Constantinos Clerides

HEAD OF COMMERCIAL DISPUTE RESOLUTION - PARTNER
Contact Information

Nicosia Offices

T: +357 22753015

E: con.clerides@clerideslegal.com

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Constantinos Clerides

Summary

Constantinos Clerides is a partner and the head of Commercial Dispute Resolution at Phoebus, Christos Clerides & Associates LLC, where he specialises in commercial litigation and dispute resolution. He is also a Barrister-at-law, having been called to the England and Wales Bar by the Honourable Society of Lincoln's Inn in 2017. He has over seven years of experience in representing clients in complex and high-value commercial cases. He has handled in whole or part more than 300 litigation cases in all fields of civil law cases with the majority of cases involving commercial disputes. He has handled cases both in the District Court and in the Supreme Court of Cyprus, as well as in arbitration.

With an LLM in International Business & Commercial Law from King's College London, Constantinos has a deep expertise in dispute resolution arising from international and domestic commercial disputes, including contract and property disputes, corporate and shareholder disputes, winding up and bankruptcy proceedings, jurisdictional battles, and various kinds of commercial injunctions.

He also advises clients on corporate and commercial matters, such as partnership agreements, company incorporations and structures, mergers and acquisitions, trusts and investor protection. He has handled several high-profile and multi-million euro acquisitions in Cyprus. He is fluent in Greek and English.

He is currently teaching two modules, Commercial Law and Company Law at Frederick University.

He is a legal trainer at the European Legal Training Centre since 2022 where he delivers courses and workshops on various legal and commercial matters to legal professionals in their continuing professional development including a 9 hour course on the management and resolution of shareholder disputes under Cyprus Law.

He has published several articles on topical issues in reputable media and online outlets.

Between 2020 and 2023 he was an active member of two Cyprus Bar Association committees regarding arbitration and alternative methods of dispute resolution, as well as lawyer ethics and lawyer-judges relations.

Qualifications

Language Capability

Greek (Native Language)

English (Fluent)

Education

University of Leicester

DEGREE: LLB

GRADE: 2:1 – Upper Second Class Honours

SPECIFIC SUBJECTS: Law

YEAR: 3

King's College London

DEGREE: LLM

GRADE: Pass with Merit

SPECIFIC SUBJECTS: International Business Law - International Investment Law

YEAR: 1

University of Law, London

DEGREE: Bar Professional Training Course (BPTC)

Bar Admissions

Published Barrister of The Honourable Society of Lincoln's Inn, London 2017

Cyprus Bar Association since 2018

Associate of The Chartered Institute of Arbitrators 2020

Publications

Supreme Court: Reasoned Assessment in Determining Compensation for Compulsory Expropriation is not a Formality – It is a Duty

The recent judgment of the Supreme Court in Civil Appeal 193/2016 is an important reminder that, in the sensitive field of compulsory Expropriations, the judicial power to determine “fair and reasonable compensation” is not unlimited. The Court does indeed have the discretion to accept or reject elements from the experts’ reports, but it is obliged to exercise that discretion with clear, reasoned and well-substantiated findings.

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STAYING IN A PROPERTY AFTER LEASE TERMINATION CONSTITUTES A CRIMINAL OFFENCE

The recent judgment of the Cyprus Court of Appeal in CCSRE Real Estate Company Ltd v. Theodorou Menelaou (Crim. App. 94/2022, 31.10.2025) brings to the forefront a long-standing yet sensitive issue: when does a tenant’s continued occupation of a property, after the termination of the lease, transform from a civil dispute into a criminal offence of unlawful possession under Article 281(1)(a) of the Penal Code.

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LEASE OF PROPERTY BY A COMPANY UNDER FORMATION: THE SUPREME COURT CLARIFIES THE SCOPE OF ARTICLE 15A, CAP.113

The recent judgment of the New Supreme Court of Cyprus, dated 10 September 2025, in Civil Appeal No. 74/2017 highlights a classic yet often misunderstood issue in company and contract law: when a contract entered into before the incorporation of a company binds the company itself, and when it binds personally the individual who signed it.

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CORPORATE INSOLVENCY PROCEEDINGS: THE RIGHT TO BE HEARD REAFFIRMED BY THE COURT OF APPEAL

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.

