b. the necessary accountability will be given to the public officials held responsible.
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Committee of Arbitrators: Will be accepted by both parties and in rotation if an Arbitrary Tribunal is required.
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§ Economist – Advisor 1
§ Economist – Advisor 2
§ Court Prosecutor
§ Independent Advisors:
Advisor 1 – Financier Advisor 2 – Greek Government |
· Payment of the external loan, final interest rate 0 % (initially 0.5% until the memorandums of the foreign lenders are cancelled),
· Funding of arising needs, interest rate of 0 % (initially 0.5% until the memorandums of the foreign lenders are cancelled),
· Funding of the banks with very strict conditions and an interest rate that will be agreed upon,
· The refinancing of the private sector in cases and in collaboration with the banks if so requested, will be agreed to at a low interest rate (ranging from 0 – 0.5% depending on the circumstances and the feasibility plan.
ON BEHALF OF THE FINANCIER, NO STRANGE CONDITION WAS REQUESTED, NO FUNDS OR ANY PAYMENTS FOR THE STUDIES OR FILE CONTROL ETC. WERE REQUESTED, NO FAVOURS WERE REQUESTED, NO CONCESSIONS WERE REQUESTED, NO STRANGE CONDITIONS. THE ONLY THING THAT WAS REQUESTED WAS A SERIOUS ATTITUDE TO THE PROPOSAL IN A LEGAL MANNER AND THIS UNTIL TODAY, FOR MANY AND UNEXPLAINED REASONS, HAS NOT BEEN MADE.
The company that owns the debt securities has a trade contract with the American State and specifically, with the Secretary of Transportation who owes these amounts to the beneficiary for very large state projects (the supporting documentation accompany the debt securities). In turn, the company has irrevocably transferred the administration right, use and possession (holder in due course) to Mr. Artemis Sorras. The debt securities are listed on the screens of UCC1 of the American US Treasury.
In any situation, the beneficiary has to firstly inform the American State in writing when they intend to handle or transfer the debt securities for any commercial trade it decides. The undisputed validation of the IBOE’s validity, the proposal and the documents that accompany them, has been made by Mr. Sorras himself on behalf of the Sovereign Democracy of Ellas based on global laws that govern such issues and specifically, through four sequential letters that were notified through a systematic procedure and with protocol receipt of delivery to the immediately involved (dated 12/10/2012, 03/11/2012, 28/11/2012 and 06/11/2012) and specifically sent to:
· The U.S. Department of Treasury, Mr. Timothy Geithner
· Treasury Control System of America, responsible for offset payments
· U.S. Department of Transportation, Mr. Raymond H. LaHood
· The European Central Bank, Mr. Mario Draghi
· The European Union, Mr. Jose Emanuel Barroso
· IMF, Ms. Christine Lagarde
· The Hellenic Republic, the President and Prime Minister, the Parliament and the Supreme Court (Areopagus)
· The Bank of Greece
· The Republic of Cyprus, the President, the Parliament and the Attorney General
· The Central Bank of Cyprus
The bills of exchange have been notified with all of their codes to the debtor U.S. Treasury and in good faith, he stated and informed them that he intends to administer the debt securities as reinsurance in order to accomplish the funding of the Sovereign Democracies of Ellas and Cyprus or other, and he allowed for the necessary time for any protests or objections by the debtor.
Mr. Sorras, as the legal power of attorney holder, retained a well-known law firm in America, New York to inform the American State, as is customary. The aforementioned law firm, acting on behalf of Mr. Sorras as well as, under his instruction, on behalf of the Greek Government, informed regarding all actions to be made and requested to be informed accordingly regarding any possible protests and/or objections to any issue.
The legal firm in America undertook the responsibility of informing the American State in full regarding the entire process on behalf of Mr. Sorras and Greece with the following notification letters:
The First Letter was sent on 12.09.2012 which mentions that Mr. Sorras is the power of attorney holder and it depicts all of the codes of the IBOEs as they have been published. He declares that he himself assigned a custodial company to deposit into the bank account (it also refers to these banks) with the purpose of the future use of these IBOEs as reinsurance for an imminent loan. Twenty (20) working days for any protests were given.
NO NEGATIVE RESPONSE AROSE FROM ANY AMERICAN AUTHORITY TOWARDS THE AMERICAN LAW FIRM OR/AND ANYWHERE ELSE.
Since there was no negative response after the first letter, on the 03.10.2012, a new certified letter is sent. Here, the codes of the IBOE’s that Mr. Sorras decided to deposit for the credit of Greece and Cyprus, were shown. Certified copies of the bonds were listed, which would be placed in a special custodial account as credit for both parties separately.
