Firms in the Spotlight Banking and finance

Patrikios Pavlou & Associates LLC

Patrikios Pavlou & Associates LLC logo

The Banking and Finance team at Patrikios Pavlou & Associates LLC is ranked in the top tier for Cyprus, duly acknowledged for delivering outstanding legal services to its clients. With extensive experience in the legal market and the international culture, the lawyers and legal consultants of the Firm successfully handle challenging cross-border corporate finance transactions …

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Banking and finance in Cyprus

Antis Triantafyllides & Sons LLC

Antis Triantafyllides & Sons LLC fields an experienced team adept in handling complex and high-value financing and refinancing transactions both secured and unsecured on the international and domestic markets. It is skilled in all aspects of such deals from project financing and mezzanine financing, through to structured financing and securities enforcement. The 'responsive and thorough' practice, led by Stelios Triantafyllides, is also praised for its advice on regulatory matters and licensing. Clients include high-profile international lenders, arrangers and facility agents alongside borrowers, guarantors and security providers. Senior managing associate Marios Hadjigavriel is recommended along with Christiana Vassiliou Miliou, who has worked on a significant number of complex financings.

Practice head(s):

Stelios Triantafyllides

Other key lawyers:

Marios Hadjigavriel; Christiana Vassiliou Miliou; James West

Testimonials

‘Experience and knowledge of the industry’.

‘Its banking and finance team is comprised mostly of ex-banking-internal-legal people which makes it stand out as against competitors in that the lawyers know how the system works’.

‘Very responsive, good value’.

‘Stelios (partner), James West (associate) know their stuff and provide good value ’.

‘Very experienced on banking matters and very responsive team’.

‘James West is very experienced and helpful’.

‘The team consistently delivers so the transaction runs smoothly’.

Key clients

APS Debt Servicing Cyprus Ltd

AstroBank

Bank of Cyprus Public Company Ltd

ContourGlobal

Credit Suisse

Deutsche Bank

European Bank for Reconstruction and Development

Goldman Sachs

Hellenic Bank Public Company Ltd

VTB Bank

Work highlights

  • Acting as local legal counsel to a group of export credit agencies on the proposed USD multi-billion project financing of the Area 1 Mozambique LNG Project in Mozambique.
  • Advised Avia Solutions Group on an English law guarantee, in connection with the issuance of guaranteed notes, i.e. the team advised on organising a five-year bond issue of high yield Rule 144A/Regulation S $300m 7.875% guaranteed notes due 2024.
  • Advised a major alternative asset management company serving institutional investors in connection with a financing facility of an amount up to $75m that was granted to an integrated grain supply and export logistics group operating in the Ukraine.

Elias Neocleous & Co LLC

Under the leadership of Demetris Roti, the banking and finance team at Elias Neocleous & Co LLC is a regular advisor to international law firms, leading Cypriot banks and financial institutions, major international commercial and investment banks, and private equity funds. The team acts for clients on the full spectrum of matters, from NPL portfolios to Cypriot law aspects of major domestic and international deals. The team is also praised for its advice on financial services regulation and work on the establishment of regulated structures in Cyprus. Nicosia-based Andrea Kallis Parparinou is a leading name alongside Limassol-based managing partner Elias Neocleous and consultant Dimitris Papoutsis.

Practice head(s):

Demetris Roti

Other key lawyers:

Dimitris Papoutsis; Andrea Kallis; Elias Neocleous

Key clients

Avanti Communications Group PLC

Altamira Asset Management Limited

APS Holding a.s

European Bank for Reconstruction and Development

International Finance Corporation

Eurobank Greece and Eurobank Cyprus

RBS Coutts

Bank of Cyprus

Bank of Scotland

Bloomberg

Hellenic Public Bank Company Limited

Emma Delta Variable Capital Investment Company Limited

Lloyds Bank

Credit Suisse

Deutsche Bank AG

General Electric Company

Raiffeisen Bank International AG

Jordan Kuwait Bank

Limassol Marina

Prodea Investments Limited

Byblos Bank

Work highlights

  • Advised the senior syndicated lenders- J.P. Morgan Securities PLC, BNP Paribas S.A. and Deutsche Bank AG, London Branch as Mandated Lead Arrangers, ING Bank N.V., London Branch as Agent and ING Bank N.V., London Branch as Security Agent on the release of the existing securities and on the refinancing of the obligor’s existing facilities with a new senior term loan and revolving credit commitment.
  • Advised Banca Commerciala Romana SA in relation to the financing of the new Courtyard by Marriott hotel in Romania.
  • Advised the initial purchasers-of Frigoglass Finance B.V.  on the issuance of €260m senior secured notes.

Harneys

Pavlos Aristodemou heads up the practice at Harneys, which is well-regarded for its capabilities in multi-jurisdictional deals and regularly acts for blue chip clients, including financial institutions, private equity funds, and international law firms. It is also noted for its considerable experience in non-performing loan transactions and restructuring advice to large conglomerates and companies in various sectors, including infrastructure, oil & gas and real estate, alongside its work on large-scale project financings. Nancy Erotocritou is recommended for her work on project and asset financing, security structures, and capital market transactions.

Practice head(s):

Pavlos Aristodemou

Other key lawyers:

Nancy Erotocritou; Theodoros Zafiropoulos

Testimonials

‘It has a very strong team that can help with any question that may arise during the deal. I’m also very impressed by the speed of  responses and actionable advice’.

‘I’m particularly impressed with partner Pavlos Aristodemou who is very responsive and instrumental in resolving difficult matters.’

‘Very professional and responsive – long relationship with clients’.

‘Theo Zafeiropoulos – very calm and composed coming up with the most reasonable solutions / problem solving lawyer’.

‘The Harneys team has been extremely responsive and commercial in its work with us.’

‘Theodorus Zafiropoulos is always very responsive and his comments have been insightful and helpful’.

Key clients

Anadarko Mozambique Area 1, Lda

TCS Group Holding PLCC

European bank for Reconstruction and Development

Sberbank of Russia

J.P. Morgan

Citigroup

Raiffeisen Bank International

Work highlights

  • Acting as Cypriot counsel to a syndicate of banks in respect of the provision of additional financing to one of the largest pharmaceutical companies worldwide for various purposes including the carrying out of research for the purposes of finding a vaccination for COVID-19.  
  • Advising and representing one of the world leaders and investors in NPLs in connection with its intended bids in respect of three high profile sales of non-performing loan (NPL) portfolios, two of them conducted by the biggest banks in Cyprus.
  • Advised on the Cyprus law capital markets security loans, regulatory and tax aspects of the placing and sale of global depository receipts representing interests in class A shares in TCS Group Holding PLC (the parent company of Tinkoff Bank) by Altoville Holdings Limited, the joint-controlling shareholder of Russian consumer lender TCS Group to raise $150m.

