-
.
- Ελληνικά
The choice to resolve Laiki Bank under the relevant legislation was essentially the best one to avoid disastrous consequences for the Cypriot economy and society in general, and the plaintiff depositor was not placed in a worse position than it would have been had the resolution measures taken by the State in respect of the former People's Bank under the Resolution of Credit and Other Institutions Act 2013 not been chosen. The above is stated, inter alia, in a decision of the Limassol District Court, dated 8 September 2023, in which it dismissed an action on the constitutionality of the 2013 resolution measures, which was brought against the former People's Bank, the Central Bank and the Republic of Cyprus.
Accordingly, the Court dismissed all of the plaintiff's claims and awarded costs in favour of the defendants.
The case was handled on behalf of the Advocate General of the Republic by Ms Zakelina Erotokritou, Advocate General of the Republic, and Mr Angelos Panagi, Advocate General.
(M/L/EP/EXP)
Contents of this article including associated images are belongs to PIO
Views & opinions expressed are those of the author and/or PIO
Source
