Appeal Against Laiki Bank Lawsuit Dismissed
December 17, 2025
The appeal by former executives of Laiki Bank, Efthymios Bouloutas and Kyriakos Magyres, was dismissed by the Cypriot Court of Appeals. The appellants attempted to prevent the hearing of a lawsuit filed against them by the former bank, claiming there was no jurisdiction in the Cypriot court. The Court of Appeals found their attempts to be abusive, as they had already failed in a previous legal process. The lawsuit by Laiki Bank seeks billions in damages for alleged losses due to the actions of the defendants. The Appeals Court decisions are based on European regulations regarding international jurisdiction.