Chrysostomides Advocates & Legal Consultants

Chrysostomides Advocates & Legal Consultants frequently acts as local counsel for a number of international banking institutions on multi-jurisdictional transactions, handling an array of syndicated and project financings and re-financings. The team has recently advised on financing aspects of various projects, particularly renewable energy and fintech matters. It also works on various contentious matters and often acts on behalf of banks on debt collection matters, as well as advising banks subject to liquidation. The practice is led by Chryso Pitsilli-Dekatris, with Anna Rossides another key member of the team.

Practice head(s):

Chryso Pitsilli Dekatris

Other key lawyers:

Anna Rossides; Pavlos Symeonides

Testimonials

‘Anna Rossides always keeps in touch, gives max effort when we need it the most’.

‘In my view, Chrysostomides is one of the most experienced, trained and responsible legal teams in Cyprus. The lawyers really understand how to do complicated transactions in a cross-boarder environment and perfectly feel how to do things in Cyprus. ’

‘The team was always very responsive, demonstrating a clever way of thinking, deep understanding of needs, outstanding responsibility and professionalism’.

‘Highly responsive; clear and direct advice ’.

‘From my perspective getting a clear understanding of what is required and then getting the job right, on time and on pre-agreed budget is key. Chrysostomides has been doing just that for a number of years already’.

‘Pavlos Symeonides stands out for a very thorough approach, for allocating sufficient time to understand the issue(s), my needs and expectations and providing the most efficient solution and, most importantly, delivering on such solutions as promised. I know from the get-go that I will get exactly (or more)  what Pavlos has promised’.

Key clients

Morgan Stanley

Natixis (Singapore Branch)

Bank Hapoalim

Société Générale Bank – Cyprus Limited

Credit Suisse (Switzerland) Ltd

First Abu Dhabi Bank P.J.S.C. (Singapore Branch)

East Line Group, a Russian airport infrastructure business operating the Domodedovo International Airport which is the only privately-owned airport in Moscow

ABN AMRO Bank N.V

Endo International PLC

Astrobank Public Company Limited

Barclays Bank PLC

Housing Finance Corporation (Cyprus)

Atalaya Mining Plc

Work highlights

  • Advised various banks on three separate occasions over the last 12 months on numerous financing transactions, ranging from $450m to $1.68bn.
  • Advised the Russian airport infrastructure business that is operating the Domodedovo International Airport (the only privately-owned airport in Moscow) on a $650m financing transaction.
  • Representing and advising the global pharmaceutical company, Endo International PLC, on Cyprus law matters in relation to a number of multi-billion dollar notes offers and exchanges.

Chrysses Demetriades & Co Law Office

The banking and finance practice at Chrysses Demetriades & Co Law Office  has a wide range of expertise in all types of corporate finance deals including syndicated lending, NPL recovery and securitisation, securities issues, and fund structuring. It is frequently instructed by leading local and international banks and financial institutions to advise on complex matters such as acquisition financing and debt for asset swaps, in addition to significant restructuring transactions. Practice head Demosthenes Mavrellis is highlighted as a skilled banking and finance lawyer with considerable transactional experience.

Practice head(s):

Demosthenes Mavrellis

Key clients

Bank of Cyprus PLC

Morgan Stanley LLC

Goldman Sachs Intl.

Piraeus Bank S.A

Alfa Bank S.A. (Athens)

Advent International

J.P. Morgan International

The Leptos Group

Howden Broking Group

Barclays Bank PLc

Nomura Singapore

BNP Paribas

Deutsche Bank

NBG PANGAEA REIC

Steering Committee of Lenders to Interpipe

Work highlights

  • Advised Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and VTB Capital plc as joint book running managers for the offering of the ADSs in Headhunter Plc.
  • Advised a Steering Committee of lenders on a new $1.2bn debt restructuring of one of the leading producer of steel pipes in Europe.
  • Advised Nuvei in connection with its finance relating to the acquisition of SafeCharge International Group Limited for $889m.

George Y Yiangou LLC

George Y Yiangou LLC is vastly experienced in cross-border deals and works primarily for lenders, as well as some borrowers. It receives a steady flow of instructions from international law firms. Names to note are the joint heads of department Chris Yiangou and Lory Cirstea. The team has handled a significant number of high-value asset backed and refinancing deals, with particular expertise in investments in Russia, Ukraine, Eastern Europe, Greece and the Balkan countries.

Practice head(s):

Chris Yiangou; Lory Cirstea

Key clients

VTB Bank (Europe) S.E.

VTB Capital

VTB Bank PJSC

Sberbank of Russia

Sberbank Investments

AO “Alfa-Bank”

RCB Bank Ltd

Bank of Cyprus

Hellenic Bank

Aareal Bank AG

ACP Partners

Baring Vostok

EPP Group

Edmond de Rothschild (Suisse)

Société Générale

Unicredit S.p.a.

Unicredit Tiriac Bank

ZAO Unicredit

Nordea Bank

Raiffeisen Bank

ING Bank

HSBC Bank

Romanian Commercial Bank

Gazprombank

Bank of China

Work highlights

  • Advising Sberbank of Russia on the funding of the acquisition by Nakilep Overseas Limited of all the shares that are held by Geiser Asset Holdings Ltd in GeoProMining Investment.
  • Advising ING BANK N.V. (as facility agent) on the Cypriot law matters in connection with an $150m revolving pre-export finance facility granted to Moldova’s leading agricultural firm Trans-Oil by nine lenders, including three development banks.
  • Advising a Russian bank on a high-value corporate loan facility provided to a Cypriot subsidiary of one of the world’s largest independent commodities trading group of companies.

