Firm Profile > Scordis, Papapetrou & Co LLC > Nicosia, Cyprus

Scordis, Papapetrou & Co LLC
30 KARPENISI STREET
PO BOX 20533
1660 NICOSIA
Cyprus

Dispute resolution Tier 3

Scordis, Papapetrou & Co LLC frequently receives instructions from major international law firms on various high-value matters. Particular strengths lie in freezing and disclosure orders and all aspects of civil fraud claims. It is also recommended for its considerable experience in all aspects of civil litigation. The team is co-led by Kyriacos ScordisConstantinos Adamides, Christos Scordis, Andreas Michaelides, Penelope Papapetrou and Alexandros Gavrielides. The team ‘stands out due to its enormous depth of experience and its very clever partners’ who are adept at handling multijurisdictional disputes.

Practice head(s):

Kyriacos Scordis; Christos Scordis; Alexandros Gavrielides; Constantinos Adamides; Penelope Papapetrou; Andreas Michaelides

Testimonials

‘Excellent combination of high quality legal skills and commercial acumen; seamless cooperation between Scordis Papapetrou Co LLC and its associates in multiple jurisdictions gives our clients an advantage when embroiled in multijurisdictional dispute resolution, especially those involving litigation. Kyriacos Scordis – excellent legal skills and business acumen- supreme legal strategist Constantinos Adamides – excellent legal skills and client-orientated service; tenacious approach to all cases ’.

Stands out due to its enormous depth of experience and its very clever partners’.

‘Very good disputes team and high quality partners. Alexandros Gavrielides – exceptional disputes partner; very attentive to detail, hands on and experienced. Constantinos Adamides – solid corporate and litigation lawyer with deep understanding of the issues and facts’.

‘Hardworking, diligent and very high level of expertise. Additionally good understanding of the differences / similarities between the Cypriot court and the English court.’

‘Alexandros Gavrielides is a pleasure to work with – he works extremely hard and has excellent knowledge and legal expertise, and a great team around him to assist and scale up when required’.

‘When it comes to disputes, it is better than anyone else in Cyprus. The problem with most disputes firms in Cyprus is that the majority of them are a “one man show”, i.e. one savvy partner surrounded by a number of associates. Obviously, the partner cannot handle all instructions at once, so he is forced to assign important bits of work to the associates who are not equally able. That’s when the quality of work begins to suffer. At Scordis, the partners are always hands-on’.

‘Kyriacos Scordis is definitely the superstar at the firm. We have worked with him for over 20 years, and his expertise and cleverness never ceases to amaze.’

‘The lawyers are very responsive to their client’s needs, work extremely hard to achieve the desired outcome and have a terrific understanding of what the Court will and will not order’. 

‘Constantinos Adamides is excellent and is clearly seen by clients as someone on whom they can rely and trust’.

Key clients

Alexander Filippovich Shchukin

M. Athinodorou Holdings Limited

MN Larnaca Desalination Co Ltd, MN Limassol Water Co. Ltd

Parklane Hotels Limited

Dmitry Tsvetkov and Elsina Khayrova

Joint Stock Company Commercial Bank “PRIVATBANK”

JSC BTA BANK

Hellenic Bank Public Company Limited

Bank of Cyprus Public Company Limited

Alpha Bank Limited

Logicom Public Limited

NewCytech Business Solutions Limited

Commercial, corporate and M&A Tier 4

Scordis, Papapetrou & Co LLC receives instructions from multinational corporations and international law firms on transactional matters and is also adept at handling contentious issues. It has particular experience in debt restructuring, mergers and shareholder agreements. Senior partner Christos Scordis is well regarded and Constantinos Adamides advises a portfolio of corporate clients and high-net-worth individuals when they are seeking to invest in Cyprus. They co-lead the team with Kyriacos Scordis, Makis Chrysomilas, Matheos Papapetrou and Andreas Michaelides.

Practice head(s):

Kyriacos Scordis; Christos Scordis; Makis Chrysomilas; Constantinos Adamides; Matheos Papapetrou; Andreas Michaelides

Other key lawyers:

Victoria Economou

Testimonials

‘The lawyers have a high level of professionalism and expertise. They approach issues in a rounded and practical manner, working their way around problems instead of being stymied by them and offering sound and dependable advice and solutions. The team works long hours to meet our deadlines and recognises important issues or pitfalls often early on in a transaction allowing for a timely resolution. Kyriacos Scordis, Christos Scordis and Victoria Economou’.

