The best Side of cyprus law firm
The best Side of cyprus law firm
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If a debtor is insolvent, creditors may well initiate individual bankruptcy proceedings, perhaps resulting in the liquidation of assets to satisfy debts.
just in case we feel that the debtor has no monetary credibility and wouldn't have the ability to fork out the creditor, even when a court docket judgment in opposition to him is sent, we would recommend the shopper that it is not really worth pursuing this issue in courtroom.
Furthermore we may possibly use credit score data agencies and the online market place for our debt collection. In Cyprus in addition to in all EU member states the final Data defense Regulation may perhaps forbid the use of knowledge which the debtor has not offered consent.
A Portion of our group of lawyers in Cyprus are accredited mediators who encounter in mediation proceedings, we contain the know-how of what it's going to take for being a negotiator. We use these capabilities to boost our Cyprus debt collection technique and provide the ideal result to the customer.
The duration of legal proceedings in Cyprus relies on the complexity within your case and whether or not your debtor raises a defence.
We cooperate by using a network of Expert and responsible legislation Firms in all of these locations to the judicial debt collections.
Our partners adhere to the clear and standardized debt collection agreement, streamlining your authorized framework throughout jurisdictions and associates.
Our debt collection treatment aims particularly at combating strategic responses of debtors in not paying out whatever they owe whilst in instances in which the debtor is truly unable to fork out, we offer a versatile technique according to the needs from the consumer.
Antonis Paschalides & Co LLC regulation firm continues to be our external counsels for our enterprise exercise in Cyprus for the last five yrs. We check with them on numerous tasks (company issues, Levels of competition law, work regulation challenges, marketing regulation, mental property regulation and so forth).
To extend the statute of limitations, the creditor have to submit a corresponding application on the court docket in advance of initiating a declare. The limitation interval can be interrupted in scenarios where by the debtor check here acknowledged the debt in composing or compensated at least fifty% from the debt amount of money, like accrued curiosity.
Our professionals and attorneys usually do their utmost to make sure to collect your assert as quick and competently as you possibly can. We always Make sure you Present you with trustworthy and useful guidance that will deliver you the very best benefits.
The courtroom sends a summons towards your debtor. This really is an Formal contact to seem before the court. Your debtor has the opportunity to file a protection versus the claim within just 14 times. being a creditor, you then have seven days to respond.
In circumstances where the debtor has no property for seizure, look at filing for personal bankruptcy. When the debtor is now bankrupt, submit your claim instantly for verification.
Anastasios specialises in company law matters, insurance regulation and debt collection. On top of that he has huge know-how in e-funds and payment products and services laws.
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