Ioannides Demetriou LLC

Ioannides Demetriou LLC regularly leads on large-scale syndicated arrangements, and has advised on an array of major banking transactions, buy-outs, and a diverse range of regulatory and compliance matters. The 'extremely professional and responsive' team has a good record on renewable energy projects, and is recognised for its work on various complex contentious matters. Pambos Ioannides co-heads the team and is recommended for his work with various clients such as semi-governmental organisations, banks and large corporate entities. Co-head Christina Ioannidou is highly rated for her work on syndicated loans and restructuring.

Practice head(s):

Pambos Ioannides; Christina Ioannidou

Other key lawyers:

Katerina Hadjichristofi ; Zoe Christou; Savvas Yiordamlis

Testimonials

‘The team possesses in-depth knowledge of legal issues and produces timely and well structured responses and solutions to various matters –  Christina Ioannidou and Katerina Hadjichristofi. The associates of Ioannides Demetriou LLC are always accessible and prompt in their replies. Ioannides Demetriou LLC is excellent.’

‘Christina Ioannidou is available to discuss at any time, with a practical approach to the issues raised and with great communication and analytical skills. Savvas Yiordamlis has expertise in the area of litigation with critical thinking and interpersonal skills. ’

‘Ioannides Demetriou LLC is one of the largest law firms in Cyprus. The associates of Ioannides Demetriou LLC are professionals, insightful and experts at their field whilst being personable! The lawyers comprising the law firm are prompt in their replies which is always appreciated given the rigorous rhythms of the market. ’

‘Christina Ioannidou is a director in the law firm with deep and extensive knowledge in the banking and finance area as well as corporate law. Christina’s input is always thorough and reliable. Savvas Yiodamlis is hardworking and at all times available to discuss any points of concern whilst offering a pragmatic approach‘.

‘We worked with the IDL team on a demanding and non-standard project and the team pleasantly surprised us with its knowledge, flexibility, availability and efficiency.’

‘Mrs. Katerina Hadjichristofi has been our primary contact and she has been very cooperative, responsive under tight deadlines with a problem solving attitude.’

‘ Knowledgeable staff – Great commitment to client service – Direct availability of senior partners – Speed of responsiveness’.

‘I work mainly with Christina Ioannidou and Zoe Christou, and they are unfailingly responsive and helpful in their dealings with me. I value their technical expertise, professionalism and friendliness.’

Key clients

The Cyprus Stock Exchange

Eurobank Ergasias SA / Eurobank Cyprus Ltd

Hellenic Bank Public Co Ltd

VLPG Plant Ltd

Cybarco Development Ltd

Grant Thornton

Mercuria Energy Group

Apollo Global Equities Fund of Funds Vcic Plc

Louis Plc

ING Bank N.V.

CNP Assurance / CNP Cyprus Insurance Holdings Ltd

Bank of Cyprus Public Co., Ltd

Hellas Direct Insurance Ltd

NKS Shacolas Group

Hermes Airports Ltd

Tsokkos Group

Cyprus Organisation for Storage and Management of Oil Stocks

Work highlights

  • Acted as legal advisors on the Cypriot law aspects of the demerger of the Greek bank Eurobank Ergasias through the hive down of its banking business and representing the client and its group companies in various matters with the Central Bank of Cyprus.
  • Acting as lead local counsel to Louis Plc, a leading tourism organisation in the Southern Mediterranean and advised on a successful restructuring of around €250m financing with local and international credit institutions.
  • Advising Cyprus Stock Exchange in relation to a co-operation structure with SIX SIX Switzerland and a joint venture relating to Athens Energy Stock Exchange.

Michael Kyprianou & Co. LLC

Michael Kyprianou & Co. LLC's active and varied practice frequently works on complex and high-value, cross-border financings that often involve multiple currencies. It has particular sector expertise in areas such as cosmetics, forestry, mining, energy and shipping. The 'efficient' team has experience of acting for borrowers, lenders and security providers, and has a long-standing relationship with major international law firms. The practice is led by the well-regarded Lambros Soteriou and Tonia Antoniou. The team has expanded at a senior level in the past year as Ioanna Solomou and Lorena Charalambous were promoted to the partnership.

Practice head(s):

Tonia Antoniou; Lambros Soteriou

Other key lawyers:

Lorena Charalambous; Ioanna Solomou; Kyriakos Constantinou

Testimonials

‘Responsiveness, an understanding of clients’ needs, concise and helpful advice’.

‘Tonia Antoniou is a remarkable partner with in-depth knowledge of key commercial and legal areas as required. Kyriakos Constantinou and Lorena Charalambous are hardworking and are ready to respond to your query at short notice while also providing a high quality advice’.

‘Very efficient team that is available anytime and always assists us on complex Cyprus law matters’.

‘Tonia Antoniou and Lorena Charalambous are exceptional lawyers, a pleasure to work with. They are very efficient, always meet deadlines and are up-to the point on Cyprus law matters’.

‘Recommended counsel for Cyprus! The lawyers are knowledgeable, produce top quality documents and keep to agreed deadlines. Its billing is transparent and it can handle things efficiently and quickly. The lawyers are also flexible in case of unexpected developments’.

‘Lorena Charalambous – Lorena is one of the best Cypriot lawyers I encountered, she is very responsive, always on top of things, organised and business oriented. Kyriakos Constantinou – Kyriakos is a talented and skilled lawyer, he is organised, delivers good products and is generally easy to work with’.

Key clients

ABN AMRO Bank N.V. and EIB (European Investment Bank)

IVI.RU

VTB Bank PJSC

Patrikios Pavlou & Associates LLC

Patrikios Pavlou & Associates LLC advises a variety of banking and financial institutions, and is renowned for its experience in structuring security packages and enforcing securities out of court. The team also specialises in cross-border ship and aircraft financing and has strong capabilities in other industry sectors such as energy, mining and metals, retail, and telecommunications. Stavros Pavlou and Lia Iordanou Theodoulou head the 'experienced and stable' team, specialising in cross-border securities and listings, and work with major banks and financial institutions respectively. Angeliki Epaminonda was promoted to the partnership in 2020.

Practice head(s):

Stavros Pavlou; Lia Iordanou Theodoulou

Other key lawyers:

Stella Strati; Angeliki Epaminonda; Angelos Onisiforou

Testimonials

‘Patrikios Pavlou is particularly strong in M&A, banking and litigation. It has enormous experience working on transactions involving CIS clients and counterparties (such transactions frequently include unorthodox legal structures and require innovative legal thinking)’.

