According to the Association of Banks in Lebanon’s (ABL) circular no. 028/2025, the ABL’s Board of Directors held a meeting last week to discuss the issue of Lebanese Eurobonds, especially in light of the Council of Ministers’ latest decision to approve the suspension of Eurobond prescription periods for 3 years. Accordingly, the ABL decided that banks holding Lebanese Eurobonds must initiate legal proceedings against the Lebanese government as soon as possible in order to preserve their rights and the rights of the holders of these securities, bearing in mind that the original legal deadline for the prescription periods was March 9, 2025. This procedure, as per ABL, serves as a precaution against any potential misinterpretation of the aforementioned governmental decision that may not come in the best interests of the holders of the Eurobond securities. The ABL also resolved to officially notify the Minister of Finance regarding this action.