Aspis accuses A. Georghiou and not Universal

Aspis Holdings Pcl (formerly MFS Holdings) has accused Universal Life Insurance CEO Andreas Georghiou of misleading shareholders, customers and the investing public.

Aspis Holdings Plc says it never accused Universal Life (it holds 40% of UL), but Georgiou and his partners, who behave as if Universal Life belongs to them. “Georgiou must stop using Universal Life as his mouthpiece,” says Aspis in an official statement.
Aspis Holdings Plc lodged a complaint against the misleading actions of Georgiou and his partners because they do not protect the interests of Universal Life. “Although our Company had accused Schoeller – Path to the SEC for possible violations of the Law, which – if proved – would enforce Schoeller – Path to pay the additional sum of EUR7,700,000 to Universal Life, Georgiou did not cooperate with our Company to protect the interests of Universal Life but supported the illegal transfer to the benefit of Schoeller – Path before the completion of the procedure of the Public Offers. Georgiou’s behaviour is an unprecedented infringement of the economic interests of a public company, Universal Life, by its major shareholder, in his effort to promote his own interests.”