‘Lia Iordanou  is extremely responsive and reliable, and can think “outside of the box”. Stavros Pavlou assists the transactional team on most complex Cypriot law issues’.

‘Stella Strati is my primary point of reference. I value her 360 awareness of all legal matters, instant availability, willingness to work within available budgets and no compromise to quality’.

‘It’s always a pleasure to work with Patrikios Pavlou (the PPA) since compared to some other firms the team is always attentive to details, always available for the client, and if there is a need to get a clarification, the banking and finance practice always returns with a detailed and constructive answer. PPA is sensitive to client’s needs and may offer a solution that would satisfy them to the fullest’.

‘Angeliki Epaminonda always acts as a professional to the highest standards; she is cooperative, client-orientated, her legal services are useful, coherent and sufficient.  Angelos Onisiforou is always there for the client, ready to provide timely legal assistance. He demonstrates deep knowledge of financial and corporate law, and it is also enjoyable to work with him as with a person’.

‘Dedication to results. When we contacted the firm we specifically requested result oriented approach and this is what we received ’.

‘The team is very strong and is on top of legal developments. The lawyers always deliver on time and are very responsive. With this law firm on board, we know that our clients are in safe hands and the relevant legal points will be considered and dealt with. ’

‘Lia Iordanou is very efficient and gets to the crux of the matter. She has excellent relationships with other law firms in the market and, as a result, manages to sort out any differences and issues quickly and efficiently. She is a pleasure to deal with. Her scrupulous approach to the problem gave an opportunity to structure the deal with the most effect for all the participants’.

Key clients

Gazprombank JSC

Gazprombank International SA

VTB Bank OAO

Ivanyan & Partners

Bank of America Merill Lynch

Bank of Cyprus PLC

Sberbank

Commerzbank

Alpha Bank Cyprus Ltd

Freshfields Bruckhaus Deringer LLP

Deutsche Bank AG

Orsingher Ortu Avvocati

Work highlights

  • Assisting a leading Russian bank on a €1bn transaction concerning a Cyprus company’s subsidiary Russian LLC company and its entry into several agreements.
  • Advising a leading Russian banking institution in relation to a $34m financing transaction with an Austrian entity operating in the European market as an oil trader.
  • Advising a leading international commercial bank on various matters involving financial products that are marketed in the Cypriot and Greek markets, while considering various issues such as market practices, trading and financial regulation.

Mouaimis & Mouaimis LLC

Mouaimis & Mouaimis LLC has acted as Cypriot counsel on a number of major international and bilateral syndicated financings, project financings and corporate reorganisations. Clients include international banks and financial institutions in addition to multinational companies and international groups of investors. It is also regularly instructed by international law firms. Practice heads Panayotis Mouaimis, Michalis P. Mouaimis and Andriani Mouaimi are key names to note.

Practice head(s):

Panayotis Mouaimis; Michalis P. Mouaimis; Andriani Mouaimi

Testimonials

‘The team is excellent. I have worked with it for nearly 20 years. The lawyers are thorough and I have no doubt that the end result will meet the needs of the ultimate client without fail’.

‘Panayotis Mouaimis can be guaranteed to provide a thorough approach to any issue’.

‘Having used M&M on a number of transactions, involving holdco structures in Cyprus, I have found the firm to be responsive and also to provide practical advice. I am not looking for a treatise, but practical solutions to help get deals done‘.

‘Mouaimis & Mouaimis LLC’s team has great experience. The lawyers do the job professionally, with high level of expertise, in due course, with great involvement in the project, its specifics and are ready to provide any required timely support. Not only associates but also partners are always involved in the projects’.

‘Michalis P. Mouaimis shows a high level of expertise, provides clear advice exactly on the case, takes a proactive position to work and is always in touch’.

Key clients

Dun and Bradstreet

McCormick & Company, Inc

Stratus Technologies Inc

Bayer Middle East FZE

Interpipe Limited

International Finance Corporation

PJSC Myronivsky Hliboproduct / MHP SE

Wallem Group Limited

Black Sea Trade and Development Bank

Work highlights

  • Advised a collateral agent in connection with amendments to a financing agreement and security documents securing the financing agreement so that they were in compliance with local laws.
  • Advising a large investment and real estate group of companies established in Ukraine in connection with a facility agreement and security documents that were entered into by subsidiary companies of the group so that they were in compliance with local laws.
  • Advising a large group of petroleum and biofuels  in relation to an amendment to a facility agreement entered into by the holding company of the group and the amendments to the security documents entered into by subsidiaries of the group securing the facility agreement so that they were in compliance with local laws.

STELIOS AMERICANOS & CO LLC

STELIOS AMERICANOS & CO LLC advises on high-value, cross-border acquisition and project financing deals, alongside re-financings and real estate financings. Other strengths include syndicated and bilateral lending. Banking clients include local and international commercial and investment banks, with other clients including international finance organisations, investment funds, and corporate borrowers. Practice head Despina Americanou is known for her experience in debt restructuring matters.  Stelios Americanos is another prominent member of the team.

Practice head(s):

Despina Americanou

Other key lawyers:

Stelios Americanos; Olga Petrova

Testimonials

Very experienced team with good quality and reasonable pricing. Deep knowledge of Russian/CIS specifics. Comprehensive legal briefings and alerts. Despina Americanou is very responsive and always can help. Russian speaking Olga Petrova helps to make communication easier‘.

The team is always very approachable and responsive. The lawyers are knowledgeable and provide clear advice on legal points. We work mainly with Despina Americanou and Olga Petrova.  They are always fully engaged in matters and available for queries‘.

The team is very practical and to the point. Easy do deal with. Stelios has a very commercial and practical approach and always offers a solution and fresh perspective. Despina Americanou is very service oriented‘.

Key clients

NICOSIA MALL HOLDINGS (NMH) LTD

ERSTE BANK

CREDIT EUROPE (RUSSIA) LTD.

VTB BANK (JSC)

BANK OF CYPRUS

ALFA BANK UKRAINE

AK BARS BANK PJSC

HINES INTERNATIONAL FUND MANAGEMENT COMPANY S.A.RL

BANK HAPOALIM

ZUBR CAPITAL

Work highlights

  • Acted as legal advisor for the consortium members in relation to the purchase of shares of the NICOSIA MALL HOLDINGS (NMH) LIMITED and its subsidiaries.
  • Acted as Cypriot legal counsel on behalf of the lender, in relation to the additional financing, totalling €85m.
  • Acting as advisor to Credit Europe Bank (Russia) Ltd in relation to the sale and assignment of rights and obligations under a facility agreement.