THERE WAS NO OBJECTION/PROTEST BY ANY AUTHORITY TO THE TRANSFER AND PROPOSED FINANCING PLAN AND THE TRANSFER OF THE BONDS FOR THE CREDIT OF GREECE AND CYPRUS RESPECTIVELY.
On 26.10.2012 and since the American Government didn’t reject the plan and didn’t perform any objection to the benefactor’s deposit of the bonds on behalf of Greece and Cyprus, Mr. Sorras continued and implemented the legal transfer of the Bonds in the name and credit of Greece and Cyprus respectively.
Consequently, he himself informed the American Government and confirmed the implementation of the transfer of six (6) units of American bonds worth One-Hundred Billion Dollars each, in other words 600 Billion USD in the Name and credit of Greece, and one unit with value 48,926,500,000 USD on behalf of Cyprus. He invited the American Government to inform of any objections or protests in regards to these transfers and deposits of the bonds giving a time frame until the 2nd of November 2012.
NO NEGATIVE RESPONSE AROSE FROM THE DEBTOR AND NO REFUSAL AROSE FROM ANY AMERICAN AUTHORITY UP TO THE 2ND OF NOVEMBER, WHICH WAS THE EXPIRY DATE.
On 06.11.2012, the American Legal Firm validated in writing that the American State did not bring any opposition / protest / obstacle regarding this investment / loan / transfer of the American IBOE’s for credit and benefit of the Sovereign Greek and Cypriot Democracies. LEGALLY, THE MATTER OF THE TRANSACTION / LOAN BY MR. SORRAS TOWARDS THE DEMOCRACY OF GREECE AND CYPRUS IS CONSIDERED FINALISED WITHOUT ANY RIGHT OF INTERFERENCE BY ANY AUTHORITY WHATSOEVER!
Therefore, since there was no protest or objection by the debtors towards Mr. Sorras and his proposals regarding the imminent loan and since he has performed every legal action in compliance with international law, his bonds are considered valid by all parties involved. The legal beneficiary Mr. Sorras, Greece and Cyprus, can easily and legally proceed with the deposit of the American IBOE’s into their public accounts in order to “automatically disburse” them without any problems and having in mind the function of the “fractional banking system”.
Moreover, in accordance with international regulation “Bona Fide Transferee & Holder in Due Course”, the recipient – and since the benefactor has acted in accordance with all the legal processes – can proceed with the disbursement of the shares without bringing any burden or problem.
Based on the aforementioned, the following has occurred:
· THE AMERICAN STATE IS ENTIRELY INFORMED SINCE 12.09.2012,
· THE LEGAL REVIEW IS CONSIDERED FINALISED AND NO OPPOSITION/ PROTEST HAS EVER BEEN MADE BY THE AMERICAN STATE,
· GREECE AND CYPRUS HAVE THE RIGHT TO DISBURSE THE GUARANTEES DEPOSITED BY MR. SORRAS WITHOUT ANY DELAY, DOUBT OR INTERFERENCE IF IT SO CHOOSES, WITH ONE PAYMENT MANDATE!
The debt securities regarding Greece and Cyprus, can already be found deposited as guarantees and for the benefit of the Sovereign Democracies of Ellas and Cyprus in a Custodial Account in the name of Greece and Cyprus respectively and under the supervision of the Custodian (the company assigned to oversee and transfer the debt securities upon request).
In this way, no lender CAN CAUSE A BANKRUPTCY OF GREECE OR CYPRUS if they are unable to pay any outstanding debts.
The Custodian is responsible for transferring the debt securities located under his custody, to the bank that was aforementioned, free of any encumbrance towards the new beneficiary as ordered by his patron. At any time the Government decides, without the need to proceed with further inspections (since all legal actions have been made by the beneficiary himself as mentioned earlier), it can deposit the debt securities into its accounts, in this way, creating a new and free fixed asset, as it also does with all of the other securities it handles, and it can easily proceed with their disbursement through its State mechanisms.
GREECE DOES NOT FACE ANY FORM OF RISK PROVIDED EVERYTHING HAS BEEN PERFORMED LEGALLY AND ALL EVIDENTIAL DATA EXIST.
GREECE DOES NOT PAY ANYTHING BEFOREHAND; IT IS NOT GIVING BONDS BEFOREHAND AND IS NOT SURRENDERING ANYTHING ETC. THE ENTIRE PROCESS IS VERY SIMPLE WITHOUT ANY RISK.
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