InsiderBusinessCo-op committee of inquiry sworn in

Co-op committee of inquiry sworn in

The three member committee of inquiry appointed to probe the collapse of the co-op was sworn in before the attorney general Costas Clerides on Monday morning who urged them to submit a comprehensive report that will allow measures to be taken to preempt similar developments in the future.

The committee is chaired by former Supreme Court judge Yiorgos Arestis. The other members are the former chairman of the Securities and Exchange Commission Yiorgos Charalambous and the former CEO of Alpha Bank Cyprus,  Yiorgos Georgiou.

After the swearing in ceremony Clerides urged the committee to make a complete, well-founded and objective investigation that will lead to a report with full analysis, explanations and conclusions.

These should not mark the end of a procedure but be the start of another procedure so that where necessary measures will be taken to “prevent phenomena such as those that you are investigating so that we are not witness to the same situation,” he said.

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