A.G Erotocritou LLC

A.G Erotocritou LLC fields an ‘extremely efficient and knowledgeable team', with a versatile group of practitioners. Alexis Erotocritou leads the practice, and is adept at handling large scale banking and finance matters as well as complex restructurings. The team has niche expertise in advising on the financial aspects of commercial construction projects, with regulatory advice another strength.

Practice head(s):

Alexis Erotocritou

Other key lawyers:

Grigoris Sarlidis

Testimonials

‘Very eager and prompt to assist and carry out the work at a high level of professionalism. It delivers a service that you can rely on’.

‘The team is very efficient in the way it treats the client’.

‘Partner Alexis Erotocritou- his competence in financial and banking matters is top notch, with a focus on delivering high quality work combined with strict attention to detail. It is a pleasure to work with him, because of his firm commitment to results’.

‘Alexis Erotocritou provides extremely timely and practical advice. He is willing to invest time in understanding the case and providing real transparency in terms of billing’.

‘The firm provide various legal services, with its litigation and banking, corporate and real estate departments standing out for its professionalism. The firm has an outstanding approach for enhancing relationships with its clients and colleagues. The lawyers also have a fresh attitude and it is a very enthusiastic team with great depth of knowledge in the specialised matters it handles’.

We have had the opportunity to collaborate with Alexis and Grigoris Sarlidis. Both of them are exceptional lawyers with extensive knowledge of their fields, adopting a practicable approach and providing a 24/7 service to clients‘.

‘ Alexis Erotocritou is exceptional at handling banking work. He always adopts a practical approach, he is a problem solver and is available 24/7 for the client. ’

‘Fresh team with a very professional attitude towards all legal projects, no matter how big or small’.

Key clients

EUREKA

Cyprus Shipping Association

Gevorest

RPT Group

Primetel

Aquathrust

Johnsof

Work highlights

  • Selected by the Government of Cyprus, Ministry of Finance to carry out an extensive large scale due diligence exercise on a listed company.
  • Instructed by a leading international bank to assist the bank in implementing internal policies, guidelines and controls to comply with local law requirements relating to the bank’s cross-border investment, banking and payment services business.
  • Handling a large scale refinancing worth $300m for a large international bank, including complex issues relating to financial assistance and advice on the securities that are in place which comprise a pledge of the shares of a Cyprus company, suretyship agreements and various other securities in Russia over the borrowers assets.

Athos Demetriou Associates LLC

Athos Demetriou Associates LLC frequently works with international law firms, advising on local law aspects of large transactions and various project financing matters. It regularly advises domestic and international banks and financial institutions, borrowers, lenders and investors on debt financing and refinancing, securities, and other regulatory matters. Athos Demetriou and Anna Skouri lead the team.

Practice head(s):

Athos Demetriou; Anna Skouri

Testimonials

‘Anna Skouri – goal-oriented and practical approach towards problem solution’.

 

Key clients

European Bank for Reconstruction and Development

Allen & Overy (Czech Republic) LLP

Norton Rose Fulbright LLP

IFCM Cyprus Ltd

Mashav Energia

Elgan Automotive Group

K. Treppides & Co Ltd

FxPro Financial Services Ltd

ALTER DOMUS (CYPRUS) LIMITED

Allen & Overy (South Africa) LLP

LATOMIA PHARMAKAS PLC

Allen & Overy (Warsaw) LLP

Work highlights

  • Advised the lenders of a  project for a €100m financing of a joint stock company in Galnaftogaz.
  • Acting as the legal advisors of the lenders for the financing of an electric network project for $100m .
  • Acting as special Cypriot counsels through Norton Rose Fulbright LLP to a number of lenders for a $105mrefinancing to a joint stock company.

Clerides, Anastassiou, Neophytou LLC

Clerides, Anastassiou, Neophytou LLC is a boutique firm that acts for high-net-worth individuals, financial institutions, and large corporates. It frequently collaborates with international law firms on cross-border deals, notably large bi-currency financial deals. Other strengths include complex security structures and significant project financings. Stavros Clerides, Effie Anastassiou and Andri Stylianou head up the team.

Practice head(s):

Stavros Clerides; Effie Anastassiou; Andri Stylianou

Testimonials

‘The firm has a team of lawyers that is highly professional and not only meets but very often exceeds our expectations. The lawyers have a sound understanding of business matters and the practicalities involved and thus are able to assist us in navigating through various issues in an efficient way. Also the response times are impressive. The fees are competitive‘.

‘We work with Effie Anastassiou for corporate and bank finance transactions and with Stavros Clerides for tax matters’.

Effie Anastassiou is providing an exceptional quality of service, complete and accurate legal advice. She is very thorough, committed on every assignment and always has valuable comments and creative suggestions to make. She can be reached any time and has always managed to meet our deadlines however tight they may be‘.

Stavros Clerides has an exceptional grasp of tax and legal matters together and is of great assistance when we require innovative cross-border structuring work and tax planning. He is a brilliant lawyer with a deep understanding of corporate finance and business matters which inspire complete confidence as to the complex structures he suggests’.

We also work with Andri Stylianou who has wide experience in structuring and negotiating complicated cross-border transactions and is also very efficient’.

‘The firm offers specialist knowledge, high level of quality and prompt responses. It has an extremely efficient team of lawyers with in-depth knowledge of corporate and tax law and high levels of professionalism and solution-oriented attitude. The lawyers are among the very best in Cyprus, having the ability and willingness to put extra resources behind a matter, if required’.

‘Our group of companies is mostly served by Stavros Clerides and Effie Anastassiou. Stavros is an outstanding practitioner, highly creative and skilled and has huge experience in the arrangement of complex structures. He has in-depth legal knowledge of specialised legal issues, common-sense and provides valuable business-oriented advice. Effie has deep legal knowledge, can think outside the box and she is result-oriented. She is highly professional, proactive, with excellent response times. We also have contact with Andri Stylianou. She is very responsive and dedicated and combines legal and industry knowledge. ’

 

Key clients

Amalgam Rail Investments

Credit Agricole S.a.