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INTERNATIONAL TRANSACTIONS, JURISDICTION AND ENFORCEMENT OF ARBITRAL AWARDS: FIVE RECENT CYPRIOT DECISIONS

Cypriot case law from December 2024 onwards has raised important issues of international law, offering significant guidance on international jurisdiction, enforcement of foreign arbitral awards, and state immunity.

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RETHINKING EXCESSIVE FORMORMALISM: THE CYPRUS APPEAL COURT’S RECENT MODERN APPROACH TO RECOGNITION OF FOREIGN ARBITRAL AWARDS

The Cyprus Court of Appeal has delivered an important clarification in the recent judgment given on 08/01/2025 in Marbale Universal Corp & Victor A. Pichugov v Alexey N. Ananiev et al, and specifically on the recognition and enforcement of foreign arbitral awards under the New York Convention (1958), contributing to the ongoing international discussion on formalism versus functionality in arbitration enforcement.

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ΕΛΕΥΘΕΡΙΑ ΤΗΣ ΕΚΦΡΑΣΗΣ ΚΑΙ ΤΟ «ΑΠΟΤΡΕΠΤΙΚΟ ΑΠΟΤΕΛΕΣΜΑ» (CHILLING EFFECT): ΔΥΟ ΠΡΟΣΦΑΤΕΣ ΑΠΟΦΑΣΕΙΣ ΤΟΥ ΣΤΡΑΣΒΟΥΡΓΟΥ

Η ελευθερία της έκφρασης, όπως κατοχυρώνεται στο Άρθρο 10 της Ευρωπαϊκής Σύμβασης Ανθρωπίνων Δικαιωμάτων, αποτελεί θεμέλιο της δημοκρατικής κοινωνίας. Ωστόσο, τα όρια της δοκιμάζονται συνεχώς όταν τα δικαστήρια επιβάλλουν κυρώσεις σε δημοσιογράφους, εργαζόμενους ή πολίτες που αναδεικνύουν ζητήματα δημοσίου ενδιαφέροντος. Δύο πρόσφατες αποφάσεις του Ευρωπαϊκού Δικαστηρίου Δικαιωμάτων του Ανθρώπου (ΕΔΔΑ) – Arvanitis και Phileleftheros ν. Κύπρου (Αρ. Αίτησης 49917/22, απόφαση 3 Ιουλίου 2025) και Gadzhiyev και Gostev ν. Ρωσίας (Αρ. Αιτήσεων 73585/14 & 51427/18, απόφαση 15 Οκτωβρίου 2024) – παρέχουν ουσιώδη καθοδήγηση για το πώς οι εθνικές αρχές οφείλουν να ισορροπούν ανάμεσα στην προστασία της υπόληψης και της εξουσίας αφενός, και στην ελευθερία της έκφρασης αφετέρου. Και οι δύο υπογραμμίζουν τον κίνδυνο δυσανάλογων κυρώσεων και τον ύπουλο αντίκτυπο του «αποτρεπτικού αποτελέσματος» στον δημοκρατικό διάλογο.

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EXCESSIVE FORMALISM IN COURT PROCEEDINGS & THE RIGHT TO ACCESS TO JUSTICE UNDER ARTICLE 6 ECHR: THE CYPRUS CPR AS A REMEDY

Article 6 of the European Convention on Human Rights (ECHR) guarantees the right to a fair trial, which includes the right of access to a court. The European Court of Human Rights (ECtHR) has repeatedly warned against excessive formalism in domestic procedures. While procedural rules serve vital functions—ensuring legal certainty, equality of arms, and efficiency—the Court has held that when courts adopt a disproportionately rigid approach, they risk undermining litigants’ access to justice.

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FREEDOM OF EXPRESSION AND THE CHILLING EFFECT: TWO RECENT STRASBOURG JUDGMENTS

Freedom of expression under Article 10 of the European Convention on Human Rights is central to the functioning of democratic society. Yet its boundaries are constantly tested when courts impose sanctions on journalists, employees, or citizens who raise matters of public concern.

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GENERAL RULES ON WINDING UP A COMPANY IN CYPRUS DUE TO OPPRESSION & DEADLOCK

A company in Cyprus may be wound up where those in control engage in oppressive conduct toward the minority or where there is deadlock and breakdown of mutual trust in a quasi-partnership context. The Court exercises equitable discretion, and winding up is a last resort where no other remedy is adequate.

