Mondaq All Regions - Cyprus: Insolvency/Bankruptcy/Re-structuring
Andreas M. Mylonas & Co LLC
The global economic crisis could not but have extended to Cyprus, too, and financial transactions taking place in Cyprus. Liquidity being a severe problem, it is nowadays paramount for businesses...
P. N. Kourtellos & Associates LLC
The financial crisis in Cyprus resulted among others in the introduction of the Insolvency Framework, comprising of a package of six bills of legislation that came into force on the 07/05/2015.
Michael Kyprianou & Co LLC
The purpose of this legislation is the sale of the mortgaged asset without the intervention of any governmental department and the new procedure is conducted exclusively by the mortgagee.
Michael Kyprianou & Co LLC
The economic downturn in recent years has resulted in the increase of natural persons declaring their businesses insolvent. Legislation that governs insolvency is based on Chapter 5 of the Insolvency Law...
Soteris Pittas & Co LLC
On the 24rth of October 2012 the Supreme Court of the United Kingdom handed a decision on the enforceability of foreign judgments reversing the controversial decision of the Court of Appeal in Rubin v Eurofinance [2010] EWCA Civ 895.
Haviaras & Philippou L.L.C
The reform of the insolvency statutory framework to which Cyprus consented to in 2015, was one of the terms of the Memorandum of Understanding between the government of Cyprus, the International Monetary Fund (IMF), ...
Soteris Pittas & Co LLC
During this certain period the Examiner ascertains whether the company may be rescued and prepare a rescue plan.
Elias Neocleous & Co LLC
The Companies Law of Cyprus CAP113 ("Companies Law") is based on the UK Companies Act of 1948 with the necessary amendments to incorporate the relevant EU Directives.
P. N. Kourtellos & Associates LLC
A foreign judgment or an arbitral award has no immediate effect in Cyprus. A procedure must be followed in order to enforce the foreign judgment.
P. N. Kourtellos & Associates LLC
Employing some 2,000 drivers and packers on the supply end and 1,250 for the company, the supermarket chain was deemed the largest one in Cyprus, once considered too big to fail. Orphanides Public Company Ltd has now been declared insolvent.
Elias Neocleous & Co LLC
In the Memorandum of Understanding it agreed with its international creditors in Spring 2013 the Cyprus government undertook to put in place an effective system for the enforcement of security over mortgaged land.
Elias Neocleous & Co LLC
Personal insolvency is governed by the Bankruptcy Law and the Bankruptcy Rules.
Elias Neocleous & Co LLC
When may a company seek relief from creditors? Must a company be insolvent?
Soteris Pittas & Co LLC
The deprivation principle, as derived from the authorities is that "there cannot be a valid contract that a man's property shall remain his until his bankruptcy, and on the happening of that event, go over to someone else and be taken away from his creditors".
Elias Neocleous & Co LLC
What are the most common forms of security taken in relation to immovable and movable property? Are any specific formalities required for the creation of security by companies?
Elias Neocleous & Co LLC
Frequently asked questions on restructuring and insolvency in Cyprus.
Elias Neocleous & Co LLC
Personal bankruptcy is governed by the Bankruptcy Law, Cap 5, and the Bankruptcy Rules, Cap 6. Corporate insolvencies and reorganisations are governed by the Companies Law, Cap 113.
Elias Neocleous & Co LLC
What are the most common forms of security taken in relation to immovable and movable property? Are any specific formalities required for the creation of security by companies?
Elias Neocleous & Co LLC
Frequently asked questions on insolvency in Cyprus.
Freemont Group
Over the past month the Greek debt crisis has been putting quite some pressure on the rate of the Euro.
Most Popular Recent Articles
Haviaras & Philippou L.L.C
The reform of the insolvency statutory framework to which Cyprus consented to in 2015, was one of the terms of the Memorandum of Understanding between the government of Cyprus, the International Monetary Fund (IMF), ...
Andreas M. Mylonas & Co LLC
The global economic crisis could not but have extended to Cyprus, too, and financial transactions taking place in Cyprus. Liquidity being a severe problem, it is nowadays paramount for businesses...
Michael Kyprianou & Co LLC
The economic downturn in recent years has resulted in the increase of natural persons declaring their businesses insolvent. Legislation that governs insolvency is based on Chapter 5 of the Insolvency Law...
Soteris Pittas & Co LLC
On the 24rth of October 2012 the Supreme Court of the United Kingdom handed a decision on the enforceability of foreign judgments reversing the controversial decision of the Court of Appeal in Rubin v Eurofinance [2010] EWCA Civ 895.
Michael Kyprianou & Co LLC
The purpose of this legislation is the sale of the mortgaged asset without the intervention of any governmental department and the new procedure is conducted exclusively by the mortgagee.
P. N. Kourtellos & Associates LLC
The financial crisis in Cyprus resulted among others in the introduction of the Insolvency Framework, comprising of a package of six bills of legislation that came into force on the 07/05/2015.
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