Kyros Law is representing Greek depositors with hundreds of millions in losses in Cyprus Banks.
If you a non-Cypriot and have deposited $100,000 or more in the Cyprus Popular Bank (Laiki Bank) or the Bank of Cyprus, contact us now to protect your investment.
Complete the form on this page or call 1-800-934-2921 for a free no obligation consultation with a lawyer.
If you deposited money in Cyprus Popular Bank or the Bank of Cyprus, we can help!
If you a non-Cypriot and have deposited $100,000 or more in the Cyprus Popular Bank (Laiki Bank) or the Bank of Cyprus, contact us now to protect your investment. Complete the form on this page or call 1-800-934-2921 for a free no obligation consultation with a lawyer.
Protecting the rights of Cyprus depositors.
The International Monetary Fund and European Union are bailing out Cyprus, but the country is still experiencing huge losses that may affect non-Cypriot depositors in the Bank of Cyprus or Cyprus Popular Bank, which is usually referred to as Laiki Bank.
The bailout agreement forces the country to close Laiki Bank and levy all its uninsured deposits. The decision is bound to affect many people both within and out of Cyprus considering that Laiki is the second largest bank in the country.
The government of Cyprus started experiencing difficulties following the explosion of the largest power plant in the country in 2011. In addition, the country incurred significant losses when the EU waived most of Greece’s debt.
Foreign investors suffer losses from Cyprus banking bailout.
Although Russia gave Cyprus a large loan, the country kept experiencing more problems with its banks. The problem became so bad that it requested a bailout in June 2012, and the agreement was finally reached in March 2013.
The bailout agreement gives investments of Cyprus’ residents top priority. Since the country signed Bilateral Investment Treaties with at least 23 countries, foreign investors can sue it for discriminating against them. Investors with bonds in the country’s banks may face devastating financial consequences, and EU bailout will influence them significantly for the first time.
Since the new policies favor Cypriot investors at the expense of their foreign counterparts, the latter may file discrimination charges. Bondholders and those who have deposited more than £100,000 may sue the country for discrimination against foreign investors.
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About Kyros Law
Kyros Law specializes in a wide range of complex litigation, mass torts, and corporate governance matters, including the representation of whistleblowers, shareholders and consumers in securities fraud, false claims act and class actions. Our lawyers have been responsible for recovering hundreds of millions of dollars for our clients throughout the United States, Africa, Asia and Europe.