during the complex landscape of Cyprus debt recovery, It is really important to grasp the one of a kind roles and duties of assorted significant contributors.
We are delighted to consider the opportunity to complement Antonis Paschalides & Co LLC law firm on the quality and professionalism which is characterized by their firm in all components of their enterprise. Antonis Paschalides & Co LLC law firm has labored with us in the last two a long time on a number of our portfolio organizations (provision of fiduciary – corporate – legal expert services) and we have been amazed by the caliber of its consultants, the influence of their work, the honest and dependable expert services as well as their Expert approach in quite a few circumstances. We look forward to quite a few a lot more thriving decades of cooperation.
It is always troublesome when customers or other debtors don't pay out you. It will become even tougher when your debtors are located overseas.
Any occasion on the dispute that is not satisfied with the ultimate final decision with the court docket of 1st occasion has the proper to attractiveness it on attraction inside 42 days from the date of the decision. Filing an appeal doesn't cease the execution of the ultimate decision.
We also recognize that the Coronavirus can have developed a back log of debts, a few of that happen to be legitimate scenarios of inability to pay, even though Another situations relate to strategic conduct by the Debtors not to pay their debts.
000 providers around the world, together with Cyprus. Find out how our Worldwide professionals and lawyers have served other firms in an analogous predicament and find the solution for debt collection in Cyprus.
Debt collection in Cyprus normally starts within the extrajudicial section the place we deliver your debtor customised need letters and make contact with them by cellular phone. If the debtor disputes the assert or fails to respond, then we are able to commence by taking authorized action in session along with you.
The last circumstance state of affairs is if read more the negotiations fall short and there's no other solution than to maneuver on with initiating courtroom proceedings against the debtor.
How can you obtain the exceptional debts? Which law applies? In Cyprus, the situation is further more complicated mainly because a part of the island is beneath the Charge of Turkey and a distinct lawful technique is de facto applied.
gratification of your creditor’s requires in the entire process of compelled execution is carried out with the seizure of resources and their compose-off, seizure of home with subsequent sale.
in the event the judge will make a ruling, the legal fees on the winning party are usually awarded towards the dropping social gathering. These costs can be collected together with the original debt, by way of example by way of seizure of assets.
How an individual strategies debt collection in Cyprus is amazingly essential. We understand that when collecting your debts, time is from the essence. We also realize that think about
Our workforce of experts can support in insolvency and individual bankruptcy proceedings, encouraging creditors defend their pursuits and Get well their debts competently.
An easy way to collect the debt is with the mediation, and that is a flexible and private procedure which assists the events to seek out their popular floor and do the job in the direction of resolving their dispute by agreement. as being a form of other Dispute Resolution mediation is now increasingly preferred.