Laiki | Cyprus Mail

Charges dropped against former central bank boss in corruption trial (Updated)

Andria KadesJuly 31, 2020July 31, 2020

By Andria KadesJuly 31, 2020July 31, 202001230

The Nicosia criminal court on Friday dropped all charges against former central bank governor Christodoulos Christodoulou and three others, including his daughter, in a corruption...

Business Cyprus

Bank of Cyprus to sell Laiki insurance legacy

George PsyllidesJune 4, 2019

By George PsyllidesJune 4, 20190907

Bank of Cyprus announced on Tuesday it has signed a binding agreement to sell its entire shareholding of 49.9 per cent in CNP Cyprus Insurance...

Cyprus

Laiki owner fixed job for ex-CBC chief’s former son-in-law

Evie AndreouApril 3, 2019April 3, 2019

By Evie AndreouApril 3, 2019April 3, 20190174

The former son-in-law of ex-Central Bank (CBC) governor Christodoulos Christodoulou who is accused of taking €1m to turn a blind eye to the takeover of...

Business Cyprus

Fund to help Laiki depositors to be voted this week

Elias HazouMarch 12, 2019

By Elias HazouMarch 12, 20190171

The bill establishing a Solidarity Fund will be brought to the House plenum by the end of the week, MPs said on Tuesday. “One way...

Crime Cyprus

Irregular transfers highlighted in ongoing Focus case

George PsyllidesFebruary 27, 2019February 27, 2019

By George PsyllidesFebruary 27, 2019February 27, 20190286

The compliance department at Laiki Bank gave the okay for some €1m to be transferred to an account belonging to the son-in-law of former central...

Business Cyprus

Parliament to vote on fund for depositors

Peter MichaelFebruary 16, 2019

By Peter MichaelFebruary 16, 20190189

Parliament will vote on Friday on a Solidarity Fund to provide aid to Laiki depositors affected by the 2013 bail, the depositor’s group Sykala announced...

Cyprus

Cyprus collects €5m in legal expenses from Marfin win

Staff ReporterDecember 6, 2018

By Staff ReporterDecember 6, 20180102

The Republic has collected the €5m recently awarded to it for legal expenses in a case it won against a Greek investment firm at the...

Business Cyprus

Arbitration ruling in Laiki case vindicates central bank

Stelios OrphanidesAugust 2, 2018

By Stelios OrphanidesAugust 2, 20180212

By Stelios Orphanides The Central Bank of Cyprus said that it feels vindicated for its action with respect to Laiki Bank after the International Arbitration Court...

Cyprus

Arbitration court dismisses Vgenopoulos’s €1.1bn claims (Updated)

Stelios OrphanidesJuly 27, 2018July 27, 2018

By Stelios OrphanidesJuly 27, 2018July 27, 20180148

By Stelios Orphanides Attorney-general Costas Clerides said that an arbitration court ruled that Cyprus had not violated any of its obligations stipulated in a mutual...

Crime Cyprus

Criminal court reopens Laiki case

Elias HazouJuly 24, 2018

By Elias HazouJuly 24, 20180183

The Laiki trial took another twist on Tuesday after the Nicosia criminal court – which was expected to announce its verdict on the day –...

Business Cyprus

Court vindicates Laiki bondholder, compensation source unknown

Stelios OrphanidesJune 15, 2018

By Stelios OrphanidesJune 15, 20180139

By Stelios Orphanides A Cypriot court has ruled in favour of a bondholder, who had been talked into investing his deposits in contingent convertible bonds...

Cyprus

Former Laiki exec says he’s been made a scapegoat

George PsyllidesApril 2, 2018

By George PsyllidesApril 2, 201818 160

By George Psyllides A former Laiki Bank executive on trial for the lender’s collapse in 2013, said Monday he and other defendants have been made...

Business Cyprus Featured

Prosecutors establish prima facie case in Laiki trial (Updated)

George PsyllidesMarch 21, 2018March 21, 2018

By George PsyllidesMarch 21, 2018March 21, 20186 117

The Nicosia criminal court unanimously decided on Wednesday that former Laiki Bank executives have a case to answer to in connection with market manipulation and...

Cyprus

Ex central bank boss without lawyer in court

Evie AndreouMarch 7, 2018March 7, 2018

By Evie AndreouMarch 7, 2018March 7, 20184 167

By Evie Andreou Former Central Bank governor Christodoulos Christodoulou who is a defendant in the Focus corruption case is expected to file a request to Nicosia Criminal...

Business Cyprus

Laiki gets offer for stake in Malta’s Lombard Bank

Stelios OrphanidesMarch 7, 2018

By Stelios OrphanidesMarch 7, 20180130

By Stelios Orphanides The administrator of the defunct Cyprus Popular Bank has received an offer from a Maltese fund to buy its stake in Malta’s...

Cyprus

Laiki’s declining goodwill value not disclosed, court hears

Elias HazouFebruary 20, 2018February 20, 2018

By Elias HazouFebruary 20, 2018February 20, 20185 115

By late 2011 Laiki Bank had sustained a decline in its goodwill value of at least €330 million, a fact not disclosed in filings to...

Cyprus

New pre-trial objections lodged in Focus case

George PsyllidesJanuary 18, 2018January 18, 2018

By George PsyllidesJanuary 18, 2018January 18, 20182 142

Fresh pre-trial objections were raised Thursday in the case relating to the alleged bribery of the former head of the Central Bank to turn the...

Cyprus

Former Laiki CFO says financial results inaccurate

Elias HazouJanuary 9, 2018January 9, 2018

By Elias HazouJanuary 9, 2018January 9, 20182 178

Laiki’s former CFO Annita Philippidou told a court on Tuesday how then-CEO Efthimios Bouloutas thwarted attempts to incorporate into the lender’s financial results a writedown...

Cyprus

Criminal case against Laiki opens

FORMER STAFFNovember 21, 2017November 21, 2017

By FORMER STAFFNovember 21, 2017November 21, 20173 104

Police sergeant Chrysostomos Christou, a member of the three-person team investigating a case of market manipulation involving four former Laiki Bank top officials, was the...

Cyprus Featured

‘Funds falling from the sky’ for everyone except us, bondholders, depositors say

Stelios OrphanidesOctober 31, 2017October 31, 2017

By Stelios OrphanidesOctober 31, 2017October 31, 2017094

Disy’s decision to submit together with the Citizen’s Alliance a legislative proposal to set up a compensation fund for victims of the 2013 banking and...