FBME says CBC embarrassed after court rejects liquidation

12-5-2017 Business Mail BusinessMail Cool

FBME says CBC embarrassed after court rejects...

By Stelios Orphanides

The Nicosia District Court which rejected the Central Bank of Cyprus’s application to appoint a liquidator to FBME Bank has embarrassed the supervisory authority, the Cyprus News Agency reported on Friday, citing the Tanzanian lender.

The ruling, issued on Wednesday, criticises the Central Bank of Cyprus’s handling of the case of FBME and its decision to file for its liquidation in Cyprus in December 2015 on the grounds that it was required by the law, the CNA reported citing a statement issued by FBME.

The Central Bank of Cyprus placed FBME under administration and...

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