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ARTICLE · 27 OCTOBER 2020

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Litigation Success | AGP Secures $1.4 Billion Interim Order

AGPLAW | A.G. Paphitis & Co. LLC
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On 29 September 2020, following an ex-parte (without notice) application filed into the District Court of Limassol...

CyprusCorporate/Commercial Law
Angelos Paphitis
Angelos Paphitis
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Prohibitory Injunction preventing Cypriot shareholders in an OJSC in Russia from voting during AGM.

On 29 September 2020, following an ex-parte (without notice) application filed into the District Court of Limassol, our Client, represented by Mr Angelos Paphitis and Mrs Eve Karaviotou, was successful to have obtained an Interim Prohibitory Injunction against two (2) Cyprus companies, prohibiting them from exercising their voting rights during an annual general meeting (AGM) of an Open Joint Stock Company (OJSC) in Russia.

What's interesting about this case is that (a) the prohibitory injunction obtained in Cyprus was filed in aid and support of arbitration proceedings filed at the London Court of International Arbitration (LCIA), in the UK, against an indirect shareholder of the two Cypriot companies / respondents in Cyprus; and (b) the two Cypriot respondent companies are not parties to the LCIA arbitration process.

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