DECISION ON PETITION TO STRIKE OUT CLAIM – SUCCESSFUL DEFENSE AGAINST LACK OF JURISDICTION

The “inexhaustible building factor” represents a right that pertains a future development of the property, as by the law constitutes a separate unit and certainly does not constitute a common area for the owners of the joint property. Therefore, including that separate unit as common area, in determining of the corresponding amount of money for each owner, alters the actual monetary amount and the co-ownership ratio. Such an erroneous practice in the apportionment of expenses related to the common areas, which often goes unnoticed, may lead to conflicts and disagreements among co-owners and may give rise to civil liability due negligence.

This decision underscores a crucial point in Cypriot corporate insolvency law: procedural fairness is not a formality but a condition of jurisdiction. Creditors seeking urgent corporate remedies—such as the appointment of a provisional liquidator—must ensure full and proper service on all affected stakeholders, especially where allegations of asset dissipation or mismanagement are made. Conversely, for directors, shareholders, and officers, the ruling reinforces an essential protection: where the right to be heard is denied, the resulting order is void and all subsequent actions under it are without legal effect. Therefore, in corporate insolvency proceedings, due process is the first and final safeguard. Without proper notice, even the most urgent relief cannot stand.

Στις 5 Οκτωβρίου 2025 το Forbes Κύπρου αφιερώνει το κεντρικό του θέμα στις «ΓΥΝΑΙΚΕΣ ΗΓΕΤΙΔΕΣ: Δύναμη, Όραμα, Επιρροή», αναδεικνύοντας τις προσωπικότητες που εμπνέουν, ηγούνται και δημιουργούν στην κυπριακή αγορά. Μέσα από συνεντεύξεις, το Forbes προβάλλει τις γυναίκες που ξεχωρίζουν σε επιχειρήσεις και οργανισμούς, αποτελώντας κινητήριο δύναμη προόδου και ανάπτυξης.