Mr. Petros Ioannides, who has been appointed as liquidator (the "Liquidator") of the branch of FBME Bank Ltd in Cyprus (the "Branch") pursuant to the order 123/2019 of the Nicosia District Court dated 29th of June 2023 (the "Court Order"), has announced a second extension for the submission of verification of debt claims for the return of blocked deposits by Depositors and Creditors of the Branch, following issuance of a relevant court order by the Nicosia District Court on 27th June 2024.
The new deadline for the submission of the Debt Verification Forms and all the documents required for the claim is: 30th of September 2024.
As per our previous newsletter, pursuant to applicable law, the Liquidator shall accept or reject a claim, in whole or in part, or request further information/documentation in support of the claim. If the Liquidator rejects a claim, relevant explanations shall be provided, and it should be also noted that any costs borne by the Liquidator confirming the validity and authenticity of the subject documents, will be charged to the relevant account of the depositor/creditor.
Further to the above announcement, our Firm is available to provide the necessary legal assistance to the depositors, to prepare and submit the relevant application/claim and documentation, and further follow up all necessary procedures with the liquidator, for the recovery of the depositors' blocked funds.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.