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CONTEMPT OF COURT ORDERS: THE QUASI-CRIMINAL NATURE OF CIVIL ENFORCEMENT & DISTINCTION FROM THE CRIMINAL OFFENCE OF DISOBEDIENCE

Recognising this distinction is essential to ensuring that the appropriate legal remedy is pursued and that the principles of due process are respected. Importantly, both mechanisms may be invoked or triggered through the initiative of private individuals or parties, offering them powerful tools for enforcing their rights where those rights have been formalised and protected through judicial orders.

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JUSTICE PREVAILS: A LANDMARK WIN BEFORE THE CYPRUS COURT OF APPEAL – GAGGING ORDERS vs. THE RIGHT TO A FAIR TRIA

On 4 July 2025, the Cyprus Court of Appeal issued a unanimous and principled judgment that overturned an unjust ruling of the District Court. The case concerned the fundamental right of persons who are affected by court orders issued without notice (ex parte) to be heard in the proceedings, even if they are not joined as parties to the interim application. This judgment marks a landmark precedent in civil procedure, and a moment of professional pride for our firm, Phoebus, Christos Clerides & Associates LLC, which had the privilege to represent the affected individuals.


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BUYING PROPERTY IN CYPRUS: WHAT YOU NEED TO KNOW BEFORE YOU COMMIT

Purchasing a property is one of life’s most significant financial decisions. Whether you are buying your primary residence, a holiday home, or making an investment, the process requires informed and careful planning to avoid legal complications or financial risk. In Cyprus, buyers must consider a range of legal and practical factors before proceeding.

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CO-OWNERSHIP OF PROPERTY IN CYPRUS: LEGAL ISSUES AND PRACTICAL SOLUTIONS

In Cyprus, co-ownership (undivided ownership) typically arises when two or more people purchase property together or inherit it in equal shares. While often well-intentioned, especially in family contexts, co-ownership can lead to serious legal and practical challenges.

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WHEN IS A LOAN NOT A LOAN? UNDERSTANDING INFORMAL LENDING IN FAMILY CONTEXTS

In a recent case handled by our firm, Phoebus, Christos Clerides & Associates LLC, we successfully defended a claim involving an alleged personal loan between two individuals who shared a close familial bond. While the transfer of funds was not disputed, the core legal question was whether the money constituted a repayable loan — or a non-repayable gift.

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Cyprus Supreme Court Reaffirms Mortgage Autonomy And Rejects Vagueness Claims

In a unanimous judgment given on the 12th of June 2025, the Supreme Court of Cyprus reaffirmed that a mortgage creates an autonomous primary obligation, independent of the lender's ability to prove a debt against the mortgagor personally.

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From Transparency to Influence: Lobbying in Cyprus Under Law 20(I)/2022

For years, the word "lobbying" in Cyprus, as in many parts of the world, has carried a cloud of suspicion. It evoked images of backroom deals, informal access, and opaque influence. But with the enactment of the Law on Transparency in Decision-Making Processes and Related Matters (Law 20(I)/2022), Cyprus has taken a bold legislative step to bring lobbying out of the shadows and into a regulated framework of transparency, accountability, and public trust.

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Interim Injunctions in Trespass Cases: When Can the Court Intervene?

Trespass - the unlawful and direct interference with immovable property-continues to be one of the most pressing threats to landowners' rights in Cyprus. Whether in the form of unauthorised entry, refusal to vacate, or continued occupation without legal basis, trespass can cause immediate and often irreparable harm. In such cases, how and when can a plaintiff obtain an interim injunction to stop the unlawful occupation or recover possession?

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The Effect of Inter Vivos Trusts on the Composition of the Estate Under Cypriot Succession Law

This article examines a recent District Court decision in which the Court was called upon to determine whether assets transferred via trust declarations during the lifetime of the deceased should be excluded from the deceased's estate for the purposes of inheritance under the Wills and Succession Law, Cap. 195. The case, successfully handled by our firm, reinforces the legal distinction between inter vivos dispositions and testamentary or intestate succession, and affirms the enforceability of properly constituted trusts under Cypriot law.

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The Principle of Legality and the State’s Duty to Remedy Its Own Unlawful Acts

In its recent judgment in Appeal No. 171/20, dated 11 June 2025, the Supreme Constitutional Court of Cyprus delivered a landmark ruling affirming the principle of legality and underlining the duty of the administration to correct its own actions, promptly and without judicial prompting, once these have been annulled by a final court decision.

