Searching Content indexed under Insolvency/Bankruptcy/Re-structuring by Soteris Pittas & Co LLC ordered by Published Date Descending.
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Directors Duties In Insolvency And Its Vicinity- An Alternative Approach For Creditors To Recover
When a company enters insolvency or its ‘'vicinity''[1], the fiduciary duties of directors are no longer owed to the company as a whole, and instead their duties shift towards the creditors.
29 Apr 2019
Clarification On Cross Border Insolvency Which May Be Applied By The Cypriot Courts
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.
2 Aug 2016
Winding Of Companies – Winding Up By The Court (Compulsory Winding Up)-Inability Of The Company To Pay Its Debts
Winding up is the process by which the company's assets are realized, the proceeds are distributed to its creditors and the surplus, if any, to its members.
26 Nov 2015
Appointment Of Receiver In Aid Of Equitable Execution Of Cyprus Judgment
In a recent case handled by our firm, we succeeded acting on behalf of a Claimant to obtain a judgment against a defendant for a debt which was owed to the Claimant...
29 Oct 2015
THE EXAMINERSHIP - Amendments To The Cyprus Legislation
During this certain period the Examiner ascertains whether the company may be rescued and prepare a rescue plan.
7 Oct 2015
A Holder Of An International Arbitral Award, Before Its Registration In Cyprus, Under The New York Convention, Cannot Be Regarded As A "Creditor", Within The Meaning Of Section 212 Of The Cyprus Companies Law CAP 113.
The Supreme Court of Cyprus decided that a holder of an International Arbitral Award not yet registered under the New York Convention cannot be regarded as a "Creditor".
28 Jul 2014
An Applicant Cannot Abuse The Machinery Of The Mareva Injunctions In Order To Trap A Respondent In A Transaction
In a recent decision of a Cyprus Court, it has been held that an applicant cannot abuse the machinery of the mareva injunction in order to trap a respondent, in the completion of a transaction, for the sale of assets by the applicant to the respondent, in exchange of consideration, whose transfer and registration was blocked previously by the Applicants.
5 Oct 2011
Do Russian Courts Have Jurisdiction To Issue Interim Relief In Support Of Cyprus Legal Proceedings?
In a revolutionary judgment issued by the Federal Arbitradz Court of Northwest District of Russian Federation in the case NA 56-9512/2009, FINESTERRE RECOVERY FUND I LTD & OTHERS confirmed that Russian Courts have jurisdiction to issue interim relief.
Russian Federation
5 Oct 2011
Company & Insolvency Law - Shareholders Agreements Or Joint Venture Agreements And The Anti–Deprivation Rule
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".
29 Sep 2011
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