BOC to challenge Greek court ruling awarding investors compensation

11-4-2017 Business Mail BusinessMail Warm

BOC to challenge Greek court ruling awarding...

By Stelios Orphanides

A Bank of Cyprus source said on Tuesday that the bank will challenge the ruling of a Greek court awarding €460,000 in compensation to investors in securities issued by the bank who lost money in the 2013 banking crisis.

The source who was commenting on condition of anonymity a day after the Cyprus News Agency (CNA) reported of the March 13, ruling, declined to provide further comment.

The Athens-based court ordered Bank of Cyprus, the island’s largest lender, to compensate 24 bondholders, the CNA reported on Tuesday.

The court said that Bank of Cyprus failed to...

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