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On 02/08/2019, the Parliament has passed the Transfer and Mortgage of Property (Amending) (No. 4) Law of 2019 (the "Amending Law of 2019")

We are pleased to announce that managing partner Angelos Paphitis and senior associate Myrianthi Papagianni co-authored the Legal 500 Cyprus Restructuring & Insolvency Country Comparative Guide 2024.

In the context of the Appeal under number E223/21, the Appellants filed an application to amend the title of the Appeal requesting the replacement of the Special Administrator with the Liquidator.

The Insolvency Practitioners Law, 64(I) of 2015 was published in the official gazette on 7 May 2015.

Winding up is the process by which the company's assets are realized, the proceeds are distributed to its creditors and the surplus, if any, to its members.

Under section 227 of the Companies Law (Cap. 113), the Court may, after the filing of a winding-up petition and before the issuance of a winding-up order...

The Supreme Court of Cyprus decided that a holder of an International Arbitral Award not yet registered under the New York Convention cannot be regarded as a "Creditor".

Prior to independence, Cyprus was a British colony and much of its legal system derives from English law.

In the recent judgment in Re SARE Public Company Limited, Petition 554/2017, 19/05/2023, the District Court of Nicosia ordered the involuntary winding-up of a Cyprus company on grounds of fraud.

The Republic of Cyprus has a national system of justice which is enforced uniformly throughout the government-controlled area of the country.

Distressed companies are those facing financial crises not resolvable without a considerable recasting of the firm's operations, structures and finance.

In the context of Cyprus' personal insolvency law (Cap. 5/the "Law"), the concept of mutual set-off plays a crucial role in the settlement of debts and credits between...

On 18 April the Cyprus parliament approved a new package of insolvency laws, aimed at streamlining and modernising the existing system and promoting a rescue culture.

On 18 April the Cyprus parliament approved a new package of insolvency laws, aimed at streamlining and modernising the existing system and promoting a rescue culture.

On 29 March 2023 the European Commission published a proposal for a new directive aimed at expanding and upgrading the use of company law digital tools and processes...

In the realm of corporate finance and insolvency, the appointment of receivers and administrators plays a critical role in managing distressed companies in Cyprus...

The deprivation principle, as derived from the authorities is that "there cannot be a valid contract that a man's property shall remain his until his bankruptcy, and on the happening of that event, go over to someone else and be taken away from his creditors".

Employing some 2,000 drivers and packers on the supply end and 1,250 for the company, the supermarket chain was deemed the largest one in Cyprus, once considered too big to fail. Orphanides Public Company Ltd has now been declared insolvent.