Alpha Bank

Afi Development

Pay-me

Bluehouse Accession Property Holdings Iii S.a.r.l

Argus Capital Group

Sberbank

Allen & Overy

Big Solar A.e

Work highlights

  • Advised Bank Polska Kasa Opieki  on the €77m financing of a logistic park.
  • Advised Česká spořitelna on the securities for the €60m financing of a shopping mall.
  • Advised a major private equity real estate investment management fund on the €35m refinancing of a logistics park in Poland.

Deloitte Legal | Hadjianastassiou, Ioannides LLC

Deloitte Legal | Hadjianastassiou, Ioannides LLC's 'enthusiastic and knowledgeable' team advises international banks, European institutions, companies and governments across all industries and sectors on a broad range of financing and re-financing matters. The team is praised for using 'clear business language' and also has a good record on restructurings and non-performing loan matters. Kypros Ioannides and Andreas Thoma lead the team. Natalie Sepou is also well-regarded.  

Practice head(s):

Kypros Ioannides; Andreas Thoma

Other key lawyers:

Natalie Sepou

Testimonials

‘Efficient, well-organised and a trustworthy team. Andreas Thoma is an experienced business and finance lawyer with a profound knowledge of local and international business and legal practice’.

‘Very effective and practical in its approach towards client issues. The lawyers always provide workable solutions that are fully supported with adequate and reliable sources of reference. Widely knowledgeable in the field and reliable’.

‘The partners are very knowledgeable in their field. Stand out partners: Kypros Ioannides and Andreas Thoma. Professionalism, preparation and approach to the subject matter’.

‘The team is a pioneer in the space of banking regulations and legal risk management. What makes it truly unique is not just its technical knowledge but the fact that the lawyers are engaged in real commercial projects with other advisors and offer a broad view of thinking’.

‘The team has excellent knowledge of its subject matter and the lawyers are very responsive to clients’ comments and suggestions. They are well organised and are able to deliver on time and to adhere to pressing deadlines’.

‘Kypros Ioannides is excellent in providing solutions and thinking outside the box. Andreas Thoma is very responsive and very diligent in his work. Natalie Sepou is extremely dependable in meeting deadlines, irrespective of how tight they are’.

‘This is a top-notch law firm. I am working with partners Kypros Ioannides and Andreas Thoma on a regular basis and I am extremely satisfied by the level of service, depth of knowledge of local law and creativity in finding the most efficient solutions ’.

‘Andreas and his team are very responsive and make themselves available on short notice even where, as a result of the time difference, it would result in them being online early morning or late at night. The team is very pragmatic and strives to find solutions with opposing counsel in terms of any problems that arise’.

Key clients

Abacus Limited

Abris Capital Partners

Albourne Partners

Alfa Capital Holdings

Ancoria Bank

Ancoria Insurance Public Ltd

Astro Bank Ltd

Bank of Cyprus

CCHQ Services Limited

CEE Equity PartnersCleary Gottlieb Steen & Hamilton LLP

CMS Cameron McKenna Nabarro Olswang LLP

Commercial Estates Group Limited

CSC Group Ltd

Cyproman Services Ltd

Deloitte Limited

Dentons UK and Middle East LLP

DWF LLP

Elekta EPE

Fereos Limited

GQS Services Limited

Headhunter Group plc

HLB Cyprus Ltd

ICC Intercertus Capital Limited

IQ-EQ

National Bank of Greece (Cyprus) Ltd

Netherton Investments Limited

Piraeus Bank Group

R.R.Y. Capital Limited

Stephenson Harwood LLP

Treppides Investments & Holdings Limited

Work highlights

  • Advised an international bank on a complex financing structure involving credit facilities to 13 Cypriot companies.
  • Advised a systemic credit institution in Cyprus on the application of the bail-in tool in the context of the resolution of credit institutions and assisting in the preparation of a bail-in playbook requested by the Single Resolution Board, the central resolution authority within the Banking Union.
  • Advised a major English bank on the Cypriot aspects of an amendment and restatement agreement relating to the granting of a multi-million term loan facility of £55.5m to a Cypriot company.

KINANIS LLC

KINANIS LLC acts for borrowers and guarantors, international lenders and credit institutions as well as selling shareholders, arrangers, facility agents and underwriters. In addition the firm is an approved Nominated Advisor by the Cyprus Stock Exchange, leaving it well-placed to advise small-to-medium-sized companies on listings. Heads of team Nanette Kalava, Andri Michael, Christos P Kinanis are the key figures.

Practice head(s):

Nanette Kalava; Andri Michael; Christos Kinanis

Other key lawyers:

Maria Makridou

Testimonials

‘The banking team knows the banks and is able to properly predict an issue  before the issue comes up. That has saved us a lot of needless worrying’. 

‘Kinanis LLC Banking Team is outstanding; we have been working with the team members for many years – We believe that the fact that the same people are employed in the company for more than 20 years, is the best proof of excellency. During good years and crisis times the team members always delivered on time, without delay, professional services in respect to banking, payments, credit card services. Its dedication and skill in dealing with banking institutions results in swift and problem free banking operations for our group. In comparison to other institutions – Kinanis LLC banking team is always proactive and solution orientated’.

‘Highly responsive team that effectively handles a range of complex issues and provides detailed and well-thought advice’.

‘Maria Makridou is always available to discuss an issue and has an in-depth understanding of all commercial issues raised and is highly supportive and thorough in her advice’.

‘Very friendly, proactive attitude, high efficiency, immaculate professional ethics’.

‘The team consists of highly skilled and, what is quite unusual in this business, very fast responsive professionals. They take the proper actions immediately’.

PYRGOU VAKIS LAW FIRM

Debt restructuring, loan agreements and banking litigation are core components of the banking and finance practice at PYRGOU VAKIS LAW FIRM. It acts for an array of national and international clients on multi-jurisdictional matters. Heads of team Melina Pyrgou, Demetris Vakis and Georgia Papa are highly skilled practitioners.

Practice head(s):

Melina Pyrgou; Demetris Vakis; Georgia Papa

Testimonials

‘Team is accessible, knowledgeable and very efficient. It proposes specific solutions to problems and does not shy away from taking the responsibility for its position. As a customer I felt that I was treated with respect and always felt that I was a priority’.

‘I have worked closely with Demetris Vakis. He was always available, knowledgeable and clear about his opinion and advice, something that you do not often get in the legal spectrum. I think his experience adds a lot to the firm and the value provided to the customers’.