‘Solid Cyprus law counsel’.

‘Constantions Adamides – very hands on and digs into details’.

‘The team is very professional and can cover all the issues for a Cyprus based business’.

‘Mr. Constantinos Adamides – we are fully satisfied with his support and engagement’.

‘The lawyers are prompt and accommodating to our requests’.

‘We have been working mainly with Makis Chrysomilas. He is always available and tries always to find the best solution ’.

Key clients

Demetra Holdings PLC (formerly Demetra Investments Public Ltd)

House of Hiranandani Group

High Tech Cloud Based software company

Integrated Casino Resorts Cyprus Ltd

Parklane Hotels Limited

Errante Global Services Limited

Bosti Trading Ltd

The firm: Scordis, Papapetrou & Co was established in 1973 as a result of the merger of the practice of its founding members, Andis Scordis and Michalis Papapetrou. In 2011 the firm merged with Adamos K. Adamides & Co and in 2018 with Michaelides & Michaelides (one of the oldest law firms in Cyprus, established back in 1922 by the late Andreas G Michaelides in Famagusta).

Building on the first successful merger and the co-founding in 2012 of SPA Financial Services Ltd, a successful licensed financial services company, the latest merger further enhances the multi-faceted practice of the firms, creates synergies and joins practices, as well as lawyers and other professionals, who share a common culture and vision, a reputation for excellence and creates a firm with nearly two centuries, in the aggregate, of history, practice and expertise.

Scordis, Papapetrou & Co refers to the legal practice and the consultancy and associated services practice of V & Co LLC (a regulated lawyers’ limited liability company, Reg. no.003), V & Co (Corporate Services) Ltd and Scordis, Papapetrou & Co Consultants Ltd (Malta) (regulated fiduciary – corporate services providers), JSC Scordis, Papapetrou & Co (Russia), SPA (Financial Services) Ltd (a regulated financial services company) and their affiliated businesses, each a separate legal entity and, together with other entities, each a member of Scordis, Papapetrou & Co International. In accordance with the common terminology used in professional organisations, reference to an ‘office’ means an office of any such member.

The firm now comprises 36 advocates and legal consultants, 16 in-house qualified professionals of related disciplines and around 55 paralegal, administrative and other personnel.

Offices in: Nicosia, Limassol, Moscow, Athens and Valletta.

Areas of practice: The firm provides a comprehensive range of services through lawyers and qualified professionals from other disciplines, with particular expertise in:

Company and commercial law matters: the firm has acted or advised on a multitude of multi-million financial transactions, most with a cross-border element, and the provision of specialised advice on a variety of corporate and commercial matters forms part of its day-to-day practice. Such matters include shareholder agreements, mergers and acquisitions, venture capital and real estate investments, joint ventures, escrow arrangements, reorganisations and other complex commercial projects.

Domestic and international litigation: apart from its long-standing strong general domestic litigation practice which includes acting on behalf of banks and other financial institutions, municipalities, public bodies, companies and individuals, the firm has established a ‘beyond the borders’ reputation having acted, instructed or advised in relation to international multi-million claims resulting in litigation in Cyprus, the US, UK, BVI, Switzerland, Russia, Greece or arbitration in Cyprus, London (LCIA), Zurich (ZCC), Stockholm (SCC), International Court of Arbitration (France), International Chamber of Commerce and Moscow (ICAC). The international practice includes numerous highly publicised and hotly contested litigation and arbitration cases.

Company and tax structuring, provision of corporate services: the firm is a leader in the field of company and group structuring, including tax advisory, tax planning, formation and in the establishment and organisation of structures for international investments. A wide range of services, including corporate, tax and VAT advisory, accounting, secretarial, banking support, escrow and trusteeship services, is provided by Scordis, Papapetrou & Co (Corporate Services) Ltd and other group entities through in-house tax consultants, accountants and other qualified professionals who deal with the day-to-day needs of the firm’s clients.

