New Laiki administrator appointed

By Stelios Orphanides

The Central Bank of Cyprus in its capacity as resolution authority, on Monday appointed Chris Pavlou administrator of the defunct Cyprus Popular Bank, also known as Laiki.

“In addition, the resolution authority announces that it reached a preliminary agreement with the Investment Bank of Greece, a Laiki Bank affiliated unit, to provide financial consultant services on the evaluation and possible sale of Laiki Bank’s assets, aiming at maximising benefits to its creditors,” the CBC said.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.