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ARTICLE · 27 SEPTEMBER 2022

Litigation Success | Commercial Dispute

AGPLAW | A.G. Paphitis & Co. LLC
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AGPLAW | A.G. Paphitis & Co. LLC

AGPLAW | A.G. Paphitis & Co. LLC

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We are thrilled to announce yet another Litigation success in the field of commercial disputes. On 19 July 2022, we have successfully obtained a judgment by consent, in favour of our client...

CyprusLitigation, Mediation & Arbitration
Angelos Paphitis
Angelos Paphitis
Evripidis Michaelides
Evripidis Michaelides
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Litigation Success | Termination of a Sale Purchase Agreement and Order for returning money paid

We are thrilled to announce yet another Litigation success in the field of commercial disputes.

On 19 July 2022, we have successfully obtained a judgment by consent, in favour of our client, a Chinese investor who invested in real estate in Cyprus, and against a Cypriot land development company, for the cancellation of a Sale and Purchase Agreement through which our client has purchased, an off plan over €2 million villa in Cyprus.

Through particular provisions included in the Sale and Purchase Agreement ("SPA") our client, a Chinese investor, had the opportunity to request cancellation of the sale and the return of 100% of all money paid, all paid in advance during the time when the Cyprus Investment Program was still in operation. Following the Cyprus Investment Program's termination our client's application for naturalisation was rejected. Our client was

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