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A group of British passport holders filed a joint lawsuit on Thursday to have their bank accounts re-opened after Bank Audi and Blom Bank shut them down.

The suit,Ìýon behalf of 15 individuals by the Lebanese Depositor's Union, was filed after the two banks suddenly closed down a number of bank accounts of Brits. Both banks began closing the accounts of British passport holders after UK courts ruled that Bank Audi had to pay a British citizen $US 4 million for freezing his accounts.

Bank Audi has closed at least 60 bank accounts whose total value totalled $US 100 million, Dina Abou Zour, a lawyer with the Depositor's Union, told °®Âþµº.

The Association of Banks of Lebanon did not respond to a request for comment from °®Âþµº.

The closure of these accounts is a "preventative and vengeful act from the banks,"ÌýAbou Zour said, adding that banks want to quash the possibility of British account holders turning to UK courts to free their money from Lebanese banks.

One participant in the lawsuit told °®Âþµº that they were notified that the bank was closing their account "with immediate effect"Ìývia WhatsApp message.

"I asked why they were closing my account. They said that 'you know what happened in the UK, the bank wants to protect itself,'"Ìýthe participant told °®Âþµº, under the condition of anonymity as other account holders who have spoken to media have faced retribution from their bank.

After the account holders were notified their accounts were being closed, they were issued a check with the value of their deposits. The check is supposed to be cashed by the Central Bank of Lebanon (BDL), but cannot actually be honoured by the BDL due to the financial crisis – making it effectively worthless.

"We've done nothing wrong, why did you close our accounts? We've not sued you. You don't have a right to do that, you owe us money. We put our money in your bank to be safe. They have no conscience,"Ìýthe participant said.

The vast majority of Lebanese depositors have had their money frozen in the banks since the fall of 2019 when Lebanon's financial meltdown began. Banks froze depositors'Ìýaccounts and instituted strict withdrawal limits that persist to this day. For most, this meant close to no access to their savings.

The banks' capital controls were established without consulting the Lebanese parliament. Despite the existence of these informal capital controls, many large account holders and elites were able to transfer their money out of Lebanon.

In order to free their money from the banking system, many Lebanese have turned to the judiciary, filing suits to force the banks to free up their money. In response, in the form of strikes, denial of service and account closures.