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Committee for Resolution of Restructuring Disputes / Regulations of Loans
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Introduction

In line with the provisions of the Central Bank of Cyprus circular “Management of Arrears Circular of 2013” and its annexes (“Framework for the Management of Arrears” and “Code of Conduct for dealing with borrowers who face financial difficulties”), the Co-operative Central Bank Ltd has set up a Committee for the Resolution of Restructuring Disputes / Regulation of Loans (E.EPI.DI).

 

Committee for the Resolution of Restructuring Disputes / Regulation of Loans (E.EPI.DI)

The exclusive duty of the Appeals Committee is the effective, timely and impartial handling of all the appeals from complainant borrowers of the Co-operative Central Bank Ltd (CCB) and the Co-operative Credit Institutions (CCIs) as regards restructuring and regulation of loans.

 

Process for Resolution of Restructuring Disputes / Regulation of loans

The appeal of the complainant borrower must be submitted in writing within one (1) month of receipt of the “Letter of Offer” or “Letter of a Negative Decision” from the CCB or the CCI, through a standard “Restructuring Appeal Form”. The form in question is also available from the CCI branch network and the CCB.

The Appeals Committee (E.EPI.DI.) will accept written appeals/claims/complaints from the complainant borrowers of the CCB and the CCIs in relation to restructuring/regulation of loans:

     - Through the branch network of the CCB and Co-operative Credit Sector

     - By post at the following address

Committee for Resolution of Restructuring Disputes/ Regulations of Loans

Co-operative Central Bank Ltd

Gregori Afxentiou 8

1096 Nicosia

- By email to the address: AppealsCommittee@ccb.coop.com.cy

 

Any appeals that are submitted orally, late or are outside the authority of the Appeals Committee (E.EPI.DI) will not be considered acceptable and will not be examined.

The Appeals Committee (E.EPI.DI) can require the complainant borrower to submit any additional documents/evidence it considers necessary to examine his/her appeal.

The Appeals Committee (E.EPI.DI) will inform the complainant borrower of receipt of the “Restructuring Appeal Form”, within fifteen (15) working days from its receipt.

The official decision of the Appeals Committee (E.EPI.DI) will be made known to the complainant borrower within three (3) months from the receipt of the “Restructuring Appeal Form”.

The Appeals Committee (E.EPI.DI) will ensure protection of the personal data of the complainant borrowers who submit an appeal/complaint/claim.

For any information or clarification as well as for information on how their appeal/complaint/claim is progressing, borrowers may contact the secretary of the Appeal Committee Mario Karakokkinos on 22743502.