Central bank says FBME legal battle may delay payment of compensation

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Central bank says FBME legal battle may delay...
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The Central Bank of Cyprus said that the decision of the Tanzanian lender FBME bank to contest its decision at the court to liquidate its Cyprus branch is likely to delay the pay-out of compensation to depositors, two days after it activated the deposit guarantee fund.

“Unfortunately, the compensation of all depositors seems that it will delay merely because of the alleged owners of the bank who have resorted to the Nicosia District Court against the Central Bank of Cyprus’s decision to issue a special liquidation order,” the central bank said in an...


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This article was automatically added to our system 11-4-2016

Central bank says FBME legal battle may delay payment of compensation


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Article Tags: central, legal, battle, delay, payment, compensation,