“Big depositors- many of them Russian — face losses of up to 40 percent as the result of a so-called ‘bail-in’ to back 10 billion euros in EU financial aid to stabilize the Cypriot banking system.  ‘It’s worth trying, it’s not going to be easy, its not going to be a one-off, 24-hour court case, but the nature of the action itself sounds like expropriation,’ said Andrey Goltsblat, at law firm Goltsblat BLP.  There could be a basis to sue either Cyprus or individual banks, say lawyers who have been contacted by current and prospective clients seeking redress.  ‘People are just frustrated and … are trying to find a way to get their money off Cyprus,’ said Goltsblat.”

http://www.cnbc.com/id/100593713

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