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...
Harris Kyriakides advises Petrolina on its acquisition of ExxonMobil Cyprus
Harris Kyriakides advised Petrolina (Holdings) Public Ltd on its landmark acquisition of 100% of the share capital of ExxonMobil Cyprus Limited, a subsidiary of Exxon Mobil Corporation. The transaction remains subject to the approval of - Read More...
EU seeks to ban “forever chemicals” in consumer products
The European Commission’s new initiative to phase out “forever chemicals” from consumer products marks a significant shift in the European market, impacting industries across various sectors. Background “Forever chemicals”, formally known as per- and polyfluoroalkyl - 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...
Obstructing the dawn raid: EU competition law expands to digital communications
The European Commission’s €15.9 million fine against IF&F signals an expanded enforcement approach, extending its investigative powers to digital communications like WhatsApp, setting a precedent for future competition law investigations.
New developments in European state aid for aviation and the impact on Cyprus
The European aviation sector is undergoing significant regulatory scrutiny, particularly concerning state aid provided to airlines and airport operators. Recent decision by the European Commission has brought to light the complexities that EU member states - 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.
Commission for the Protection of Competition launches public consultation on priority criteria
The Competition Protection Committee is initiating a public consultation to establish criteria for prioritising its duties and powers as defined by the 2022 Competition Protection Law. This initiative aims to enhance transparency and effectiveness in - Read More...
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...
Model European Rules of Civil Procedure
The ELI and UNIDROIT convened a pivotal Dissemination Conference at the Austrian Academy of Sciences in Vienna on February 5 and 6, 2024. The event spotlighted the enduring significance of the ELI-UNIDROIT Model European Rules - Read More...