The Association of Banks in Lebanon announced on Saturday its rejection of the “recovery plan presented by the Lebanese government, which aims to burden banks and depositors with the nearly full part of the losses that resulted from the policies adopted by the state with its successive governments and the Banque du Liban.”
The association described the plan as “disastrous and in violation of the Lebanese constitution and all other legal rules in force.”
In a statement, it pointed out that it had asked its legal advisors to study and present a variety of judicial procedures to protect and collect the rights of banks and depositors so that it could proceed with whatever it deemed appropriate in this regard.
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Lebanon is determined to uncover the circumstances that led to the killing of an Irish UN peacekeeper, caretaker prime minister Najib Mikati said during a visit to the headquarters of the UN Interim Force in Lebanon (Unifil) on Friday. Private Sean Rooney, 23, was...
US appeals court says lawsuit against Lebanese bank can proceed
A US court of appeals has ruled that cases against Lebanese commercial banks can be tried outside Lebanon, paving the way for more cases by depositors seeking to unlock their frozen funds. The court decision, issued on Thursday in a case brought by Lebanese depositors...
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