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Periodic Tenancy and Rent Control Jurisdiction: When Tenancy Is Still Contractual, Not Statutory

In a recent judgment dated 28 May 2025 were our office co-handled the case successfully on behalf of the tenants, the Rent Control Court of Nicosia dismissed an application for the determination and increase of rent relating to a commercial premises, holding that it lacked jurisdiction to adjudicate the matter. The Court found that the tenancy remained contractual and periodic, and that the tenant had never acquired statutory tenancy status within the meaning of the Rent Control Law (Law 23/1983).

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EMPLOYEE OR INDEPENDENT CONTRACTOR? A LEGAL GUIDE TO GETTING IT RIGHT

In today’s flexible work culture, many professionals—journalists, consultants, salespeople—operate under titles like “freelancer” or “partner.” But is that really what the law sees?

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Interim Protection of Intellectual Property Rights in Cyprus: Judicial Considerations and Principles

In the digital age, intellectual property rights (IPRs) such as trademarks, copyrights, source codes and softwares are not only valuable but also vulnerable. Their intangible nature makes them susceptible to immediate dissipation, assignment, or exploitation in ways that can irreversibly undermine their value. Recognising this, Cypriot courts have developed a robust approach to the interim protection of IPRs pending the final adjudication of a dispute.

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When Can Lost Profits in Public Tenders Be Compensated? Cyprus Appeal Court’s Decision

The case involved a claim for lost profits by a Cypriot Company which had submitted a bid for the supply of legal publications but was not awarded the contract. Although the company successfully challenged the decision of the Tender Board and had it annulled, the contract had already been executed, making a re-evaluation of its bid impossible.

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Recent Judgment of the Cyprus Appeal Court in Tsielepis v. Nichropa Developers Ltd: Analysis of Unjust Enrichment Principles

The Appeal Court’s decision in Civil Appeal No. 366/2019 (Panayiotis Tsielepis v. Nichropa Developers Ltd) provides a significant analysis of the principles of unjust enrichment, clarifying the legal framework under which restitution may be ordered when a party benefits unfairly at another’s expense. The ruling reaffirms the remedial nature of unjust enrichment, ensuring that financial advantages obtained without a legal basis must be returned.

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The Eviction of Statutory Tenants Due to Demolition: Legislation and Case Law

The eviction of statutory tenants due to demolition is a significant and complex legal issue governed by the provisions of the Rent Control Law, Law 23/83, and the corresponding case law.

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Understanding Acts of Bankruptcy and Creditor Rights in Cyprus

What Constitutes an Act of Bankruptcy?

According to the law, an act of bankruptcy occurs under several circumstances, including:

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Commercial Transactions - Due Diligence Protecting Businesses


In the ever-changing environment of commercial transactions in Cyprus, businesses face numerous legal obligations and regulatory requirements. As companies enter into contracts and partnerships, the importance of compliance and due diligence becomes paramount. This article discusses how these practices are essential in safeguarding businesses from potential legal challenges.

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Commercial Law - Registering Property Sale Purchase Agreement in Cyprus

When buying property in Cyprus, registering the purchase agreement with the Land Registry is a crucial step that safeguards your investment and provides significant benefits.

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International Commercial Arbitration - Unitech Limited v. Cruz City & Mauritius Holdings

The recent ruling given on 13/11/2024 addresses the enforcement of a foreign arbitral award issued by the London Court of International Arbitration, shedding light on the interplay between the New York Convention and local laws in Cyprus.

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Commercial Law - Guarantees & Floating Charges Under Cyprus Law

Floating charges serve as a vital financial tool in Cyprus, allowing businesses to secure loans while retaining the flexibility to manage their assets. Here's a concise overview of their key features and implications:

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Recognition & Enforcement of International Commercial Arbitral Awards in Cyprus

Under the Law on International Commercial Arbitration of 1987 (101/1987), the recognition and enforcement of foreign arbitral awards in Cyprus are governed by specific terms and conditions designed to ensure compliance with both local legal standards and international obligations.

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Commercial Law - Using Bonds as Guarantees in Cyprus

In the context of Cypriot contract law, particularly under Cap. 149, bonds in customary form serve as valuable tools for facilitating financial transactions and ensuring legal obligations are met. Defined as written promises created between parties, these bonds are signed in the presence of at least two witnesses who are competent to contract, providing a robust legal foundation for enforcing payment agreements.

