The Central Bank of Cyprus (CBC) announces that, with respect to application No. 1024/2014 FBME Bank Ltd v. (1) the CBC, in its capacity as the Resolution Authority, and (2) the Resolution Committee, it has voluntarily accepted before the Court not to proceed, in its capacity as the Resolution Authority, to the signing of a contract and/or the issuing of a new decree for the sale of the operations of the branch of FBME Bank Ltd in Cyprus, until the Court’s ruling on the application by FBME Bank Ltd for a preliminary decree suspending Decree K.D.P.356/2014, dated 21 July 2014.
It is noted that the Resolution Authority will continue to exercise the powers conferred to it by the Resolution of Credit and Other Institutions Law 17(1)/2013, including the negotiation with interested buyers in accordance with the provisions of the aforementioned Law.