Searching Content indexed under Corporate and Company Law by Soteris Pittas & Co LLC ordered by Published Date Descending.
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The Amendments To CAP 113. Update. PART 2. Strike-Off
Amendments relating to the strike-off of a company Members and Creditors protection. Any member or creditor of a company may object to the striking-off of a company within the period of 3 months
5 Jun 2019
The Amendments To CAP 113. Update. PART 1
The Council of Ministers abolished the obligation to pay capital duty of 0.6% on the authorized share capital or any increase thereof.
28 May 2019
Company Law – Power Of Court To Rectify The Register Of Members Of A Cyprus Company
It has been held by Cypriot courts (adopting English case law) that the power of court to order the rectification of a register of members of a company, under section 111 of Cyprus Companies Laws CAP 113.
2 May 2019
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
Announcement By The Department Of Registrar Of Companies And Official Receiver In Relation To The Annual Company Fee
On the 16th of August 2016, the Department of Registrar of Companies and Official Receiver announced that pursuant to the Law 89 (I) of 2015 which amends the Companies Law Cap. 113, companies that do not pay the annual fee...
2 Sep 2016
Cyprus: Law Applicable To Contractual Obligations – Rome I Regulation
Since 17 December 2009, the EU Regulation (EC) No 893/2009 on the Law Applicable to Contractual Obligations ("Rome I Regulation") is directly applicable in the Republic of Cyprus...
24 Feb 2016
Guidance Of Cyprus Courts On Issue Of Appointment Of Lawyers By The Directors Of A Company
Recently, the District Court of Paphos granted a decision in relation to the appointment of a Lawyer to act on behalf of a Company in judicial proceedings as follows...
18 Jan 2016
Guidance By The Supreme Court Of Cyprus On "Mens Rea" For Bounced Cheques
In October 2015 the Supreme Court made a remarking judgment which overturned the decision of the First-instance Court in relation to the innocence of two Defendants who had issued bounced cheques...
18 Dec 2015
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
The Law Amending The Companies Law CAP 113 N.4 [89(I) /2015] And Collectively (The ‘Law') Came Into Force On 19 June 2015 And Brought With It Several Changes To The Current Legal Regime
There is no need any more to list exhaustively the objects in the Memorandum of Association of a company and instead a company can be incorporated as a commercial company of general objects.
20 Jul 2015
Commercial Fraud
Commercial fraud is not a cause of action in itself.
17 Mar 2014
Do You Have A "Change Of Control" In Your Shareholders Agreement?
In a recent English case, the Court decided that restrictions on shareholders' right to deal with a share shall be clearly stated in pre-emption articles.
12 Mar 2014
Do Cyprus Courts Have Jurisdiction To Issue The So Called "Free Standing Injunctions" In Aid Of Foreign Court Proceedings Pending Outside EU?
Cyprus Courts have jurisdiction to issue free standing injunctions in aid and in support of Court proceedings, pending before Courts of Member States of EU.
12 Mar 2014
Lifting The Corporate Veil
It is a fundamental principle of Cyprus Company Law that a limited liability Company has a legal personality and identity which, is separate from its shareholders, or directors, and that it is a separate legal entity, having separate rights and liabilities.
31 Oct 2013
Enforcement Of Russia Judgments In Cyprus
In all cases, where Russian Banks have claims against Russian citizens, pursuant to loan agreements, or guarantees, the Russian Banks shall arrange, before the filing of any civil action in Russia, against the said individuals to assign in writing such claims to Cypriot companies (SPV’s) in order to meet the requirements of the provisions of the Bilateral Treaty, between Cyprus and Russia, regulating the direct recognition and enforcement of Russian judgments in Cyprus.
25 Oct 2013
Legal Principles Applicable In Ascertaining, Whether A Contract Is A Sham
The sham doctrine has been inter alia applied by courts to lift the corporate veil of a limited liability company, to declare agreements as void ab initio, to determine whether a trust is a sham etc.
7 Mar 2013
Can The Veil Of A Trust Being Pierced?
A discussion on whether the corporate veil of a trust can be pierced.
7 Mar 2013
Enforcement Of Foreign Judgments
Cyprus does not have a formal policy towards the recognition and enforcement of foreign judgments.
3 Jul 2012
Interim Relief In The Context Of Shareholders Disputes
Cyprus Courts, have jurisdiction to issue any interim order, in all cases, in which it appears to the Court, just and convenient to do so, provided that the following conditions are satisfied by the applicant/plaintiff:
5 Oct 2011
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
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