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General Powers & Responsibilities of Liquidators Under Cyprus Companies Act

In the realm of corporate insolvency, the liquidator's role is critical to ensuring the orderly dissolution of a company. According to the Cyprus Companies Law, particularly Article 233, liquidators are vested with a range of general powers designed to facilitate effective asset management and realisation during the liquidation process.

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Mediation - Pathway to Effective Dispute Resolution in Cyprus

Mediation has gained recognition as an effective method for resolving disputes in Cyprus, offering parties a confidential and less adversarial alternative to traditional litigation. The legal framework governing mediation not only facilitates settlement but also provides mechanisms for enforcing these agreements through the courts.

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Insolvency Law - Appointment of Receivers/Managers in Cyprus

In the realm of corporate finance and insolvency, the appointment of receivers and administrators plays a critical role in managing distressed companies in Cyprus. This legal mechanism allows for the effective oversight and recovery of assets, safeguarding the interests of all stakeholders involved.

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Protection of Minority Shareholders - Cyprus Companies Act, Article 202

Article 202 of the Companies Act provides a legal framework for minority shareholders in Cyprus facing oppressive conduct by majority shareholders. Key provisions include:

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Company Law - Court-Ordered Liquidation in Cyprus

In Cyprus, a company may be subject to liquidation by the court under certain conditions as outlined in the Companies Law. This process is significant in ensuring that companies that are unable to meet their obligations are properly dissolved in a manner that protects the interests of creditors and stakeholders.

 

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Commercial Law - Registering Lease Agreements in Cyprus

In Cyprus, lease agreements for real estate that extend beyond 15 years can be registered with the Department of Land and Surveys. Once registered, the agreement grants a real right to the tenant, which is transferable, mortgageable, inheritable, and can be sold at public auction if necessary.

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Understanding the Appointment of Receivers and Managers in Cyprus

In Cyprus, the legal provisions governing the appointment of receivers and managers are crucial for the proper management of a company's assets amid financial distress. These guidelines set out eligibility requirements, processes, and obligations, ensuring a structured approach to insolvency.

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Company Law - Inspectors Protecting Minority Shareholders

Under the Companies Act in Cyprus, the Ministirial Cabinet or the Court has the authority to appoint one or more inspectors to investigate the affairs of a company upon receiving a request from its members. This process is vital for ensuring transparency and accountability within corporate operations.

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Cyprus Injunctions - Chabra Orders Against Non-substantive Defendants

Normally, Courts will not issue a freezing injunction against a person who is not a party to the proceedings and against whom there does not exist a serious issue to be tried. The possibility, however, of issuing an interim injunction against a third party who is not a "substantive" or the "principal" Defendant and against whom there is no serious issue to be tried has been recognised in both English and Cypriot case law.

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Enforcement of Foreign Judgments 2024 - International Comparative Legal Guides

Constantinos Clerides explains the legal framework applied in Cyprus regarding the enforcement of foreign judgments.

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Cyprus Company Law: Oppression of Minority Proceedings - 2024 Caselaw

In the Appeal Court’s judgment issued recently on 12/07/2024 in the case of"REFERENCE TO THE APPLICATION OF THE APPELLANTS (MINORITY SHAREHOLDERS) and IN RELATION TO Company FAIR CHAMPIONS MERIDIAN LTD, the court clarified some procedural problems that were raised during the first instance judgment.

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Cyprus Litigation: Security for Costs Under New Procedural Rules

Under Rule 26 of the new Procedural Rules adopted in September of 2023, a Claimant who has his habitual residence outside the European Union or a Member State of the European Union may, at any stage of the claim, be ordered to provide security for costs, even if  he may reside temporarily within Cyprus or in a Member State of the European Union. It is understood that low-income foreign workers are exempt from any order to provide security for costs.

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CYPRUS COMPANY LAW: RECENT DEVELOPMENTS

In the recent judgment of the new Cyprus Court of Appeal dated 09/02/2024, Regarding the Petition of Evelyn Bates v. Regarding the Company M. Moniatis & Sons Ltd, Civil Appeal no. 145/2018, 9/2/2024 the following were decided:

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CYPRUS INJUNCTIONS (COURT ORDERS): RECENT DEVELOPMENTS

Recent Developments in the Law on Cyprus Injunctions (Court Orders): The new Appeal Court clarifies the relationship and differences between the duty for Full and Frank Disclosure and the Equitable Doctrine of “he who comes to equity must come with clean hands”:

