Last Updated on June 9, 2026
The Liquidator of the Cyprus Branch would like to inform all depositors of the Cyprus Branch that thereview and acceptance process for submitted claims continues to progress steadily. A substantial number of depositors’ claims have already been accepted for payment, and the relevant payment instructions have been transmitted to the designated paying banks for processing. For those depositors that the payment of their accepted claim has been processed by the paying banks, a relevant e-mail is being sent informing the depositor of such payment.
It should be clarified that following the acceptance of the submitted claims by the Liquidator, the payment process is initiated by the liquidation team, with the preparation of the payment instructions to be sent to the paying banks. Upon the expiration of the 21-days grace period granted to depositors for raising any objection or the waiver of such right by the depositors (whichever precedes), the payment instructions are sent to the paying banks for proceeding with the payment of accepted claims. In certain cases, delays may arise prior to the execution of payments, attributable to the compliance, know-your-customer, and other due diligence procedures undertaken independently by the paying banks, which are outside the control of the Liquidator. For such cases, the Liquidator informs the depositors of any additional information and/or documentation requested by the paying banks in the course of their compliance and due diligence review and remains in communication with the paying banks with a view to process completion of payments, as soon as practically possible.