By its decision which took place in May 2016, the High Administrative Court of the Republic of Cyprus has rejected the unilateral application, made by the FBME Bank Ltd (FBME) on the 22nd of December, 2015 in connection with the issuance of a decree, which would temporarily suspend the enforceability of a decision taken by the Central Bank of Cyprus on the 21st of December, 2015.

The High Administrative Court’s decision is based on the withdrawal of a license authorization previously granted to FBME for its branch operation in Cyprus.

Following the above decision, the number of depositors claiming to receive the guaranteed deposit of up to € 100.000, as well as οf those, taking part in the liquidation procedure of FBME has recently increased a lot.