CYPRUS REVOKES OFFSHORE COMPANY LICENCE
The Supreme Court of Cyprus has rejected
a plea by an offshore securities trading company against a
Central Bank decision to revoke its licence.
    Central Bank officer Eleftherios Ioannou told Reuters that
the court had dismissed the appeal by York International
(Cyprus) Ltd, registered as an offshore company last October.
    The Bank in February withdrew York's licence and froze its
bank account while it investigated sales of some eight mln dlrs
worth of securites by telephone to 3,000 small investors
abroad.
 Reuter
