4 December 2016
On 29 November 2016 Cyprus’s Administrative Court, hearing the FBME case against the Central Bank of Cyprus (CBC), has ordered CBC, as the Republic’s Resolution Authority and Resolution Committee, to allow FBME’s lawyers to have access to key documents related to CBC’s takeover of the Cyprus branch of FBME in July 2014.
CBC has been given seven days to comply with the order.
The order, which represents an important breakthrough in the legal proceedings, gives the FBME legal team the opportunity make a review of correspondence, reports and other documentation related to the case.
This is part of the continuing of legal actions regarding measures taken against FBME in 2014 and subsequently.
Proceedings in the Cyprus courts, at the Arbitral Tribunal of the ICC in Paris, and legal action in the US, are underway.