Sanctions Compliance in Cyprus: Guide to the National Sanctions Implementation Unit (ΕΜΕΚ – NSIU)
Purpose and Legal Framework Law 150(I)/2025 establishes the National Sanctions Implementation Unit (NSIU) within the Ministry of Finance to ensure the effective application of: Restrictive measures of the EU (based on Article 215 TFEU), UN Security Council sanctions (under Chapter VII of the UN Charter), National Sanctions (see Part VI of the Law). It responds …
Preserving Assets and Justice: Interim Orders in Cyprus Explained
Obtaining Interim Relief in Cyprus Cyprus is a premier jurisdiction for obtaining interim relief, with a robust legal framework that caters to both domestic and international disputes. This guide explores the extensive array of interim orders available in Cyprus, including their legal foundations, procedural requirements, and practical applications. Whether you are a foreign lawyer or …
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Cyprus Court Dismisses $50M Order in Crypto Tokenization Dispute
Economou & Co LLC, together with leading counsel Marcos Dracos KC, successfully represented eight defendants in the first major case before the Cypriot Courts involving crypto tokenization in commodity trading. The claimants had obtained an ex-parte freezing order against several defendants. Following full adjudication, the District Court of Limassol dismissed the application and discharged the freezing …
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Historic Judgment: Arbitral Award Recognized Against Sovereign State in Cyprus
We are pleased to announce a significant victory in our international arbitration and enforcement practice. In a judgment issued on 14 July 2025, the District Court of Nicosia recognized and declared enforceable a foreign arbitral award of approximately USD 19 million against a sovereign state. This case is of particular legal significance, marking the first …
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Economou & Co LLC Achieves Landmark Mareva Injunction Against State
In a notable recent success, our arbitration team obtained a Mareva injunction (prohibitory order) against a state, marking a significant victory in a multi-million-dollar dispute.
Economou & Co LLC Secures Significant Victory in Corporate Litigation Case
Economou & Co LLC is pleased to announce a significant victory achieved by our Corporate Litigation team in a high-stakes case involving our client, a prominent investment firm, supervised by the Cyprus Securities and Exchange Commission.
Economou & Co LLC Secures Landmark Judgment in EUR 40 Million Insolvency Case
Economou & Co LLC has successfully represented a renowned financial institution in a pivotal insolvency case, securing validation of a claim exceeding EUR 40 million.
Distinguishing Between Civil and Criminal Law: A Landmark Decision in Nicosia
Legal practitioners often face the challenging task of distinguishing between civil and criminal law—a distinction that is not always clear-cut.
Win for Cross-Border Judgment Enforcement in Cyprus
In a notable judgment issued by the District Court of Nicosia last Monday, the Court granted a payment order in support of the enforcement of an Austrian judgment debt.