Cyprus Mail

Former Laiki creditors and depositors could end up managing legacy (Update-2)

By Stelios Orphanides
Creditors and depositors at former Cyprus Popular Bank (Laiki) who lost money when the lender went down two years ago may end up managing what is left of the defunct lender.
Chairman of DIKO, Nicolas Papadopoulos said his party will on Wednesday table a law proposal amending the resolution law allowing creditors and depositors to take over control of legacy Laiki. DISY chairman Averof Neofytou said that ways have to be considered to transfer the management of legacy Laiki to its beneficiaries if they also assume the responsibility of the outcome.

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