Aspis boss sues Cyprus Insurance Superintendent for CYP1 mln

The Chief Executive Officer of Aspis Holdings Plc, Lambros Christofi, filed a legal action (no. 738/200) to the Nicosia District Court against the Insurance Superintendent, Victoria Natar, demanding compensation of more than CYP1,000,000 or EUR 1.7 mln for libel and injurious falsehood by Mrs. Victoria Natar to several persons via a letter dated 26/4/07. The letter contains false and libelous references against Christofi as a professional and as a person.
The Company also requested by the Nicosia District Court to issue a decree in order to forbid to Mrs. Natar to continue the libelous references to Lambros Christofi.
Aspis Holdings Plc reserves all legal its rights.

The motion comes days before the Finance Minister needs to decide on a recourse filed by Aspis against an earlier decision of Natar blocking the transfer of a 35% that Apsis purchased in Universal Life Insurance from Marfin Popular Bank.

According to MPB CEO Andreas Vgenopoulos, the Bank will not refund the money that it received from Aspis in the event that the latter fails to secure regulatory approval for the transfer.