Long delay in resolving Laiki Bank cost creditors over €200m

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Long delay in resolving Laiki Bank cost...
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Stricken Laiki Bank depositors are so far looking at receiving five or six cents for every euro they lost when the lender was shuttered in 2013 as part of Cyprus’ bailout, the House ethics committee heard on Wednesday.

MPs heard that the huge delay in resolving the bank has cost creditors over €200 million.

In total, Laiki creditors lost €4 billion – everything over €100,000 — when the bank was placed in resolution.

Since then, revenues from assets sold by the administrator reached €192m. Assets also include a 4.8 per cent stake in the...


This article was automatically added to our system 4-9-2019

Long delay in resolving Laiki Bank cost creditors over €200m


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Article Tags: delay, resolving, laiki, creditors,