Cyprus Mail
Cyprus

Bondholders want to know who will compensate them post-solution

File photo: President Nicos Anastasiades meeting bondholders

Bondholders who lost their money in the 2013 banking crisis want to know who would be compensating them in the event the island was reunited under a federal roof.

The association said on Wednesday it had asked the president for a meeting to discuss the matter.

Bondholders want to know who would be footing the bill if they win the lawsuits they have filed against the state.

“The federal government or the Greek constituent state?”

The bondholders group represents thousands of investors who lost around €700m when the Bank of Cyprus and Laiki Bank bonds were wiped out in March 2013.

Laiki was subsequently shuttered while Bank of Cyprus remained afloat by seizing 47 per cent of uninsured deposits – over €100,000 – in exchange for equity.

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