Press releases and law firm thought leadership
This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.
If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or firstname.lastname@example.org
Search News and Articles
Legal Developments Worldwide
- United Arab Emirates
- Bosnia and Herzegovina
- Czech Republic
- Hong Kong
- Cayman Islands
- New Zealand
- South Africa
- South Korea
- Saudi Arabia
- British Virgin Islands
Articles contributed by Patrikios Pavlou & Associates LLC
The only requirement under the main laws applicable to arbitration (see below) is that the arbitration agreement has to be a written agreement to submit present or future disputes to arbitration and, under common law principles, this agreement has to be clear and certain. Read more...
Corporate governance is relevant to both private and public companies. Nevertheless, this
chapter will focus on corporate governance rules, applicable to public limited companies
listed on the Cyprus Stock Exchange (CSE).
Cyprus became an independent and sovereign republic on 16 August 1960. Before that it was a British colony and many features of the British legal system have remained embedded in the judicial system of Cyprus. Read more...
The Bankruptcy Law and the Bankruptcy Rules, as amended, relate to personal insolvency.
With the emergence of Cyprus as a thriving international business centre and as the preferred place of establishment of many companies of foreign interests, Cyprus has seen a large increase in the use of arbitration as a commercial dispute resolution mechanism.
Corporate governance is relevant to both private and public companies. Nevertheless, this chapter will focus on corporate governance rules, applicable to public limited companies listed on the Cyprus Stock Exchange (“CSE”).
Cyprus has traditionally been a significant destination for the setting up of international business companies (IBCs) (that is to say companies with foreign interests). Read more...
Cyprus became an independent and sovereign republic on 16 August 1960. Before that it was a British colony and many features of the British have remained embedded in the judicial system and in other facets of the function of the Cyprus State.
In the light of global developments and ever changing fiscal and monetary policies that impact investments and assets worldwide, there has been an increased interest by investors in relocating their assets and families to a jurisdiction that offers stability and security.
First uploaded on the International Bar Association's Anti-Money Laundering website.
Corporate governance concerns all types of companies, both private and public. However, this chapter will focus on corporate governance rules, applicable to public limited companies listed on the Cyprus Stock Exchange ("CSE").
The Labour Law in Cyprus consists of both statute law and case law. In order to determine the exact nature of the relationship between employers and employees and the rights and obligations of each side, one needs to examine the relevant statutes, legal precedents created by case law and contractual obligations agreed expressly or impliedly between the parties
A practical cross-border insight into corporate governance. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Corporate Governance; published by Global Legal Group Ltd, London.
Reminding our clients, associates and friends of the favourable investment and tax environment of Cyprus
Money laundering is an international problem and requires the active assistance of a number of professionals and institutions to address it and suppress it.
The concept of the trust as we know it in our days dates back to the Crusaders in the 12th Century and is based on the Anglo-Saxon legal system. It was devised to allow continuity of family property and succession in troubled times when the "master of the house" was off to war.
As a principle, corporate governance is relevant to all types of companies, both private and public. The present chapter shall focus on corporate governance rules, applicable to public limited companies listed on the Cyprus Stock Exchange (“CSE”).
Cyprus is situated at the crossroads of three continents; Europe, Asia and Africa. This strategic geographic location, together with its excellent infrastructure, the strong probusiness attitude of the Cyprus people, the highly skilled human resources and the comprehensive double tax treaty network, have established Cyprus as a reputable International Financial Centre and an excellent place to establish tax efficient set ups.
The Central Bank of Cyprus is the banking regulator and supervisor of banks incorporated in the Republic of Cyprus. The authority of the Central Bank of Cyprus stems from the Banking Law 66 (I) 1997 as amended , (hereafter to be referred to as the ‘Banking Law’) which empowers it to supervise banks and to issue directives and practices to regulate their conduct; it also establishes the legal framework within which banking business can be pursued.
Published by Global Legal Group
1 Recent Developments in European Product Liability – Ian Dodds-Smith & Alison Brown,
Arnold & Porter (UK) LLP __
2 The EU General Products Safety Regime – John Meltzer & Rod Freeman, Hogan Lovells International LLP...
MiFID – General Overview : The Markets in Financial Instruments Directive (MiFID) 2004/39/EC forms part of the E. U. Financial Services Action Plan (FSAP), which was developed in furtherance of the E. U. single market vision and the abolition of market barriers.
