Cynergy Bank Settles £1.5M Property Repossession Suit

Law360, London (June 25, 2019, 2:08 PM BST) -- The former British branch of Bank of Cyprus has reached a settlement with a pair of retail developers alleging that it sold several repossessed flats in London for below market value, months after an earlier attempt at resolving the case out of court failed.

An order issued by Master Karen Shuman at the High Court dated June 20 notes that both sides of the dispute agreed to the terms of a confidential settlement and that further proceedings on the litigation are on hold while the terms of the deal are completed. Details about the deal were not available.

Master Shuman made no...

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