Bill Papas’ company IUGIS HELLAS PC liquidated; his son seen training with Xanthi FC

Bill Papas

The owner of PAE Xanthi, Bill Papas, through the Australian company IUGIS, one of his most important business activities, had managed to become an entrepreneur with an activity that reached Europe.

After all, this was the company through which he had managed to achieve sponsorships with Liverpool and Schalke, which he included in his CV when he took over PAE Xanthi two years ago.

However, this Australian company actually went bankrupt last year, leaving dozens of its workers unemployed, as soon as the well-known scandal broke out with the banks accusing the Greek-Australian of embezzling hundreds of millions of dollars.

Since 2019, IUGIS had also acquired a Greek branch, IUGIS HELLAS PC.

Of course, the Greek company was not directly connected to the Australian one, but beyond the common name, 95% of the company IUGIS HELLAS belonged to Bill Papas, while the remaining 2% belonged to his partner Anastasios Halemis, a resident of Lagyno, Thessaloniki.

The capital of the company was 15,000 euros.

However, the two companies agreed on the dissolution of IUGIS HELLAS PC and its placement in liquidation on the last day of last year.

This was revealed in an announcement made to GEMI on March 9 (commonly after the well-known “scandal” broke out in Australia but before the revelations about the freezing of assets of Papas in Greece).

Vassilis Papadimitriou, i.e. Bill Papas, was appointed as liquidator of the company.

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Earlier in July, Bill Papas’ son was seen holidaying in Glyfada and does not hide it, posting a relevant post on social media, Thraki Sports reported.

The son of the president and major shareholder of PAE Xanthi, who has followed him to Greece and lives with him (he also appeared by his side in the final of the EPS Xanthi Cup), declares himself a football player and has posted a photo of himself wearing the PAE Xanthi jersey and taking part in a training session.

Coming from Australia, he obviously feels lucky that perhaps for the first time he has the opportunity to enjoy the beauties of the Greek seas under the special sun of Greece, for this reason he hastened on Monday to upload a photo of himself from a deck chair on a beach of Glyfada.

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Besides, this period of summer in the country where he grew up is… winter, as he is in the southern hemisphere and the seasons are reversed.

For this and the many comments of his friends from Australia, who are probably jealous of him for the possibility of this summer vacation, while in Sydney they have… floods.

From the photo he uploaded, however, he seems particularly cheerful and it is not possible to determine whether he has the same anxiety as most of the fans and friends of the team regarding the future of Xanthi FC, in which he also trained but mainly in which he is owned by his father.

What is certain is that in Xanthi this picture was commented on. Some say that it may be the message that everything is going well and soon the good news will come for the fans of the team from Xanthi.

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If this is not the case anyway, at a time when the tension is at its peak as to whether Xanthi FC will participate in the new league, a happy photo of the owner’s son from his vacation that was publicly uploaded to his profile giving access to everyone to see and comment on it, it could at least be characterised as a “communication error”.

Perhaps for this reason, the fans of the Thrace team have avoided comments or even likes, who, on the contrary, were quick to express their joy and satisfaction in the corresponding photo that Bill Papas’ son had uploaded from Xanthi FC training, in which participated as a football player…

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