27 August 2014
Shareholders of FBME Limited have said that they are holding the Central Bank of Cyprus and individuals within the Central Bank personally liable for damage and loss suffered by FBME Bank, its depositors and owners. Those persons considered responsible include but are not limited to the special administrator appointed by the Central Bank to control the operations of the Cyprus branch of FBME Bank.
The stated intention of the Central Bank has been to expropriate the Cyprus branch and to sell it to outside interests against the wishes of its owners. Resolution powers have been imposed against the Cyprus branch of the Bank, whereas those powers were designed only for institutions facing insolvency, not healthy banks such as FBME.
The shareholders are seeking a legal solution to the actions of the Central Bank of Cyprus and its administrator in line with protection afforded under Cypriot, EU and international law.
FBME Bank’s Cyprus branch has been prevented by the Central Bank of Cyprus’s administrator from keeping its depositors, correspondents and others from being informed as to what is happening. As a result the holding company has responded by posting regular updates on this website. Please keep visiting.