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  • Article

    The New EU Directive 2015/2436 For The Approximation Of The Laws Of Member States Relating To Trade Marks

    Although the amendments to the Trade Marks Law CAP. 268 (as amended) which transpose the New EU Directive on Trade Marks [Directive (EU) 2015/2436] have not yet been published, Cyprus is really close to finalizing ...
    CyprusIntellectual Property
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    e-Disclosure Order Versus MetaQuotes Software

    The Cyprus Court delivered a judgment on 29 July 2016 ordering electronic disclosure against MetaQuotes Software, the well-known Forex trading platform, the first of its kind in Cyprus!
    CyprusLitigation, Mediation & Arbitration
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Electronic Disclosure Against MetaQuotes – Stay Motion Denied

    We have early advocated that the Supreme's Court judgement where a stay for Norwich Pharmacal Order was granted in favour of the Plaintiff pending appeal, did not formulate a solid precedent.
    CyprusLitigation, Mediation & Arbitration
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Nominee Shareholders - Valid Trusts Arrangements Or A Mere Façade?

    First to be explored is the legal nature of the so called "nominee shareholder".
    CyprusCorporate/Commercial Law
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Effective Commercial Litigation: Order For The Appointment Of Interim Receiver / Manager

    Transposing into reality our firm's motto "Deeds not Words" and as another example of innovative and effective litigation acting on behalf of the Plaintiff in a complex shareholders' dispute (involving breach of contract, tortious interference, breach of fiduciary duties and declaratory judgment claims) against opponent seeking to undermine client's position and prior orders issued by the Court, our law firm has obtained an order, on 17 September 2015, an ex parte basis by the District Court of
    CyprusLitigation, Mediation & Arbitration
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Enforcement Of An Arbitration Agreement; Stay Of Winding Up Petition Granted

    The question of the extent to which shareholders can contract out of company law has long been a matter of controversy. It has been widely accepted that the statutory right of a shareholder of a limited liability company to petition the winding up of the company is not arbitrable.
    CyprusLitigation, Mediation & Arbitration
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Insolvency Law Landmark Precedent; Winding Up Of Orphanides Public Company Ltd

    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.
    CyprusInsolvency/Bankruptcy/Re-Structuring
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    e-Disclosure Order Versus Metaquotes The Evolution Of Norwich Pharmacal Order

    The Supreme Court of Cyprus upheld on 14 November 2018 the 1st instance judgment ordering electronic disclosure against MetaQuotes Software...
    CyprusLitigation, Mediation & Arbitration
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    An Arbitral Award Cannot Be Made Subject Matter Of A Winding Up Petition

    A foreign judgment or an arbitral award has no immediate effect in Cyprus. A procedure must be followed in order to enforce the foreign judgment.
    CyprusInsolvency/Bankruptcy/Re-Structuring
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Illegal Use Of Documents Within The Context Of Civil Proceedings

    During the last years, Cyprus Courts repeatedly dealt with the issue of disclosed documents being held and used not for the purpose the documents were obtained...
    CyprusLitigation, Mediation & Arbitration
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Undertaking Before The Court Strong And Binding? Answer Reaffirmed In The Affirmative

    In a case currently under trial by the District Court of Nicosia, the plaintiffs in the action had initially filed an ex parte application by which they obtained ex parte a Norwich Pharmacal Order against a Bank, ...
    CyprusLitigation, Mediation & Arbitration
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Nominee Shareholder's Breach Of Trust "The Strings Of The Marionette Have Been Cut" – Part 2

    Exploring the related issues we had indicated that our firm had launched legal proceedings against, among others, a nominee shareholder unwilling to co-operate with the beneficial owners...
    CyprusCorporate/Commercial Law
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Nominee Shareholder "Cutting The Strings Of The Marionette"

    The facts preceding the above proceedings, although complicated, can provide a better understanding of the case and the gist of the Court's approach in the interim judgment.
    CyprusCorporate/Commercial Law
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Automatic Exchange Of Information (AEI)

    The international movement to end banking secrecy has gained new momentum with the enactment in the United States of its 2010 Foreign Account Tax Compliance Act or FATCA.
    CyprusFinance and Banking
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Fincen Issues Final Rule Imposing A Prohibition On The Opening Or Maintaining Of Correspondent Accounts For Or On Behalf Of, FBME Bank Ltd.

    On August 27, 2015, the United States District Court for the District of Columbia granted FBME's motion for a preliminary injunction and enjoined the Final Rule from taking effect.
    CyprusFinance and Banking
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Rules Of Jurisdiction Under Cyprus Law

    The European Union in 2000 adopted the Council Regulation (EC) No 44/2001 on jurisdiction and the recognition and enforcement of judgments in court cases.
    CyprusGovernment, Public Sector
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Cyprus Rules Of Jurisdiction

    The European Union in 2000 adopted the Council Regulation (EC) No 44/2001 on jurisdiction and the recognition and enforcement of judgments in court cases.
    CyprusLitigation, Mediation & Arbitration
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Nominee Shareholder's Breach Of Trust: Cutting The Strings Of The Marionette

    In a previous publication exploring the related issues we had indicated that our firm had launched legal proceedings against, among others, a nominee shareholder unwilling to co-operate with the beneficial owners of the shares.
    CyprusCorporate/Commercial Law
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    Banks' Resolution Regime – Formulating The Law Through Successful Litigation

    The financial crisis in Cyprus resulted among others in the introduction of the Insolvency Framework, comprising of a package of six bills of legislation that came into force on the 07/05/2015.
    CyprusFinance and Banking
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates
  • Article

    "Free Standing" Injunctions – Cyprus Law Matters

    Cyprus Courts have jurisdiction to issue stand-alone injunctions in aid of Court proceedings, pending before Courts of Member States of EU (except Denmark) pursuant to Regulation...
    CyprusLitigation, Mediation & Arbitration
    P. N. Kourtellos & Associates
    P. N. Kourtellos & Associates

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