Greek investment group Marfin (MIG) is to turn to international - TopicsExpress

Greek investment group Marfin (MIG) is to turn to international arbitrators in an attempt to recover €824 million from Cyprus over the winding down of Laiki Bank. MIG lost its stake in the bank after it was shut down under the terms of a €10 billion bailout deal for Cyprus, which was agreed with international lenders in March. The Greek group’s investment in Laiki had already been diluted when the bank was nationalised in mid-2012 after its capital base was hit by a write-down in Greek government debt, to which it was heavily exposed. cyprus-mail/2013/09/03/greeces-mig-launches-e824-mln-action-over-lost-laiki-stake/

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