Cyprus Popular Bank (Laiki Bank) and Bank of Cyprus Investor Losses Lawsuit

Our law firm is investigating claims on behalf of non-Cypriot depositors in the Cyprus Popular Bank (commonly known as Laiki Bank) or the Bank of Cyprus.

If you a non-Cypriot and have deposited $100,000 or more in the Cyprus Popular Bank (Laiki Bank) or the Bank of Cyprus, call 1-800-934-2921 right now to protect your rights.

With the European Union and International Monetary Fund providing bailouts to several European countries, you may be affected by the recent bailout of Cyprus. The agreement, which is highly controversial, gives nearly 13 billion USD to the nation of Cyprus. Unfortunately, the government of Cyprus continues to experience significant losses. 

This new agreement also forces Cyprus to close Cyprus Popular Bank and to levy all its uninsured deposits. As the second largest bank in Cyprus, this will affect many people living in and out of Cyprus.

The timeline of the problems in the Cypriot government arguably began in 2011 when the largest power plant on the island exploded, cutting power to large portions of the population. Cyprus also lost money when the European Union eliminated much of Greek’s debt. Russia provided Cyprus with a significant loan, but it did not stop growing problems with the country’s banks. This escalated until June of 2012, when Cyprus asked for a bailout. The deal was made in March of 2013.

Discrimination to foreign investors in Cyprus

As a result of Bilateral Investment Treaties with various countries, foreign investors may sue Cyprus for discrimination against foreign investors, as the bailout deal gives preference to the investments of residents of Cyprus at the expense of foreign investors. The list of countries includes Armenia, Belarus, Belgium and Luxembourg, Bulgaria, China, Czech Republic, Egypt, Greece, Hungary, India, Jordan, Lebanon, Malta, Moldova, Poland, Romania, Russia, San Marino, Serbia, Seychelles, and Syria.

The financial consequences to bondholders in Cyprus banks may be devastating. This is the first time bondholders will be influenced by a bailout from the European Union. You should contact one of our attorneys if you have deposited money in the Bank of Cyprus or the Cyprus Popular Bank. This is especially true if you deposited an amount higher than 100,000 pounds or held bonds. Foreign investors may claim discrimination, as new policies highly favor Cypriot investors. 

Cyprus Bank Losses? Contact us now to protect your rights.

If you a non-Cypriot and have deposited $100,000 or more in the Cyprus Popular Bank (Laiki Bank) or the Bank of Cyprus, contact us now to protect your investment. Complete the form on this page or call 1-800-934-2921 for a free no obligation consultation with a lawyer. We work on a contingency basis, so rest assured that there will never be an out of pocket expense to you.