Litigation Success – Interim Receiver/Manager Appointed Ex-Parte

AGP Corporate Litigation Team, headed by Angelos Paphitis, succeeded  before the District Court of Limassol on the 5th of June 2015. 

A Derivative action has been submitted by the Plaintiff – a 50% shareholder of a Cyprus holding company - for the purpose of protecting and preserving the assets of a Cyprus company, those being 4 Cyprus subsidiaries and 27 foreign subsidiaries.  

Interim Orders – Prohibitory Injunctions and Appointment of an Interim Receiver/Manager

Together with the above Derivative action an interim petition has been submitted ex-parte (i.e. without notice to the defendants) whereby the Plaintiff has requested interim orders of the court as follows:

• An interim receiver/manager to be appointed in order to secure and protect the group's assets, and