The liquidation of the Kythera Development Company has been completed

The liquidation process of the “Kythera Development Company - OTA Limited Liability Company” has been successfully completed, according to the decision of 30-11-2020 of the Company's Autonomous General Assembly, in which the majority of the shares are held by Municipality of Kythira. After the liquidation and the payment of taxes and all kinds of liabilities, the following amounts were distributed to the 2 sole shareholders of the Company:

1. To the Municipality of Kythera, 52.668€ from return of share capital and 49.714,96€ from retained earnings.
2. In Domestic Property Committee, € 532 from return of share capital and € 502.17 from retained earnings.

The dissolution and liquidation of ANKY was a firm political decision of the Municipal Authority, in the context of the rationalisation of the operation of the Municipality. ANKY was established in 2010 with the main objective of exploiting the Cave of Ag. Sophia and of Camping in Kapsali. However, this process was pathogenic as, on the one hand, ANKY did not have nor could hire permanent and qualified staff (e.g. with knowledge of foreign languages, management procedures, etc.) but only seasonal staff (with all that implies), and on the other hand, these 2 sites (Cave and Camping) belong to the exclusive management of the Domestic Property, where they were eventually returned by the current Municipal Authority.