Department Name Email Telephone
Corporate, Mergers and acquisitions Kyriacos Scordis
Corporate Matheos Papapetrou
Mergers and acquisitions Christos Scordis
Banking and finance Penelope Papapetrou
Litigation/dispute resolution Christos Scordis
Litigation/dispute resolution Constantinos Adamides
Litigation/dispute resolution Alexandros Gavrielides
Litigation/dispute resolution Penelope Papapetrou
Shipping and admiralty Matheos Papapetrou
Fiduciary / Administrative Services Makis Chrysomilas
Corporate and Commercial Law Sofia Tryfonos Avraam
Shipping and admiralty Sofi Mylona
Tax Advisory Kyriacos Scordis
Tax Advisory Christos Scordis
Investment immigration Makis Chrysomilas
Investment immigration Christos Scordis
Trusts Christos Scordis
Immovable property Penelope Papapetrou
Competition/european Kyriacos Scordis
Competition/european Alexandros Gavrielides
Labour and employment Michalis Marcou
Public procurement and administrative Alexandros Gavrielides
Public procurement and administrative Constantinos Adamides
Public Companies / Stock exchange Omiros Klappis
IT and telecommunications Dr Michael Frendo
Intellectual property Dimitris Spiliotis
Photo Name Position Profile
 Nora Chrysomila  photo Nora Chrysomila Senior Associate
 Makis Chrysomilas  photo Makis Chrysomilas Partner
 Victoria Economou  photo Victoria Economou Associate
 Julie Economou  photo Julie Economou Limited Partner
 Mikaella Eftychiou  photo Mikaella Eftychiou Associate
 Alexandros Gavrielides photo Alexandros Gavrielides Partner
 Korina Hadjigeorghiou  photo Korina Hadjigeorghiou Senior Associate
 Alexandra Holek photo Alexandra Holek Associate
 Michalis Marcou photo Michalis Marcou Senior Associate
 Phoebe Papageorgi  photo Phoebe Papageorgi Associate
 Matheos Papapetrou photo Matheos Papapetrou Partner
 Penelope Papapetrou  photo Penelope Papapetrou Partner
 Michalis Papapetrou  photo Michalis Papapetrou Consultant, Founding Partner, Scordis, Papapetrou & Co LLC
 Michael Peck photo Michael Peck Associate
 Christos Scordis photo Christos Scordis Partner
 Kyriacos Scordis  photo Kyriacos Scordis Managing Partner
 Andis Scordis  photo Andis Scordis Of-Counsel, founding partner of Scordis, Papapetrou & Co
 Dimitris Spiliotis  photo Dimitris Spiliotis Associate
 Danae Stefanou  photo Danae Stefanou Associate
 Sofia Tryfonos Avraam  photo Sofia Tryfonos Avraam Limited Partner
 Katerina Yiapana  photo Katerina Yiapana Associate
Number of lawyers : 30
at Nicosia office : 19
at Limassol office : 11
English
Greek
Russian
Other offices : Limassol
Other offices : Athens
Other offices : Moscow
Other offices : Valletta

Kyriacos Scordis, Managing Partner

What do you see as the main points that differentiate SCORDIS, PAPAPETROU & CO LLC from your competitors?

At SCORDIS, PAPAPETROU & CO LLC we like to excel especially when the going gets tough; whether it is dealing with acrimonious (local or international) disputes, difficult M&As or handling challenging client affairs in difficult times. At present as the global economy is being hammered by Covid-19, clients will seek to engage lawyers who can meet the challenge. I strongly believe that the breadth and depth of our firm’s expertise coupled with our energetic and adaptive teams and ethos sets us apart and allows us to be a forerunner in any challenge.

We align the services of our firm with the demands and interests of our clients. We are innovative and we have the capability, resources and willingness to embrace new ways of doing things for the benefit of our clients in changing times. This has proved to be a winning formula in extraordinary times, such as the period of dissolution of the Soviet Union, world economic crisis of 2008-2009 and the banking crisis which ensued in Cyprus in 2013. We are confident that it will continue to be a winning formula during this Covid crisis.

Our firm is small by global standards but has a global perspective. This allows us to get intimately involved with and to understand our clients’ business in depth whether big or small, local or international and to use our size, flexibility and expertise to our clients’ maximum advantage. Our core characteristics are an individual client-need-adapted service and a relentless commitment to advance our clients’ business by providing solid solutions with loyalty and respect. We focus our service on things our customers value, we build strong cooperations, and we innovate in the pursuit of client success.