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ΚΩΝΣΤΑΝΤΙΝΟΣ ΚΛΗΡΙΔΗΣ - ΠΥΡΗΝΑΣ ΔΡΑΣΗΣ Η ΕΠΙΛΥΣΗ ΔΙΑΦΟΡΩΝ

Ο Κωνσταντίνος Κληρίδης, συνέταιρος και Επικεφαλής του Τμήματος Επίλυσης Εμπορικών Διαφορών και Εταιρικού Δικαίου στην Φοίβος, Χρίστος Κληρίδης & Συνεργάτες ΔΕΠΕ εξηγεί ότι η εταιρεία επικεντρώνεται στον κλάδο επίλυσης διαφορών, με κύρια δραστηριότητα και εξειδίκευση στη δικαστηριακή εκπροσώπηση πελατών. Εκτός δικαστηρίων, παρέχει συμβουλές σε σχέση με εταιρικά, εμπορικά και συναφή θέματα. Μεγάλο μέρος των υποθέσεων που χειρίζεται το γραφείο αφορά την επίλυση διαφορών που προκύπτουν στο πλαίσιο εμπορικών και εταιρικών σχέσεων και λαμβάνουν πολλές μορφές, καθότι ο κλάδος του corporate litigation είναι πολυσύνθετος. Από το 2020 και έπειτα η Διοίκηση του γραφείου έχει περιέλθει στους Φοίβη Κληρίδου, Αλέξανδρο Κληρίδη και Κωνσταντίνο Κληρίδη.

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ΚΩΝΣΤΑΝΤΙΝΟΣ ΚΛΗΡΙΔΗΣ - ΠΥΡΗΝΑΣ ΔΡΑΣΗΣ Η ΕΠΙΛΥΣΗ ΔΙΑΦΟΡΩΝ

Ο Κωνσταντίνος Κληρίδης, συνέταιρος και Επικεφαλής του Τμήματος Επίλυσης Εμπορικών Διαφορών και Εταιρικού Δικαίου στην Φοίβος, Χρίστος Κληρίδης & Συνεργάτες ΔΕΠΕ εξηγεί ότι η εταιρεία επικεντρώνεται στον κλάδο επίλυσης διαφορών, με κύρια δραστηριότητα και εξειδίκευση στη δικαστηριακή εκπροσώπηση πελατών. Εκτός δικαστηρίων, παρέχει συμβουλές σε σχέση με εταιρικά, εμπορικά και συναφή θέματα. Μεγάλο μέρος των υποθέσεων που χειρίζεται το γραφείο αφορά την επίλυση διαφορών που προκύπτουν στο πλαίσιο εμπορικών και εταιρικών σχέσεων και λαμβάνουν πολλές μορφές, καθότι ο κλάδος του corporate litigation είναι πολυσύνθετος. Από το 2020 και έπειτα η Διοίκηση του γραφείου έχει περιέλθει στους Φοίβη Κληρίδου, Αλέξανδρο Κληρίδη και Κωνσταντίνο Κληρίδη.

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UNDUE INFLUENCE UNDER CYPRUS CONTRACT LAW - CAP. 149

Article 16(1) of Cyprus Contract Law (Cap. 149) describes that a contract is considered to have been concluded as a result of "Undue Influence" when the relations existing between the parties are such that one of them is in a position to dominate the will of the other and to benefit from this position by securing an unfair advantage over another.

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BANKRUPTCY PROCEEDINGS UNDER CYPRUS LAW

With reference to the bankruptcy process, it has been decided and it has been characterised that it has a quasi-criminal nature with the aim of protecting and securing the debtor's property so that it can be used as the law defines which is for the satisfaction of the creditors in whole or in part and equally (see London Clubs Ltd v. P. Papadopoulos (2002) 1(C) A.A.D. 1699). Further, in Rashid v. Papori Pol. Appeal No. 198/2012 dated 6/6/2018 the following was mentioned in relation to the bankruptcy procedure: " - The same here, by analogy, bearing in mind that the bankruptcy procedure is a sui generis procedure characterised as quasi-criminal in nature (Williams & Hunter on Bankruptcy, 12th ed. p. 1), where the applicant having no other choice, promoted the bankruptcy of the respondent legally to protect his own interests as well. The fact that a creditor takes the initiative for the bankruptcy of a debtor, which entails some advantage to him, is not considered as equivalent to the use of an unfair purpose or a parallel abusive procedure, (Petrakis v. Kimonos (2006) 1 A.A.D. 1311 ). Fraud or wrongful securing of money for the benefit of the particular creditor needs to be proven in order for a finding that the petition is brought forward on an abusive or unfair basis.

