LIMASSOL, Cyprus, Jan. 13, 2017 /PRNewswire/ -- The team at Legal Floris LLC is helping FBME Bank customers recover their funds.
FBME Bank (the Federal Bank of the Middle East) recently lost its license for banking after a long and winding journey of problems. Legal Floris has carefully watched FBME Bank's progress and has scrutinized the bank's current status. The legal firm is working with FBME Bank customers who want to recover their funds safely and efficiently. Legal Floris works with more than 1,000 FBME Bank claimants.
While FBME Bank customers can appeal the Central Bank to make DGS claims, many claims are still pending. 1,000+ of 6,500 FBME Bank customers have filed claims to recover their funds, but the process can be a slow one for several applications. The reason is that the Committee of the Deposit Guarantee and Resolution of Credit and Other Institutions Scheme hand-picks a number of claims they pursue.
Legal Floris works with claimants to get their cases resolved. According to the Legal Floris team, they have analyzed EU directives on bank failures, jurisprudence, EU law, and the Deposit Guarantee and Resolution of Credit and Other Institutions Scheme Law of 2016. Then, they discussed their findings with stakeholders and other knowledgeable sources to find a solution for FBME Bank customers with pending claims.
"The Central Bank can't just honor all claims to the DGS without further investigation," said Floris Alexander, spokesman of Legal Floris LLC. Some of the deposits at FBME Bank are exempt from DGS compensation, and the Unit for Combating Money Laundering has an interest in some accounts.
According to Alexander, "A claim to the DGS does not necessarily result in an immediate and irrevocable payment of the insured funds."
Legal Floris LLC works with claimants to get their funds released to them efficiently by carefully combing through each case to find the reasons why the committee might go ahead with approving them. Legal Floris LLC creates a legal opinion on the claim and presents evidence backing clients' statements while answering all potential questions. This summary and evidence can be used to encourage the committee to quickly come to a positive decision for the client.
Legal Floris can also assist with rejected DGS claims for FBME Bank customers.
For accounts in Cyprus, the team at Legal Floris doesn't accept payments from clients until after their case is settled, after their insured deposits have been received. This strategy includes customers with pending or rejected DGS claims and is valid until the courts order their verdicts.
FBME Bank customers who are trying to secure their funds from the bank can contact Legal Floris for immediate assistance with their DGS claims. "I'm thrilled to have found a way to circumvent the sometimes-lengthy wait of the claims process and help people who want to get compensated," said Alexander.
More information can be found at http://www.legalfloris.com/solutions-for-pending-or-rejected-dgs-claims/.
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SOURCE Legal Floris LLC