Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 24 JANUARY 2014

Interim Orders Regarding Disputed Share Pledges

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
Contributor
Elias Neocleous & Co LLC

Elias Neocleous & Co LLC

Elias Neocleous & Co LLC (ENC) is among the largest firms in southeast Europe and the Eastern...

View firm profile
Explore more from Elias Neocleous & Co LLC

Pledges of shares are frequently encountered in Cyprus holding and finance structures.

CyprusFinance and Banking
Costas Stamatiou
Costas Stamatiou
Author LinkedIn connections

Pledges of shares are frequently encountered in Cyprus holding and finance structures. The recent case of Symeou v VTB Bank (Open Joint-Stock Company)1 concerned a dispute regarding the enforcement of such a pledge.

Requirements for a valid pledge

The Contract Law (Cap 149) provides that, in order to be valid and enforceable, a contract of pledge of share certificates in a company as security for the payment of a debt or performance of a promise must be:

  • expressed in writing;
  • signed at the end by the pledgor; and
  • made in the presence of at least two witnesses who themselves are competent to contract, and subscribed by them with their names as witnesses.

In addition, a pledge of share certificates for shares in a company transferable other than by delivery will not be valid and enforceable unless, in addition to the above:

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

MiCA’s Transition Ends On 1 July 2026. Is Your Crypto Business Authorised To Continue?

The EU's Markets in Crypto Assets Regulation (MiCA) transitional period expires on 1 July 2026, marking a critical deadline for crypto-asset service providers operating in Europe. Without proper MiCA authorisation by this date, businesses must cease operations and implement orderly wind-down procedures, as pending applications do not grant permission to continue providing services. This comprehensive analysis examines the regulatory requirements, compliance obligations, and strategic considerations for cryp
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

Can Cyprus Become A True Fintech Banking Hub?

Cyprus is evolving from a jurisdiction that simply attracts fintech licenses to one building genuine European fintech infrastructure. With new regulatory frameworks including PSD3, DORA, and MiCA converging, the country faces a critical question: can it develop the banking relationships, payment systems access, and institutional depth required to transform licensed entities into a truly interconnected financial ecosystem?
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

High-risk Business Incorporation: Structuring iGaming, Crypto And Adult Industry Companies The Right Way

Launching a high-risk business in sectors like iGaming, crypto, fintech, or adult entertainment requires strategic corporate structuring from the outset. This comprehensive guide examines how jurisdiction selection, ownership transparency, payment flows, and compliance preparation directly impact licensing approval, banking access, and long-term operational stability in heavily scrutinized industries.
CyprusFinance and Banking
Michael Chambers & Co LLC
Michael Chambers & Co LLC
Article

Jenec: The Limits Of Automatic De-Risking In EU Banking Law

On 11 June 2026, the Court of Justice of the European Union (the “Court”) delivered its judgment in Case C-81/24, Jenec. The case concerned the relationship between the right of access to a payment account with basic features under Directive 2014/92/EU (the “Payment Accounts Directive”) and the AML/CFT obligations imposed on financial institutions under Directive (EU) 2015/849 (the “AML Directive”).
CyprusFinance and Banking
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
Article

From Cybersecurity To Supply Chain Sovereignty In CSA2: The Spotlight On Suppliers

In January 2026, the European Commission unveiled its plan to overhaul the EU's Cybersecurity Act, a proposal now known as CSA2. It's the natural next step in a story that began years earlier with the EU's 2020 "5G Security Toolbox" - a set of voluntary recommendations encouraging Member States to be cautious about certain telecom suppliers. That voluntary approach produced patchy results: by most accounts, fewer than half of EU countries had actually acted on those recommendations. It is worth asking whether the adoption levels were however a failure of design, or a reflection of Member States reaching different conclusions about their risk exposures.
CyprusTechnology
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC