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Landmark Cyprus Court Of Appeal Judgment: When Provident Fund Administrators Are Personally Liable For Investment Policy And The Management Of Members’ Money
The case concerned the provident fund for employees of Cyprus Popular Bank Public Co Ltd and its subsidiaries. Harutune L. Arakelian retired on 31 December 2008 after 42 years of service and claimed compensation for losses arising from the Fund’s management. Following his death, Andriani Arakelian continued the proceedings as administratrix of his estate.
Phoebus, Christos Clerides & Associates LLC (Clerides Legal)
