FBME owners triple claims, now demand €1.5bn from Cyprus

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FBME owners triple claims, now demand €1.5bn...
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By Stelios Orphanides

The owners of FBME Bank Ltd, which resorted to international arbitration after its Cyprus branch was placed in resolution, have tripled their claims against Cyprus, sources familiar with the matter said.

“They now demand €1.5bn in damages,” a source said on condition of anonymity.

While a second source confirmed the information, none provided background about how the owners of the bank justified their new demand.

The owners of the bank initially resorted to the Paris-based arbitration court of the International Chamber of Commerce demanding €500m in damages,...


FBME owners triple claims, now demand €1.5bn from Cyprus


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