‘Apart from the fact that Melina Pyrgou and Georgia Papa are very talented lawyers, who have experience and a strong understanding of the issues, they are ready to help any time you need’.

‘ I was very impressed with PV’s responsiveness, level of knowledge and its wide network within regulatory community’.

‘Demetris Vakis has a very professional yet personal approach to working with others. I also enjoyed working with and meeting Melina Pyrgou’.

 

Work highlights

  • Advised its client on the compulsory acquisition of the minority shares in a major company and on the funding for this acquisition .
  • Advised the company on the re-financing of an energy project.
  • Advised a bank on the retaking of securities in relation to existing facilities following the resignation of certain directors of the subsidiaries of the borrower, whose shares were pledged in favour of the bank.

AGP Law Firm | A.G. Paphitis & Co. LLC

AGP Law Firm | A.G. Paphitis & Co. LLC has a diverse practice that specialises in real estate, project and business financing. It is also recommended for its work in other areas such as syndicated and consumer loans and trade financings. The team has a solid record on corporate liquidations and has been active in assisting investment firms and electronic payment institutions in reviewing legal documentation and security instruments. Managing partner Angelos Paphitis leads the team.

Practice head(s):

Angelos G. Paphitis

Other key lawyers:

Elena Kanarini

Testimonials

‘Experienced lawyers in the finance services industry – one of the few law firms in Cyprus specialising in this area of law’.

‘Angelos Paphitis is a great leader with exceptional knowledge of the industry. We have an excellent collaboration and he handles all tasks properly through his team. His advice and work ethic meet and sometimes exceed the standards’.

‘The banking and finance practice is one of the best in Cyprus in my opinion and our cooperation is going very smoothly. The team did an excellent job, it studied and understood our needs and operations very well and was able to prepare the entire application package for us with minimum inconvenience to us, and we were extremely happy with the results that we managed to get with the Central Bank’.

‘Ms Elena Kanarini is a very responsive individual.  I chose to work mostly with Elena because she is a smart, fast, experienced and diligent person. When I need true practical and strong advice I always turn to Angelos Paphitis. He is a strong character, with incredibly high knowledge when it comes to banking and finance laws. This law firm is a new generation; it is really specialised in banking and finance – not only on legal terms but also on regulatory aspects’.

‘Our company is an electronic money payment institution which requires expert advice on a daily basis. Our cooperation has been going very well. The banking and finance department of AGP is I believe one of the best in the industry in Cyprus. Having said that all lawyers and consultants have a detailed approach in everything that they do. I am very satisfied with the services provided, I always knew that when I asked for something it would be executed correctly, efficiently and on time, they never disappoint ’.

‘ The banking and finance department consists of very knowledgeable professionals and I have cooperated and spoken with most of the team. However, I usually speak with Angelos Paphitis – he will always find a solution, he is an excellent advocate. I also speak with Elena Kanarini she is a senior associate at the firm very helpful and knowledgeable lawyer and I know I can rely on her.’

 

Key clients

Weezzo Ltd

Ruffell Holding Ltd

Blue Media Ltd

Cliff Legal Services

eToro

Bozade Enterprises Limited

Quality Leather Trading Limited

Dufry Staer Holding Limited

Nobuko International Limited

Assetsplace Enterprising Limited

Namko Investments Ltd

Brainwise Consulting Limited

Miardo Investments Inc

Assethill Holdings Limited

Haxus Limited

Work highlights

  • Advising Cliff Legal Services on intra-group financing, settling of loans and whether the company could benefit from the notional interest deduction – work included.
  • Acting for Weezzo and working closely with the Central Bank of Cyprus in ensuring that all the financial and legal documentation of Weezzo are up to date as per ESMA and Central Bank’s rules.
  • Acting as liquidators for Quality Leather Trading, incorporated in the BVI.

Alexandros Economou LLC

Alexandros Economou LLC has extensive experience of advising both lenders and borrowers and has advised clients on all aspects of financing and re-financing matters. It regularly acts for banks and other financial institutions as well as receiving frequent instructions from international law firms. Practice head Alexandros Economou also specialises in shipping finance.

Practice head(s):

Alexandros Economou

Key clients

Herbert Smith Freehills LLP (Moscow)

Norton Rose Fulbright (Central Europe) LLP

VTB Bank (PJSC)

A major real estate investment group in Romania

Dufry Group

Tatra Banka, a.s.

Penta Group

AO Raiffeisenbank

A Cypriot investment company of foreign interests

A major real estate investment group in Greece

Work highlights

  • Advised a major Russian Bank on the restructuring of the financing of a Russian borrower (structured through Cyprus).
  • Represented a major Russian bank in connection with a $61.5m financing and refinancing of a Russian real estate group in connection with Russian properties held by Cyprus companies.
  • Advised a major real estate investment group in Greece in connection with a multi-million financing and related securities.

Harris Kyriakides

Led by Dr Nicolas Kyriakides and Georgia Karamalli, the team at Harris Kyriakides acts for various financial institutions and funds on a broad range of matters ranging from banking and finance to regulatory, advisory and restructuring work. Clients include domestic commercial banks and other credit institutions as well as international financial institutions, credit acquiring companies, and financial intermediaries.

Practice head(s):

Nicolas Kyriakides; Georgia Karamalli

Testimonials

‘The team’s professionalism has been an asset to our company – The lawyers are always available for advice, very responsive and knowledgeable – very good understanding of the cases’.

 

Key clients

Bank of Cyprus Public Company Limited

National Bank of Greece (Cyprus) Limited

Astrobank Public Company Limited

Hellenic Bank Public Company Limited

Bain Capital LP and Elliot Group

Pimco

DJK Group of Companies

Work highlights

  • Acting as key advisor to Bain Capital LP and Elliot Group for the performance of due diligence exercise for the potential purchase of the Helix 2 portfolio from Bank of Cyprus.
  • Advising a client on the initiation of enforcement measures and separate claims against the defendants for the fraudulent alienation of assets and the unwinding of a sham trust in the United Kingdom.
  • Advised a client in relation to the debt restructuring of the credit facilities of one of the largest debtors in Cyprus.

