DECISION ON BANKRUPTCY PETITION – SUCCESSFUL DEFENSE AGAINST FRAUDULENT TRANSFER ALLEGATION

In a groundbreaking case, Antonis Georgiou successfully argued for the rectification of a procedural error regarding an affidavit mistakenly submitted in Greek instead of English. This matter had never been decided before in Cyprus, making it a one-of-a-kind legal challenge. The court, acknowledging his legal reasoning based on the New Civil Procedure Rules and relevant case law, ruled in favor of his client, setting a precedent for procedural flexibility and fairness in affidavit submissions.

Signing a contract is often a critical step in both personal and professional dealings. Whether you’re entering into a business agreement, leasing a property, or finalizing a service contract, understanding every aspect of the document is essential to protect your interests. Below are key points to consider before putting pen to paper.

This ruling sets an important precedent for cases involving public tenders and administrative annulments. It strengthens the legal stance that the administration is not obliged to award a contract or provide compensation unless direct financial harm is proven. Furthermore, it clarifies that lost profit is not a compensable claim unless there is clear and substantiated financial loss directly resulting from the annulled administrative decision.