3 December 2014
FBME Bank submitted to FinCEN on 1 December 2014 a comprehensive forensic accounting report made by experts from the international consulting firm E&Y (Ernst & Young). In addition, the Bank has submitted to FinCEN hundreds of pages of documents regarding its anti-money laundering compliance programme and know-your-customer procedures. Submission to FinCEN was made on FBME Bank’s behalf by the international law firm Hogan Lovells.
2 December 2014
The judge at the District Court reserved judgment in the supplementary affidavit of the shareholders of FBME on 1 December, after hearing written and verbal submissions regarding the filing for arbitration at the International Chamber of Commerce in Paris. As is standard practice, she reserved judgment to a later date on this and on the interim application by the shareholders to stop the sale of FBME’s Cyprus assets and prevent measures by the Central Bank’s Administrator to further destroy the Bank’s business.