Insights
Insightful Perspectives with Meaningful Impact
Cyprus updates legislation on recovery and resolution of credit institutions and investment firms
Introduction The Cyprus House of Representatives has approved two legislative amendments to align national laws with EU directives on the recovery and resolution of credit institutions and investment firms. These developments are part of a - Read More...
Parliament has passed the new framework for credit managers and credit purchasers to align with European Directive 2021/2167
By a majority vote, Parliament has enacted a legislative package to align national law with European Directive 2021/2167, which establishes a unified framework for credit servicers and purchasers. The legislation aims to facilitate the creation - Read More...
Supreme Court Directive on adjudication of claims related to credit facilities
The Supreme Court issued a directive on July 26, 2024, stating that for cases arising from or related to credit facilities, a relevant notice must be submitted to the registry of the court where the - Read More...
Judgment of the Court of Appeal regarding trapped buyers
The judgment addresses whether the decision of the Director of the Land Registry to transfer the property in the name of a trapped buyer and release the mortgage is consistent with the Constitution.
Judgment of the Court of Appeal regarding the amount due and interest on Notice type IA
The judgment deals with the content of Notice type IA in relation to the specification of the amount due and the interest.
Injunctions suspending demands on performance bonds and bank guarantees
Performance bonds and bank guarantees are vital in ensuring smooth commercial operations. They act as safeguards for parties engaged in business, particularly in industries like construction and contracting. These bonds assure that obligations will be - Read More...
Financial charges announced in relation to the Register of Beneficial Owners
The Department of the Registrar of Companies and Intellectual Property (TEEDI) has announced the imposition of financial charges in regard to the Register of Beneficial Owners.
GBCY International Investment Conference 2024
Our associate, Munevver Kasif, addressed the attendees of the GBCY International Investment Conference 2024, on the recent challenges faced in the maritime sector in Cyprus explaining how Cyprus remains an international maritime and ship management - Read More...
New bill for the release of assets from MEMOs
On April 4th, 2024, a bill was submitted to the Cyprus Parliament aiming to relief thousands of borrowers and guarantors whose assets are encumbered by MEMOs.
Cyprus companies mandated to include contractual prohibitions for re-exports to Russia
As part of its ongoing efforts to strengthen sanctions against Russia and prevent the circumvention of export bans, the EU has introduced legal provisions, such as the ‘no re-export to Russia’ clause, effective as of - Read More...
Cyprus Introduces National Solidarity Fund Replenishment Scheme
The Ministry of Finance has recently unveiled an initiative aimed at aiding individuals and entities impacted by the 2013 banking crisis in Cyprus.
14th Nicosia Economic Congress
Our partner, Nicolas Kyriakides, participated in the round table discussion, “Business leaders discuss the course of the economy and the future of entrepreneurship” at the 14th Nicosia Economic Congress. The panellists delved into the challenges - Read More...