Tag Archives: supreme court

Litigation Law Update: Cyprus Supreme Court decision on haircut of BOC and Laiki clients

Banking, LitigationBy Admin June 7, 2013

The Supreme Court of Cyprus issued a ruling today (Friday, 7/6/2013) on the 55 administrative recourse filed by bank depositors against decrees imposing the resolution of Popular Bank, which is being wound down, and Bank of Cyprus, where large depositors have been forced to forfeit savings for equity stakes in the bank. The Supreme Court…

Client Update: Legal actions against Bank of Cyprus & Laiki Bank (“Popular Bank”)

Commercial, Litigation, NewsBy Admin April 24, 2013

On the 23.04.2013 the Supreme Court of Cyprus began reviewing the first administrative recourses filed against the decree issued on the 29.03.2013. The decree implemented the Eurogroup’s decision to wind down Laiki Bank and impose massive losses (“haircuts”) on all deposits in excess of €100.000 at both Laiki and the Bank of Cyprus. The recourses…