Michael Damianos & Co LLC

Michael Damianos & Co LLC works across all aspects of banking and finance from asset financing, refinancing and debt restructuring through to real estate financing, acquisition financing and corporate financing. It receives a regular flow of instructions from international law firms in relation to the local law aspects of cross-border deals as well as banking work from major Cypriot corporates. Practice head  Michael Damianos and associate Loukia Herodotou garner praise from clients.

Practice head(s):

Michael Damianos

Other key lawyers:

Loukia Herodotou

Testimonials

‘The team is excellent. It is thorough and I have no doubt that the end result will meet the needs of the ultimate client without fail’.

‘Michael Damianos and Loukia Herodotou are both excellent: receptive to comments; and prompt in the delivery of the required product. A pleasure to work with’.

‘Michael and his team are easily approachable, very responsive and quickly provide clear advice (what definitely distinguishes it from other Cyprus law firms). Michael is very pragmatic and provides clear and practical advice (without going into academic discussions as sometimes other law firms do) which really helps to resolve the issues. He is focused on a result’.

‘Michael is just excellent and it’s a great pleasure to work with him’.

‘Michael Damianos started his own firm from ground zero and quickly built it up into a firm of first choice for me. Unlike many of his peers in Cyprus, he is very easy to approach, always maintains complete partner oversight of the transaction and is ready to commit his personal time as a partner to address issues that may arise. It is not often you see a partner this involved in a transaction. At the moment, at least in my opinion, there is no alternative for Michael on the legal market in Cyprus. It is great to see this new player emerging in the market and bringing real competition to well established firms in Cyprus’.

‘Very dynamic team and responsive. ’

‘Very good contact, nice, helpful and experienced people’.

Key clients

Akin Gump Strauss Hauer & Feld

CMS Cameron McKenna LLC

Bird & Bird LLP

Linklaters LLP

Dentons

Watson Farley & Williams

Asters Law Firm (Ukraine)

Hogan Lovells LLP

Simmons & Simmons LLP

Maples Teesdale LLP

Resolute Asset Management (Cyprus) Limited

Rybalkin, Gortsunyan & Partners

Cleary Gottlieb Steen & Hamilton LLP

Papadopoulos, Lycourgos & Co LLC

Papadopoulos, Lycourgos & Co LLC handles a vast array of loan restructuring work and acts for lenders both national and international. Under the leadership of Dimitris Papadopoulos the group is skilled at acting as local counsel in high-value, multi-jurisdictional deals. Antonis Karaolis is another key member of the team.

Practice head(s):

Dimitris Papadopoulos

Other key lawyers:

Antonis Karaolis

Prountzos & Prountzos LLC

Prountzos & Prountzos LLC specialises in receiverships and ship financing transactions as well as other aspects of financings. It acts for a number of international banks and financial institutions and is also adept in establishing Cyprus investment funds and International Collective Investment Schemes. Andria Koukounis and managing partner Charalambos Prountzos are the main contacts.

Practice head(s):

Andria Koukounis

Other key lawyers:

Charalambos Prountzos

Testimonials

‘Responsiveness, problem-solving attitude, in-depth legal knowledge, to-the-point services. We have worked with the firm on different topics and we always receive high-level services and high-quality receivables. Our projects are taken care with the highest attention and the team is always available to provide support. The lawyers are committed and knowledgeable with a positive attitude. What makes the team stand out in the Cyprus market is its flexibility and practicality. The lawyers think out of the box and provide creative solutions’.

‘The main reason  we chose the firm is because of its professional approach, efficiency and also the personal approach which is very hard to find in our days’.

‘With this firm every individual is a 100% professional but also they are very friendly and their approach is unbelievable. The lawyers are vey efficient and give us solutions fast. They are very well educated and besides being professional they have great experience. They visited our offices many times so far which is something that we appreciate a lot’.

‘The firm is part of an international network and this provides assurance with respect to cross-border projects. The attorneys are very diligent, time responsiveness is very high and overall I am very satisfied with the work produced’.

‘The individual attorneys are very business orientated, helpful, diligent and their work is of a high standard’.

 

Key clients

Housing Finance Corporation

National Bank of Greece

Forsteriana Limited

DeltaMark Fund Management Ltd

Exclusive Change Capital Ltd

DeltaMax AIF VCIC PLC

Alpha Bank Cyprus Ltd

Euroasia Interconnector Ltd

ARETHA CAPITAL LIMITED

Work highlights

  • Advised Euroasia Interconnector Limited on the construction contracts and the financing of a €1.5bn subsea electricity interconnector running through Cyprus, Greece and Israel.
  • Advised National Bank of Greece (Cyprus) Ltd on the project financing of  €7.1m for photovoltaic parks.
  • Advised Forsteriana Limited on the acquisition of an NPL portfolio of €3m in value.

Tornaritis Law Firm

Tornaritis Law Firm regularly advises on financing transactions and commercial loans. It also has a specialist license from the Cyprus Stock Exchange as a Nominated Advisor for the Cyprus Stock Exchange Emerging Companies Market and has a strong regulatory compliance department. In addition to its banking and finance practice, the team also represents in a broad range of banking disputes. Alexandros Alexandrou and Criton Tornaritis are among the names to note.

Practice head(s):

Criton Tornaritis; Alexandros Alexandrou; Marios Panayiotou; Anna Abou Shaaban Papaioannou

Key clients

Receivers/managers Of Orphanides Public Co Limited

Cyprus Popular Bank Public Co Ltd In Special Administration

Hellenic Bank Public Company Ltd

Lakatamia Municipality

Bdo Cyprus (Insolvency & Restructuring)

Quantuma Uk & Cyprus

Special Administrator Of Cyprus Popular Bank Public Co Ltd

Fidescorp Limited

Lrc Uk Group

Ellinas Finance Public Company Ltd

Delta Capital Partners Management Llc

Wte Wassertechnik Gmbh

Logera Consulting Ltd

Nest Investments Holdings (Cyprus) Ltd

Ecommbx Limited

Trockland Cyprus

Andreas Christophorides And Associates Llc

L.b. Landbank Properties Constultants Ltd

Work highlights

  • Advising the special administrator of Cyprus Popular Bank on all aspects of the Recovery and Resolution of Credit Institutions and Investment firms Directive and the law implementing the directive in Cyprus (3 BL).
  • Advised Nest Investments Holdings on various aspects of Cypriot law.
  • Advised Cyprus Popular Bank and its special administrator on a dispute created over a leakage claim and arbitration resolution of a dispute process.