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  • Article

    Do You Have A "Change Of Control" In Your Shareholders Agreement?

    In a recent English case, the Court decided that restrictions on shareholders' right to deal with a share shall be clearly stated in pre-emption articles.
    CyprusCorporate/Commercial Law
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    An International Arbitral Award Can Not Be Enforced By The Filing Of A Winding Up Petition Without Prior Registration

    In a recent decision of a Cyprus District Court, it has been decided that an international arbitral award, cannot be used as a basis for the filing of a winding up petition, against the respondent company, before same is recognized and registered in Cyprus pursuant to the New York Convention.
    CyprusCorporate/Commercial Law
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Announcement By The Department Of Registrar Of Companies And Official Receiver In Relation To The Annual Company Fee

    On the 16th of August 2016, the Department of Registrar of Companies and Official Receiver announced that pursuant to the Law 89 (I) of 2015 which amends the Companies Law Cap. 113, companies that do not pay the annual fee...
    CyprusCorporate/Commercial Law
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Company Law – Power Of Court To Rectify The Register Of Members Of A Cyprus Company

    It has been held by Cypriot courts (adopting English case law) that the power of court to order the rectification of a register of members of a company, under section 111 of Cyprus Companies Laws CAP 113.
    CyprusCorporate/Commercial Law
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Enforcement Of Pledge Under Cyprus Law And The Statutory Obligation Of Pledgee, To Give Notice To Pledgor, For Its Intention To Sell The Pledged Shares

    A pledgee, even if the pledge agreement provides that it can proceed to sell the pledged shares, without any prior notice to the pledgor, is obliged under Section 134 of Contract Law CAP. 149...
    CyprusCorporate/Commercial Law
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Locus Standing Of Shareholder To Petition The Winding Up Of His Company, On The Just & Equitable Ground

    Cypriot Courts have used English case law as guidance, on deciding on the above issue, including the following leading cases.
    CyprusCorporate/Commercial Law
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Powers Of Pledgee, Under Cyprus Law

    Under Cyprus Law, a pledgee, in the event of default of the pledgor.
    CyprusFinance and Banking
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    A Norwich Pharmacal Order Is Issued When The Applicant Satisfies The Court That The Information Requested Are Of Vital Importance For The Filing Of The Action Or For Pleading And Proving Its Case And Also That The Applicant Could Not Collect Same From Any Other Source.

    In the case NORDSTAR TOWER –V- RIVERSTRETCH & OTHERS, the district Court of Nicosia held inter alia –(adopting the English case NIKITIN & OTHERS –V- RICHARDS BUTLER LLP & OTHER (2007) All ER 129) that an applicant...
    CyprusLitigation, Mediation & Arbitration
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Aspects To Medical Negligence In Cyprus

    Claims against the hospitals and doctors for medical negligence have risen dramatically following a succession of scandals which have arisen during the past few years affecting the health/endangerment...
    CyprusLitigation, Mediation & Arbitration
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Chabra Injunction And The Test Of "Good Reason To Suppose"

    The Appellate Court, inter alia, decided that the 1st Instant Court applied correctly the test, which was established and developed in English case law, starting with the leading case...
    CyprusLitigation, Mediation & Arbitration
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Cypriot Courts Do Not Have Jurisdiction To Adjudicate On An Application For Enforcement Of Foreign Judgments And Foreign Arbitration Awards When Both Applicant Judgment Creditor And Respondent Judgment Debtor Reside Outside Cyprus

    In the recent Appellate case of VTB BANK -V- TARUTA, the Appellate Court decided that Cypriot Courts do not have jurisdiction under Law 121 (1)/2000 for the enforcement
    CyprusLitigation, Mediation & Arbitration
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Cyprus Courts Have Jurisdiction To Grant Discovery Orders Of A Norwich Pharmacal Type Or Of A Bankers Trust Type, In Aid Of Pending Foreign Proceedings Or For The Commencement Of Future Foreign Proceedings

    Cypriot First Instance Court, decided to issue discovery orders of a Norwich Pharmacal type and a Bankers Trust type, against a Cypriot Bank, to assist the Plaintiffs, who were allegedly, the victims of wrongdoings.
    CyprusLitigation, Mediation & Arbitration
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Cyprus: The Duty Of Disclosure At An Ex Parte Hearing Extends Also To Without Prejudice Correspondence

    In a recent decision of the Cypriot Court of Appeal in COMMERZBANK –V- ADEONA, it has been inter alia held that the duty of disclosure of an applicant to an ex parte application...
    CyprusLitigation, Mediation & Arbitration
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Issuance Of Electronic Disclosure By The Cypriot Courts

    The issuance of a Norwich Pharmacal Order for the disclosure of documents and information, is an important tool in the hands of litigants because it permits a claimant to obtain information...
    CyprusLitigation, Mediation & Arbitration
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    The Strict Approach Of The Provisions Laid Under The New York Convention On The Enforcement Of Foreign Arbitral Awards

    In the recent case of Ukrainian Vodka Company Ltd v Nemiroff International Limited,the Applicant requested an order of the Court permitting the enforcement of two Arbitral Awards...
    CyprusLitigation, Mediation & Arbitration
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Vacancy Of A Position In The Public Sector Does Not Revive The Previous Announcement Of The Said Position

    n a recent decision in Appeal to a decision of the Administrative Court No. 24/2018, the Supreme Constitutional Court exercising its appellate jurisdiction based on the Transitional provisions Article...
    CyprusLitigation, Mediation & Arbitration
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Warrant Of Search Issued Against A Lawyer Cancelled Due To Violation Of Legal Professional Privilege

    In the recent case RE: ANTONAKIS ANDREOU & CO LLC, a Supreme Court Judge, in Certiorari proceedings, cancelled a warrant issued against a lawyer and his law firm...
    CyprusLitigation, Mediation & Arbitration
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    Cyprus – Immovable Property

    One of the major problems that Cyprus faces throughout the years is the inability of property buyers to obtain Title Deeds as a result of developers who have previously mortgaged the land on which the property was built.
    CyprusReal Estate and Construction
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    The Amended Law On Specific Performance Relating To Property Sales

    Recently, the law of Specific Performance relating to Property Sales of 2017 has entered into force and has amended article 12 of the Law of 2011 and 2012...
    CyprusReal Estate and Construction
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C
  • Article

    An Update Of The European Criminal Records Information System

    An efficient exchange of information on criminal convictions referred to as the European Criminal Records Information System has been introduced between Member States in order to help improve the security of citizens...
    European UnionCriminal Law
    Soteris Pittas & Co L.L.C
    Soteris Pittas & Co L.L.C

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