Lebanon's Fransabank said on Thursday its branches would remain open but unable to execute cash transactions including at ATMs while it appeals a judicial order that has frozen its assets and sealed its vaults.
This week's judicial order resulted from a case brought by a man who was seeking to unlock funds trapped in Lebanon's banking system since 2019.
The order required Fransabank to reopen the man's account and pay out his deposit in cash, or else its assets would be seized, his lawyer Rami Ollaik said. A judicial source said the decision to freeze banks' assets and main safes did not prevent them from paying out money.
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