1) Mr. Petros Ioannides, who has been appointed as liquidator (the "Liquidator") of the branch of FBME Bank Ltd in Cyprus (the "Branch") pursuant to the order 123/2019 of the Nicosia District Court dated 29th of June 2023 (the "Court Order"), announced the commencement of the submission of claims for the verification process.
2) Pursuant to the Liquidation Framework Agreement between the Central Bank of Cyprus and the Deposit Insurance Board (the "DIB") of the United Republic of Tanzania on 12th December 2022, the latter being the liquidators of FBME Bank Ltd in Tanzania, all depositors and creditors must submit their claims for verification the latest by 29th of December 2023, subject to any extensions provided by the Nicosia District Court.
3) For identification purposes, all depositors and creditors are requested to complete the Client Identification Form ("CIF") and submit relevant documentation for verification of their claim. Under no circumstances, completion of the CIF shall be considered as a valid and conclusive submission of a claim and all creditors remain obliged under applicable law to deliver at the Branch premises all the documents requested in paragraph 4 below, in their original form.
4) On submitting their claims to the Liquidator, the depositors and creditors need to submit the following:
4.1. A duly signed and completed verification form as determined by the Companies (Liquidation) Regulations.
- Cyprus Citizens and Third Country Nationals must complete the "Debt Verification Form Debt verification for winding up-1"
- European Citizens must complete the "Form for debt verification by foreign creditors"
The Liquidator may accept Third Country Nationals completing the same verification form as European Citizens at his absolute discretion, by taking into account the individual circumstances of each Depositor/Creditor.
- If the verification form is signed within the Republic of Cyprus, it must be signed either before the Court Registrar or a person competent to take oaths.
- If the verification form is signed outside the Republic of Cyprus, it must be signed before a person competent to take oaths and the signature must be legalized with apostille or certified by the Embassy of Cyprus or the competent authority of the particular jurisdiction.
It should be noted that any costs borne by the Liquidator confirming the validity and authenticity of the subject documents, will be charged to the relevant account of the depositor/creditor.
4.2. All claims shall be submitted in Euro as per the applicable legislation and the rates to be used shall be the relevant European Central Bank rates as at the date of liquidation of the Branch being 19th February 2019.
4.3. The verification form shall be accompanied by the supporting documentation evidencing the amount being claimed.
4.4. Depositors and Creditors who wish to be represented by an authorized individuals such as lawyer, must provide a duly signed, notarized and apostilled Power of Attorney.
4.5. Client identification documents (KYC documents) as set and described in detail below:
Required depositors' and creditors' identification documents:
For legal entity, the following supporting documentation must be provided:
- Certified* Certificates of Registration, Directors, Secretary, Shareholders, change of name (if applicable), Registered Office and latest Memorandum and Articles of Association of the company that must be certified with recent date as true copies, by the person who under the applicable law is required to maintain the respective registers. If the provision of the above documents is not applicable under relevant legislation, a declaration and/or statement and/or Incumbency Certificate and/or extract reflecting the most recent composition of the company, provided and/or signed by the relevant authority, that shall include all the above information and/or corresponding information under the applicable law;
- Certificate of Tax Residency and Tax Number;
- An updated business profile of the customer, including a brief historical background of the legal entity's activities, for the last 10 years;
- Group structure, signed by the controlling person of the legal entity;
- Source of funds in the accounts maintained with the Branch;
- Curriculum vitae (CV) and Economic Profile of the ultimate beneficial owner;
- Beneficial Ownership Registry extract, where applicable;
- IBAN certificate in the name of the depositor/creditor where payment shall be processed should the claim is accepted.
5) All the documentation as set in paragraph 4
above, must be delivered in its original form at the premises of
the Branch of FBME BANK Cyprus LTD. Upon receipt, a written
confirmation will be provided by a representative of the
Important Note: No submission shall be deemed valid and conclusive unless all the documentation as described in point 4, in its original form, is submitted to the Branch. The Liquidator reserves the right to request additional information/documentation and the submission date shall be deemed as the day of receipt of all the documents requested by the Liquidator.
6) In order for the Liquidator to be able to
reach a conclusive decision in relation to the subject debt
pursuant to applicable law, the date of receipt of the verification
claims shall be deemed as the day of receipt of all documents
requested by the Liquidator as per paragraph 5 above.
7) Pursuant to applicable law, the Liquidator shall accept or reject a claim, in whole or in part, or request further information/documentation in support of the claim. In the event that the Liquidator rejects a claim, relevant explanations shall be provided.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.