-
.
- Ελληνικά
An appeal was filed by the Attorney General of the Republic, on behalf of the Republic of Cyprus, against the second decision of the Limassol District Court, dated 30 November 2023, in which he vindicated the plaintiff depositors and held that they "have suffered damage to their property and are therefore entitled to compensation" from the Republic, for the losses they suffered due to the impairment of deposits in Laiki Bank in 2013, under the "Resolution of Credit and Other Institutions Law of 2013".
The appeal is against the entire decision of the Limassol District Court. In particular, the Republic of Cyprus challenges the findings of the Court as to its responsibility in relation to the handling of the financial crisis and its link to the collapse of the banking system and the impairment of deposits. Furthermore, the Republic of Cyprus contests the Court's finding that it must pay compensation to depositors.
This judgment of the Court of Justice on appeal departs from the plethora of judgments handed down to date in such cases, where similar claims have been rejected by the courts.
(M/L/MS)
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO
Source