I have set out the matters below in order to update you on the relevant tax matters following the signing of the long awaited Protocol in relation to the Double Tax Treaty between Cyprus and Russia to the effect that the same may be of interest to the activities of a company.
What are the relevant statutes and regulations governing securities offerings? Which regulatory authority is primarily responsible for the administration of those rules?
Statutes and regulations governing securities offerings The main statutes governing securities offerings are: the Public Offer and Prospectus Law, 114(I) of 2005 that implemented Directive 2003/71/EC on the contents of prospectuses when securities are offered to the public or admitted to trading (the Prospectus Directive), the Insider Dealing and Market Manipulation (Market Abuse) Law, No. 116(I) of 2005, implementing the EU Market Abuse Directive (2003/6/EU), the Cyprus Securities and Stock Exchange Law, 14(I) of 1993 and The Cyprus Securities and Exchange Commission (Establishment and Responsibilities) Law, number 64(I) of 2001; but also the Regulations made under the Cyprus Securities and Stock Exchange Law, and in particular the 1995 Regulations as amended. To the extent
practical insight to cross-border Product Liability work
For the purpose of harmonisation with the Directives 2004/39/EC of the European Parliament and of the Council on Markets in Financial Instruments (“the MiFID”), and Directive 2006/31/EC of the European Parliament and of the Council of April 5 2006 Cyprus enacted on November 2007 the Law 144 (I)/2007 (“the Law”), that provides for the Supply of Investment Services, the Exercise of Investment Activities, the Function of Regulated Markets and other related issues”.
This article provides a short account of the Cyprus Republic (“Cyprus”) legislative guidelines (hereinafter the “guidelines”) in connection to publicity and/or the release of information and/or inside information when securities and/or financial instruments are offered to the public and/or admitted to trading on a regulated market. It should be noted that the present merely serves as an indicative supplement to the existing legal framework set below and it should be read closely together with the same. Terms and/or definitions herein employed, except otherwise stated are in accordance with the context of Cyprus legislation.
In two recent cases the Limassol District Court has held that the statutory right of a shareholder to petition for the winding-up of the company in which it is a member cannot be excluded and/or waived by shareholders' agreement.
The Supreme Court recently recognized and established the jurisdiction of the Cypriot courts to issue discovery and disclosure orders - known as Norwich Pharmacal and Bankers Trust orders.Read more...
Before the accession of Cyprus to the European Union, the Cypriot courts did not have jurisdiction to issue injunctions with extraterritorial effect. This principle was established by the Supreme Court in the Pastella Case.
A Cypriot first-instance court has recently issued an anti-suit injunction preventing a Cypriot company from continuing a legal action filed against a foreign company before the Kazakhstan courts.Read More...
In a recent decision, a Cypriot district court rejected an application for the recognition and enforcement of an arbitral award issued by the Austrian Arbitral Centre due to the applicant's failure to produce the original arbitral agreement or a certified true copy of the arbitral agreement.Read more...
Thinking in concrete terms the positive end of any litigation relates to the assets and the potential enforcement of the judgment being obtained. Nevertheless, there is always the risk that the defendant will remove his assets from the court’s jurisdiction, thus defeating the creditor of his claims. No court should allow the defendant to create such a situation which undermines the efficacy of the judicial process. Most common law litigants are aware nowadays of the effectiveness and success of Mareva injuctions. This type of order was the answering measure of the courts in England to this hide and seeks game.
The prohibition of financial assistance by a Cyprus company to purchase its shares or the shares of its holding company often stands as an obstacle in local and international acquisition finance transactions. However, expert legal advice may assist in providing alternative structures and solutions.
Although the Financial Collateral Arrangements Law ( No 43(I) of 2004 ( hereinafter referred to as the "Law" for the purposes of this article) was passed nearly two years ago, in March of 2004 and came into force on May 1st 2004 (the date of Cyprus accession in the European Union) its consequences and implications may still not be fully appreciated.