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The firm

From its founding in 1924 to its present-day status as a leading law firm, Tornaritis Law Firm has demonstrated a sustained commitment to excellence in the practice of law, public service and a civil society. The firm’s practice and character is deeply rooted in its history, as exemplified in the history of its lawyers and services.

Criton G Tornaritis QC started as a young lawyer from Limassol. Among his many accomplishments he was to be the first Attorney General of the Republic of Cyprus. He wrote 65 complete books and more than 5,000 essays, the content of which was mainly legal. Among the tens of honours and distinctions bestowed upon him were those of the Queen’s Counsel (QC) and the Athens Academy Prize for his outstanding literary work. He became known worldwide for his shrewd legal mind, his sobriety and for always being down-to-earth. He was followed by his son George C Tornaritis, who was registered as advocate in 1959 with the Supreme Court of Cyprus. He defended many famous cases and founded the Tornaritis Marine Life Foundation in 1992, acting as its first president.

The managing partner today is his grandson Criton G Tornaritis, who was registered as advocate in 1989. He has long experience with the Eastern European market and Romanian jurisdiction. Today, the firm includes lawyers who have the experience, maturity and legal skills to handle a wide range of legal problems. Although the firm has matured from its beginnings in the early part of the 20th century, the character of the firm is still true to the dreams and visions of its founders.

Areas of practice

The firm is an expert in handling large and complex claims, both domestic and international, involving some of Cyprus’ largest financial institutions. It represents clients involved in a wide range of complex national and international commercial disputes through the life cycle of the dispute.

The firm advises on a wide range of medium to high-value banking disputes. Its experience in this area includes actions on behalf of banks, corporate clients and individuals, having acted on a number of significant cases in investment banking. The firm advises on disputes involving: financial institutions; bonds and other forms of debt finance; syndicated or bilateral; trade finance involving letters of credit and other documentary credits; factoring, discounting, securitisation and asset-based lending; foreign currency and other commodity disputes; and fraud and asset recovery.

The firm is experienced in assisting clients in restructuring or insolvency structures or proceedings. It is recognised as a specialist in commercial resolution of disputes arising from corporate failures. The firm has experience in the winding up of a company, especially in its relation to court. Clients include creditors, debtors and insolvency practitioners.

The firm has great expertise in banking and credit applications for banking and financial institutions in Cyprus, including providing assistance and submitting applications to grant an authorisation by the Central Bank of Cyprus for electronic money services in the Republic of Cyprus.

The firm holds a specialist licence from the Cyprus Stock Exchange as a listing advisor for the Cyprus Stock Exchange Emerging Companies Market, and the strong regulatory compliance department lends weight to prospective listings in the eyes of the CSE and potential investors.

Tornaritis Law Firm has established relationships with international firms. Currently it is co-operating with DLA Piper regarding a contractual project in Hong Kong and Cyprus, and is also co-operating with the UHY London offices regarding insolvency proceedings. It also provides legal services for banks and financial institutions in Canada, Romania, Lebanon, Hong Kong and the UK.

The firm also has experience in the following: administrative and public law disputes involving immigration, employment and family law; injury, accident and insurance claims and disputes; and real estate disputes involving purchasers, vendors, landlords, tenants, construction firms, developers, management companies and financial institutions, with expertise ranging from litigation of basic agreements and contractual disputes to complex multi-jurisdictional measures to protect and enforce clients’ rights.


Number of lawyers 19

Above material supplied by Tornaritis Law Firm.

Legal Developments in Cyprus

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Notional Interest deduction 11/17

  • Cyprus: Changes To The Inheritance Process Under European Succession Regulation 650/2012

    The growing importance of cross border successions within the European Union and the difficulties and complications resulting from the diversity of succession and private international law rules relating to succession, prompted the European Commission to examine the possibility of introducing a Regulation that would facilitate and streamline cross border successions.
  • A fight against corruption by the proposed introduction of Criminal Record Certificates for Companie

    Due to existing problems with regards to companies competing for the undertaking of public projects, on the 28 th  September 2015 the Cabinet decided to give an end to the scandals involving the squander of millions of public money by approving an amendment Bill, which would add to the conditions for public tenders, the requirement of providing a Criminal Record Certificate for legal entities. Until today, this was not required due to gaps and loopholes in the existing Law. Provided this Bill will be passed into Law by its publication at the Official Gazette of Cyprus, companies applying for public tender will be asked to produce a certificate that would show they have a clean criminal record.

    Lis Alibi pendens is Latin for "suit pending elsewhere" . Both Articles 27 and 28 of the EU Regulation 44/2001 regulate the existence of lis alibi pendens and related judicial actions. In particular it is a doctrine that regulates the jurisdictional relationship of courts hearing concurrent proceedings involving the same or related causes of action between the same parties pending in the courts of different Member States.
  • The new features under the Recast Regulation 1215/2012

    The significance of the EU Regulation 44/2001 is well known as its rules determine both the jurisdiction of courts in the EU in civil and commercial disputes and the conditions for the recognition and the enforcement of their judgments in other EU member States.

    Case C-28/26 - Examines the right of a holding company to deduct input VAT on services acquired in the interest of its subsidiaries where those services are offered to its subsidiaries with no consideration.
  • European Commission proposes new VAT rules to support e-commerce and online businesses in the EU

    On 1 December 2016, the European Commission has published proposals to improve the Value Added Tax (VAT) environment for e-commerce businesses in the EU. Particularly, the proposed changes, aiming to allow start-ups and SMEs, to buy and sell goods and services more easily online.
  • Unjust Banking Practices in Swiss Franc Loan Agreements

    The Cypriot banking system is currently being confronted with the issue of providing foreign loans and in particular Swiss francs to both locals and foreigners to cover their housing requirements. Of principle concern in Cypriot and European Courts are the banking practices used in attracting clients to these financial institutions. It seems that misinformation through the use of various means of bank notifications and practices point towards the use of the distortion and the concealment of essential information to borrowers. The Cypriot banking system (that is sanctioned by European banking) in the provision of Swiss Francs did not in most cases provide a complete and proper briefing of the risks involved in these types of loan contracts that also incorporated exchange and interest rate fluctuations.


    The European Court of Justice (‘ECJ’) in the Gazprom Case (2015) held that anti-suit injunctions issued by arbitral tribunals in relation to the pursuit of Court proceedings within the EU, are not incompatible with the Brussels Regulation. The ECJ held that the BrusselsRegulation does not prevent a Court in an EU Member State from recognizing and enforcing an award containing such an anti-suit injunction, either pursuant to national law, or the New York Convention.