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Harneys

OMRANIA CENTRE, 313, 28TH OCTOBER AVENUE, 3105 LIMASSOL, CYPRUS
Tel:
Work +357 2582 0020
Email:
Web:
www.harneys.com
Grand Cayman, Hamilton, Hong Kong, Limassol, London, Montevideo and 3 more

Top-tier Firm rankings

Firm Rankings


Cyprus

Banking and finance
Banking and finance - ranked: tier 2

Harneys

Harneys is adept at handling multi-jurisdictional matters and recently advised Songa Group on over $2bn of financing for its drilling rigs. The team also acted for Advent International to finance the acquisition of a large stake in a consumer products business. Other clients include Deutsche Bank. Pavlos Aristodemou is ‘excellent’ and Nancy Erotocritou is another name to note.

Leading individuals

Pavlos Aristodemou - Harneys

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 1

Harneys

Harneys’ ‘outstanding team’ acts for major clients such as Porsche and Goldman Sachs, with recent deals including acting for Advent International on its acquisition of a large stake in Crompton Greaves’ consumer electricals business and advising on the establishment of Turquoise Variable Capital Investment Fund plc, an EU-approved alternative investment fund focusing on Iran. Pavlos Aristodemou and Demetris Loizides are key figures in the practice.

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Tax
Tax - ranked: tier 2

Harneys

Harneys’ specialist team represents clients such as Ernst & Young. Practice head Emily Yiolitis is ‘prepared to go the extra mile for her clients’. Regulatory and investment expert Aki Corsoni-Husain gives ‘practical tax advice’.

Leading individuals

Emily Yiolitis - Harneys

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Further information on Harneys

Please choose from this list to view details of what we say about Harneys in other jurisdictions.

Bermuda

Offices in Hamilton

Cyprus

Offices in Limassol

Foreign firms

Hong Kong

Offices in Hong Kong

Cayman Islands

Offices in Grand Cayman

British Virgin Islands

Offices in Tortola

Legal Developments in Cyprus

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • 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 UNDER THE COUNCIL REGULATION (EC) NO 44/2001 ON JURISDICTIONAND THE RECOGNITION AN

    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.
  • ECJ CASE C-28/26 - RECOVERABILITY OF INPUT VAT OF A HOLDING COMPANY

    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.
  • CYPRUS

  • CYPRUS: ARBITRATION – ANTI-SUIT INJUNCTION ISSUED BY ARBITRATORS

    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.
  • Cyprus: Worldwide freezing orders

    In the English case of Derby& Co v Weldon (No3 and 4) (1990) Ch 65, the Court of Appeal held unequivocally that a court can order a defendant’s assets to be frozen even if they are situated outside of the jurisdiction. However what is vital to be established in such circumstances is: