Place de l’Étoile, in downtown Beirut, where Parliament and the Grand Serail are located. (Credit: Philippe Hage Boutros/L'Orient-Le Jour)
BEIRUT — The Constitutional Council (CC) issued on Oct. 3 a decision partially annulling several provisions of Lebanon’s bank restructuring law, following an appeal filed in September by 10 Members of Parliament (MPs) from the Free Patriotic Movement (FPM).The CC is the body responsible for determining whether laws passed by Parliament or decisions issued by the Cabinet comply with the constitution.After reviewing the appeal, the CC struck down several provisions of the law, while upholding others. In some cases, it also went beyond the points raised by the appeal. Read more In response to IMF criticism, BDL and banks prepare a new round of defenses L’Orient Today breaks down the changes introduced by the CC and what they mean for depositors and for the broader restructuring process.The right to private property subordinate to...
BEIRUT — The Constitutional Council (CC) issued on Oct. 3 a decision partially annulling several provisions of Lebanon’s bank restructuring law, following an appeal filed in September by 10 Members of Parliament (MPs) from the Free Patriotic Movement (FPM).The CC is the body responsible for determining whether laws passed by Parliament or decisions issued by the Cabinet comply with the constitution.After reviewing the appeal, the CC struck down several provisions of the law, while upholding others. In some cases, it also went beyond the points raised by the appeal. Read more In response to IMF criticism, BDL and banks prepare a new round of defenses L’Orient Today breaks down the changes introduced by the CC and what they mean for depositors and for the broader restructuring process.The right to private property subordinate...
