Laiki depositors organisation sy ka la
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Laiki Depositors organisation General assembly 27/04/2013 Subjects. Purpose , organisation, participation Contact with politicians Legal procedures Financial suggestions Confirmation of procedures and Committee Future actions. Aims.

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Laiki Depositors organisation

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Laiki Depositors organisation

General assembly



  • Purpose, organisation, participation

  • Contact with politicians

  • Legal procedures

  • Financial suggestions

  • Confirmation of procedures and Committee

  • Future actions


  • Reacquisition of property/Deposits

  • Creation of financial proposal and negotiation for counterbalancing measures .

Advantages of the organisation

  • More people together, more power

  • Economies of scale (less cost for each depositor)

  • Securing a better and more productive legal representation both inside and outside Cyprus

  • Securing the best advisors (economic studies, involvement with the investigation committee, liquidator….)

Registration of the organisation

  • Registration of the Organisation as a company of limited liability

  • Transformation to a non-profit organisation



  • Structure of the organisation

  • Political committee

  • Legal committee

  • Leadership committee

  • Committee f Financial Suggestions

  • Committee for communicating with al members and General assemblies

  • Committee of accumulating information and proofs

  • Committee for educating the public

  • Secretary

  • Financial Committee

The board

  • MyriaMErkouri

  • TheodorosKyprianides

  • AndonisNeophytou

  • AndonisVasiliou

  • VanavasVarnava

  • AlexndrosMichaelides

  • Andreas Girkallis

  • NeophytosTaliotis

  • Zaharias Palexas

  • Adonis Papaconstantinou


  • Creation of an organisation

  • Data base of 1500 members (in 6 countries)

  • Setting of an internet site and appearance in social networks

  • Appearance in all TV and radio channels and any written network

  • Discussions in two foreign financial magazines

  • Meetings with all members of the parliament

  • Organised meetings with the ministry of Finance, the President of the republic and the president of Central Bank

  • Co operation with the best legal minds of the country

  • Contact with scientists in the said fields


  • In less than 3 weeks a very efficient machine has been set

  • Everything was done entirely with humbleness and family support


Specialists that support the Committee


  • Markides , Markides and Co

  • Aggelides , Ioannides, Leonidou LLC

  • Scordis, Papapetrou and Co LLC

  • Velaris and Velaris LLC

  • Co ordinations with other legal offices for following common legal strategy

Financial Advisors

  • Zaharias Palexas – Finance

  • Michael Ioannides – Banking

  • Accounting Offices

    Special Advisor

    Andreas Eleftheriades


  • Additional Volunteers

  • Special help in committees to fulfill specific work

Strategic Pillars

  • Legal Pillar

  • Political Pillar

  • Educating People

  • Financial proposal\ alternative measures

  • Investigation of Funds interest in buying deposits

  • Counterbalancing measures

Legal procedure

  • Exhaustion of all legal measures within the country

  • Personal and company appeal To the Republic, law suits and submission procedures

  • Collective appeal to the European Courts

  • Possible sources of compensation

Involvement of political parties and meetings with them

All political parties

  • Ministry of Finance

  • Commander of Central Ban

  • President of the Republic

  • Politically colorless organization

Involvement of political parties and meetings with them

  • All political parties demonstrated political intention to support

  • Good intention to listen and support the proposals of SYKALA

  • Recognition of the extreme injustice against Laiki’s Depositors

  • Good intentions to withdraw the unjust victimization

Political involvement4 directions and 4 Gears

  • Foreign depositors

  • Cyprus Depositors ( apart of Laiki s and Cyprus Bank)

  • Cyprus Bank Depositors

  • Laiki Depositors ( Domino effect)


Future actions

  • Legal procedures

  • Well researched financial proposal wit the support of the members of the parliament and the political parties

  • Involvement and validation from the Cyprus Republic of the organization’s financial proposals

  • Possible discussion/negotiation with Troika

Legal Procedure

  • Explanations from the legal advisors, completion of details/telephone support

  • Investigation Committee ( presentation of SYKALA- through legal advisors)

  • The procedure to be followed will depend partly from High court decisions



  • Yearly fee of €50

  • Strategy validation and committee’s actions

  • Validation of temporary administration committee and change to administration committee

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