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« Our New Venture 'Stock Trader' Update 02 April 2013 | Main | The Chess Game of Capital Controls »
Sunday
Mar312013

Church of Cyprus wins bailout lawsuit

Archbishop Chrysostomas II

The ink was barely dry on the bailout of the Cypriot banking system last week when the legal challenges began rushing in, with local lawyers backed by influential business figures already winning some small victories.

The first serious challenge was launched by the Church of Cyprus, which has big business interests on the island, questioning the legality of shareholders in the Bank of Cyprus having their equity stakes taken as part of the bailout mechanism.

To read this article in full please go to the FT via this link.


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