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IMPROPER USE OF DIRECTOR'S FIDUCIARY DUTY IN ISSUING SHARES - SHAREHOLDER DISPUTES - COMPANY LAW

In Re Sherborne Park Residents Co Ltd (1986) 2 B.C.C. 99528 Ch (Companies Ct), Hoffmann J held that an action by a shareholder seeking to set aside an improper issue of shares, as in Howard Smith Ltd v Ampol Petroleum Ltd [1974] A.C. 821 PC, was not a derivative claim at all but a personal claim by the individual shareholder who is aggrieved by it (at 99530– 99531):“Although the alleged breach of fiduciary duty by the board is in theory a breach of its duty to the company, the wrong to the company is not the substance of the complaint.

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THE RULE AGAINST REFLECTIVE LOSS IN SHAREHOLDER DISPUTES - COMPANY LAW

The rule is that a shareholder, assuming it otherwise has a cause of action as well as the company, cannot recover for loss which is merely reflective of the company’s loss.

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DUTY IN EQUITY TO PROVIDE SHAREHOLDERS SUFFICIENT INFORMATION - CYPRUS SHAREHOLDER DISPUTES

Duty in equity to provide shareholders with sufficient information.

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ANTI-SUIT INJUNCTIONS - CYPRUS INJUCTIONS

The courts have the power to issue interim injunctions prohibiting a Party from bringing court or arbitration proceedings.  In general and where there is the element of foreign parallel proceedings, anti-suit injunctions are intended to prevent "forum shopping" or the bringing of proceedings in a "forum non conveniens" or where the foreign proceedings have been issued in bad faith and thus have an oppressive or vexatious effect. Such injunctions are issued in personam, so that they are compatible with the need for comity between different countries and their court systems.

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COURT'S POWER TO STAY OR TERMINATE LIQUIDATION OF COMPANIES - CYPRUS COMPANY LAW (CAP.113)

Under Article 243(1) of the Cyprus Companies Law the Court may at any time after the issuance of a liquidation order, at the request of either the liquidator or the official receiver (insolvency department) or any creditor or contributory, and after proof to the satisfaction of the Court that any liquidation proceedings should be stayed or terminated, it may issue an order staying or terminating the proceedings, either in completely or for a limited period of time with such terms and conditions as the Court deems appropriate.

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LIQUIDATION OF COMPANIES BY COURT ORDER (WINDING UP ORDERS) - CYPRUS COMPANIES LAW (CAP.113)

Under Article 211 of the Cyprus Company Law (CAP. 113), a company may be liquidated by the Court in the following cases:

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CYPRUS INJUCTIONS - THE NORWICH PHARMACAL ORDER (DISCLOSURE ORDER)

Norwich Pharmacal order (“NPO”), has its roots in the known UK House of Lords case of Norwich Pharmacal Co ν. Commissioners of Customs and Excise [1974]. It requires a party to disclose certain documents or information to the applicant. NPOs are commonly used to identify the proper defendant to an action or to obtain information to plead a claim.

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SHARE PLEDGE AGREEMENTS - CYPRUS CONTRACT LAW

Perfection of a Pledge Agreement pursuant to Article 138(1) and 138(2) of the Cyprus Contract Law (Cap. 149):

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CYPRUS INJUNCTIONS - THE MAREVA FREEZING INJUNCTIONS

A Claimant who successfully applies in Court for an injunction freezing the assets of a party places themselves in a very strong position from the outset of a dispute, a position which might bring about an early and successful outcome in that dispute. This arguably makes freezing injunctions, also known as "Mareva" injunctions from the English precedent of Mareva Compania Naviera SA v. International Bulk Carriers SA (1975) , the most important and effective type of court orders.

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CYPRUS INJUNCTIONS - THE GENERAL PRINCIPLES OF ISSUING COURT ORDERS

An injunction is an order of the court that requires a party either to do a specified act (mandatory injunction) or to refrain from doing a specified act (prohibitory injunction - for example, not to trespass on identified land). Technological advances combined with the effects of globalisation allow for rapid transactions and thus create the need for more effective remedies and solutions which can be requested and delivered with haste. The Cypriot Courts recognising this need, especially in cases with an international character, have adapted accordingly and have granted to parties various types of injunctions depending on the circumstances of each case.

