Court Adjourns Hearing on Sale

16 September 2014

Yesterday, the District Court of Nicosia, before which the application of the FBME shareholders for an Interim Order was fixed for hearing, adjourned the process, in view of the fact that the file of the case was put before it only then. It is furthermore noted that the Republic of Cyprus, one of the Respondents in the aforesaid Application, failed to file its opposition in time. Procedural issues were also addressed and as a result the Court has fixed the Application for directions on 29 September 2014. The Central Bank repeated its commitment not to issue any order or make a binding agreement concerning the sales of the Branch, until the judgment is handed down in the interim application.