Jointly with our partners Stelios Americanos & Co LLC, a
full services commercial law firm headquartered in Cyprus, we would
like to update you on the situation and the available options at
the moment for all the depositors in Laiki Bank and Bank of
Cyprus.
1. Cyprus Litigation and road to ECHR/ CJEU:
Following the decision of the Supreme Court of the 7th of June
2013 the only available course at the moment is an action for
damages at the appropriate district courts in Cyprus. Such an
action may be filed against the Government, the Central Bank of
Cyprus, the implicated banks (both in Cyprus and in Greece) and the
implicated European Institutions. We are also following the
investigations of the special committee appointed by the Government
in order to determine who is to blame for the bank crisis in Cyprus
and accordingly any action may be filed even against natural
persons at the decision making level of either the banks or the
government, on grounds of breach of
