23 October 2014

Legal arguments concluded yesterday, 22 October, in the District Court in the hearing of the interim application by the shareholders of FBME Bank Limited to freeze any action by the Central Bank of Cyprus to sell the FBME branch. The Court has reserved its judgment for a future date.

FBME Bank argued that no move to sell the branch should be made before the arbitration takes place in Paris at the International Chamber of Commerce. On 29 October, the District Court will hear a supplementary affidavit from FBME concerning the case.