cyprus law firm - An Overview

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If a debtor is insolvent, creditors may perhaps initiate bankruptcy proceedings, likely leading to the liquidation of property to fulfill debts. 

Our regulation firm specialises in dealing with equally commercial and private debts, and understands the value of maintaining knowledgeable strategy in debt collection to maintain the connection among our clientele as well as their debtors.

But in specific situations, the courtroom could buy if not with respect to execution. The deadline for consideration of the charm is just not founded by regulation. As a result of thing to consider on the appeal, the court docket makes a decision, which will come into force from The instant of its adoption.

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The period of lawful proceedings in Cyprus is dependent upon the complexity of your respective case and whether your debtor raises a defence.

you are able to Stick to the correspondence with your debtor in Cyprus via our Net portal 24/7. Moreover, your caseworker will always Speak to you by phone or in writing to help keep you educated over the progress of the debt collection in Cyprus.

Should the debtor files a detect to seem in court, he should also file his defense into the declare. even further, according to the rules, the court sets a date for your courtroom Listening to at which the events existing their arguments and the court docket helps make a last choice.

If pre-lawful attempts are unsuccessful, our competent lawyers can initiate lawful proceedings in opposition to the debtor, which includes obtaining judgments and enforcing court docket orders to Get well the debt.

How can you gather the excellent debts? Which legislation applies? In Cyprus, the specific situation is additional difficult mainly because a Component of the island is under the control of Turkey and another authorized method is de facto used.

step one should be to send check here a letter to the debtor inquiring that he pays the debt within just a certain timeframe (usually ten times).

In Cyprus, the limitation period of time for promises is six several years in the date of the final payment or acknowledgement of your debt. it can be crucial for creditors to concentrate on this time-frame and take motion throughout the limitation time period to Recuperate the debt.

They generally supply a point out from the artwork and one hundred% trustworthy legal company inside of a swift and friendly method. When needing lawyers in Cyprus, we might hugely recommend Antonis Paschalides & Co LLC law firm for any sort of authorized assignment.

If you need assist in chasing a debt, our Cypriot legal professionals are at your disposal and will help you in equally the amicable and court docket proceedings.

The payment buy is then despatched in your debtor. The debtor has the chance to file an objection on the claim. If that doesn't take place, we can easily implement the eu Payment get by seizing belongings from your debtor.

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