Russian Account Holders to Sue Cyprus

Some Russian bank account holders intend to sue Cypriot authorities over the bailout decision which will strip people of a substantial part of their savings, Andreas Sofokleous, the founder and managing partner of the Andreas Sofokleous & Co. law firm, told RIA Novosti. "Our defense attorneys are drafting complaints to courts to protect our clients' interests," Mr. Sofokleous said, adding that he is not sure how likely they are to win. "There is a chance, but the Cypriot judicial system is very slow. We will see the outcome in 5-6 years time," he said.

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