Initially secured through a parental provision in 1990, when Stefanos was merely two years old, the estate has navigated a series of financial turbulences. Following financial irregularities involving his father, 50% of the usufruct was subjected to an auction. In an eleventh-hour maneuver, Theodoros Kasselakis endeavored to assign his portion to Stefanos, an action ultimately nullified by judicial decree.
Despite these setbacks, the Kasselakis family maintained usage of the estate. By 2017, Stefanos succeeded in re-acquiring 50% of the usufruct, compensating the auction’s beneficiaries with €100,000. The transaction included a pre-notification clause, which was later resolved in 2018, thus consolidating Stefanos’ position.
Beaches reminiscent of an island in the Mediterranean
In 2004, a separate legal proceeding resulted in Stefanos’ grandmother obtaining the remaining 50% usufruct from his mother, predicated on a €90,000 debt claim. This strategic acquisition ensured familial control of the property, particularly following Theodoros Kasselakis’ loss of corporate control to an offshore entity associated with his legal counsel, Michalis Varklandis. The story of the Kasselakis estate reflects the multifaceted financial and legal challenges faced by the family, culminating in the eventual stabilization of ownership under Stefanos’ tenure.
