The Resolution Authority announces that it has today appointed Mr Chris Pavlou as Special Administrator of Cyprus Popular Bank (hereafter Laiki Bank), pursuant to the Resolution of Credit and Other Institutions Law, 2013 and 2014. The appointment was made in replacement of the Special Administrator Ms Andri Antoniades who resigned.
In addition, the Resolution Authority announces that it has entered into a preliminary agreement with the Investment Bank of Greece (IBG), a Greek subsidiary of Laiki Bank, for financial consulting services in relation to the evaluation and possible sale of the assets of Laiki Bank, with the aim of maximizing the benefit of creditors.
(Attached is the CV of the new Special Administrator, Mr Chris Pavlou).