Appeal Court dismisses depositors’ case against CIFL

Wednesday, 25 June 2014 01:00 - - {{hitsCtrl.values.hits}}

The Court of Appeal has dismissed the writ application submitted by the depositors of Central Investments and Finance Plc (CIFL) last week. The writ application was for a stay order against two conditions of the company restructuring proposal. Following the dismissal, the stay order imposed on the implementation of the restructuring plan submitted by the Managing Agents with the approval of the Board of Directors and approved by Monetary Board in August 2013 was removed effective immediately.

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