Thus, we have built and provide a multi-disciplinary practice in house, as well as collaborate seamlessly with other professionals (service providers/ bankers/ professionals in industry) both in the local and international markets with the aim of tackling problems and providing a comprehensive professional all round service to our clients in a world where artificial divides separating services/industries are becoming increasingly blurred.

Which practices do you see growing in the next 12 months? What are the drivers behind that?

At the moment there is a focus on Covid-19 affected areas (such as shutdowns / compensations / damage mitigation / labour law issues) but we expect that this will continue in the post Covid-19 era when businesses will need to adapt to the new market demands and needs, such as:

Distressed Asset Sales / Financing

M&A in the retail sector

Dispute Resolution (especially to address supply chain disruptions / business failures)

Debt restructuring

Nationalisations / Governmental bailouts

Labour disputes / employment law

What’s the main change you’ve made in the firm that will benefit clients?

Increasing use of technology, both in terms of communications, collaboration, work ethics and security. Technology has allowed us to develop synergies and pool and utilise our knowledge base more effectively. In addition, we are following the international trend of multi-disciplinary practices and have put together multidisciplinary teams or created multi-disciplinary task forces / collaborations both locally and on an international level. This allows clients to engage us on a one-stop-shop basis in relation to various tasks, and have the benefit of unitary, uniform and synchronised response to their affairs and requests.

Is technology changing the way you interact with your clients, and the services you can provide them?

Technology, in all its forms over the last few decades, is a concept that is well understood by our firm and implemented at a very early stage. We welcome and embrace new technology and processes, whether it is automation, computerisation, digitalisation or artificial intelligence. Access to data driven information has been fundamental to the way that our firm functions in order that we have access to faster data and information analysis. We continuously adjust our sevices with technology at the core for the benefit of servicing our clients, often possessing services and tools before our clients have implemented equivalent solutions.

As an example, in response to the Covid-19 crisis we rolled out our business continuity plan that included off site operations and remote access, equipped many of our staff (not only key persons) with portable devices, enabled remote access with enhanced security safeguards and robust online collaboration tools. At the same time, we approach technology with requisite respect, paying particular attention not only to the benefits but the risks preferring trusted, robust solutions that are secure and adhere to industry best practices as opposed to open source or cheap and untested alternatives.

At the same time technology has made the availability of public source information more accessible to both lawyers and clients alike. In turn, accessibility has also meant that clients are more focused / knowledgeable and more demanding in their requests, who in turn are more appreciative of law firms such as ours with the breadth, depth, specialisation and expertise to handle such more- informed requests.

Can you give us a practical example of how you have helped a client to add value to their business?

Part of our daily routine involves adding value to our client’s matters. For example, in a labour law case involving a very well-known Cypriot financial institution, our advice to limit our client’s exposure to claims or demands, run counter to the advice of in-house and multiple external lawyers but was upheld by the Court when challenged with a resulting benefit worth millions to the institution as well as avoidance of public embarrassment in relation to what was a particularly publicity sensitive arrangement. Limiting exposure or extracting commercial benefits exist in all areas we advise on and represents one of our primary objectives, be it M&A, litigation, corporate/commercial, shipping, tax, intellectual property or others.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

Basing a decision on a solid legal foundation is the starting point of any commercial decision. We therefore strongly recommend that clients involve their lawyers early on in any decision-making process, while at the same time advocating that any lawyer must remain independent and objective. Obviously it is not for lawyers to comment on commercial strategies or to take commercial decisions, but the engagement of an experienced and seasoned lawyer, who combines the benefit of g a strong legal background and experiences in the sector can and often does allow the identification and rectification of issues, or changes of strategy and commercial direction earlier and more effectively (in all respects) than a less proactive approach (of only engaging a lawyer once a problem arises).

In the aftermath of Covid-19 and the resulting market shock, as well as the inevitable cost and budget cutting, we see our firm consolidating its client base and securing more engagements from clients who wish to have solid and reliable advice from lawyers they can trust and who can draw on the benefits of a wide multi-disciplinary practice. We also see a further consolidation of the sector, as well as the inevitable collapse of practices who are over-reliant on particular sectors of the economy.