Cyprus Mail
Cyprus

Bondholders withdraw lawsuits against central bank

The Central Bank of Cyprus

The bondholders association said on Thursday they are withdrawing lawsuits they filed against the Central Bank of Cyprus (CBC).

The association addressed a letter to new CBC governor Constandinos Herodotou, informing him that they are withdrawing lawsuits initiated against the central bank relating to alleged losses from the 2013 bail-in.

According to the Cyprus News Agency, they have also sent similar letters to the administrator of ex-Laiki Bank, the CEO of Bank of Cyprus and the chairman of the Securities and Exchange Commission.

In their missive to the CBC, after congratulating Herodotou on his recent appointment, the bondholders cited various reasons for withdrawing the lawsuits.

These included delays in bringing their cases to court, the old age of certain individuals, and “personal reasons.”

The association also requested that those persons withdrawing their lawsuits not be burdened with attorney fees.

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