Elias Neocleous & Co LLC is proud to have contributed to the Business Reorganisation Assessment project of the European Bank for Reconstruction and Development (EBRD). In particular, our associate Ioannis Sidiropoulos has contributed to the Cyprus national report. The project results consist of a 'Main Report,' which provides a cross-jurisdictional analysis of business reorganisation tools available in each of the 40 jurisdictions across the EBRD regions and data gathered from respondents to the 'Assessment' questionnaire on law and practice. The Assessment identifies issues or weaknesses in existing frameworks but at the same time explores current insolvency trends and best practices. The 40 national economy profiles cover in detail the business reorganisation framework for insolvency of each surveyed jurisdiction, including a visual overview of the main stages of each of the available business reorganisation procedures. The results also include, among others, centralised information about the perception of stakeholders on reorganisation tools and a detailed analysis per jurisdiction of key-components for a successful outcome.
They can be accessed here. The Cyprus report is available here.