An Athens court on 4 December passed down a 10-year prison sentence to Greek shipowner Victor Restis after finding him guilty of making a false statement, but he was released as the term was suspended, however a travel ban has been imposed on him.

Bank accounts of leading Greek shipowner Angeliki Frangou have been frozen by Greek judicial authorities investigating lending by Marfin Bank, which is now under the control of Piraeus Bank, Greece's largest bank and leading domestic lender to Greek shipping.

Prominent Greek shipowner and football club owner Evangelos Marinakis has been cleared of match fixing by the country's apex court.

The Greek Appeal Court freed shipowner John Karageorgis on EUR100,000 ($111,538) bail 4 October, five days after he had been detained by police over a warrant issued by Dutch authorities with regards to the bankruptcy of a dairy firm in which he was a shareholder five years ago.

At first it was Cyprus, then Singapore and London, now it is Dubai and Canada, which are openly courting Greek shipowners looking for alternatives to their home base as they face an increased tax burden in future.

Evangelos Marinakis, one of the best known names in Greek shipping and Greek sport is never far from the headlines, especially as owner of the perennial Greek football champions, Olympiakos.

Greece’s business and shipping community is reeling as police hunt for a group of individuals who attempted to abduct a young shipowner, from outside his office on 12 December.