Cyprus known as Laiki Bank), into a "bad" bank which would be wound down over time and a "good" bank which would be absorbed by the Bank of Cyprus. In return for a €10 billion bailout from the European Commission, the European Central Bank and the International Monetary Fund, often referred to as the "troika", the Cypriot government was required to impose a significant haircut on uninsured deposits, a large proportion of which were held by wealthy Russians who used Cyprus as a tax haven. Insured deposits of €100,000 or less were not affected. According to the 2017 International Monetary Fund
Asset recovery assets is the process of either selling, scrapping, recycling, donating, or disposing an asset. The process involves removing the asset from an organization's books. When this is done effectively, the organization obtains capital that can be placed back into the business. In addition, a good asset sale produces revenue and boosts profits. Donations also build goodwill and deliver tax benefits. The type of disposition method employed will depend on the type of asset, its fair value, and market demand. Asset recovery Asset recovery, also known as investment or resource recovery, is the process of maximizing the value of unused or