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News

COMMERCIAL LAW LECTURES

Constantinos Clerides after successfully teaching Company Law at Frederick University for the academic year 2023-2024, has been assigned an additional subject to teach, Commercial Law. His expertise in Corporate and Commercial law is invaluable to the firm and we wish him all the best in this new endeavor!

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CYPRUS ARBITRATION DAY

Our very own Partner, Constantinos Clerides opening discussion at Cyprus Arbitration Day 2024: Modernizing Arbitration Laws. The event was sponsored by CleridesLegal and took place on the 20th May 2024 in Limassol.

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ELTC: LEGAL EXPERT INSTRUCTOR CONSTANTINOS CLERIDES

European Legal Training Centre Spotlight - a platform designed to showcase our distinguished legal instructors and their respected law firms.

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COMMERCIAL LITIGATION EXPERT - CONSTANTINOS CLERIDES

Constantinos Clerides is a Partner and lawyer at Phoebus, Christos Clerides & Associates LLC, a leading law firm in Cyprus, where he specialises in commercial litigation and dispute resolution.

He is also a Barrister-at-Law, having been called to the England and Wales Bar by the Honourable Society of Lincoln’s Inn in 2017. He has more than seven years of experience in representing clients in complex and high-value commercial cases.

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MANAGING AND RESOLVING SHAREHOLDER DISPUTES

Constantinos Clerides completed another three-day / nine hour training course as a Legal Trainer and instructor for legal professionals in their Continuing Professional Training (9 CPDs) on behalf of the European Legal Training Center.

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CYPRUS COURT DEVELOPMENTS ON LAW OF EXTRADITION

On 11/07/2023, the Appeal Court in Cyprus heard a case where the Russian Federation had requested the extradition of a Russian in order to stand trial for the crime of theft of funds from the federal budget and for knowingly providing false and misleading information when recovering compensation in connection with the known Chernobyl accident.

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BEST LEGAL CONFERENCE 2023

The opportunities and threats brought by artificial intelligence and language models have a significant impact on legal practice even today. However, experts predict that in just two years, their influence will be felt much more strongly, and those who are not yet working with modern technologies may become uncompetitive. The various aspects and new practices of lawyers in the context of digitalization became the main topics of the annual Best Legal Conference.

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THE LAW AND ECONOMICS OF MERGERS AND ACQUISITIONS

Constantinos Clerides successfully completed the 6-week online certificate course of LSE on "The Law and Economics of Mergers and Acquisitions".

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LEGAL TRAINER & INSTRUCTOR: CONSTANTINOS CLERIDES

"Just completed a 9 hour training course as a Legal Trainer and instructor of 28 legal professionals in their Continuing Professional Training (9 CPDs) on behalf of European Legal Training Center. Special Thanks to all 28 attendees for dedicating 9 hours out of their busy schedules to hear what I had to say on the matter of Managing and Resolving Shareholder Disputes in Cyprus, a subject to which I have had the good fortune to be involved in as a litigation practitioner.

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MANAGING AND RESOLVING SHAREHOLDER DISPUTES COURSE

European Legal Training Center presents a course by Constantinos Clerides, accredited by CBA. Managing and resolving shareholder disputes takes a practical approach to shareholder disputes, focusing on the importance of understanding shareholder resolution methods, establishing clear policies and learning how to draft a shareholder's agreement.

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CiArb - INTERNATIONAL ARBITRATION

Constantinos Clerides successfully completed and passed Module 1: International Arbitration on 14th September 2021.

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COURSE: M&A - CONCEPTS AND THEORIES

Constantinos Clerides, Head of our Corporate Department, successfully completed and received a passing grade in MA1.1x: M&A: Concepts and Theories, MA1.2x ADVANCED TOPICS and MA1.3x: STRUCTURING THE DEAL courses of study offered by NYIF.

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CONSTANTINOS CLERIDES: ASSOCIATE OF CIARB

Constantinos Clerides was admitted as an Associate of the Charter Institute of Arbitrators.

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CONTRACT LAW: FROM TRUST TO PROMISE TO CONTRACT

Constantinos Clerides successfully completed HarvardLawShool2X: Contract Law: From Trust to Promise to Contract a course of study offered by HarvardX, an online learning initiative of Harvard University.

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ΓΙΑΤΡΟΙ ΕΝΑΝΤΙΟΝ ΓΙΑΤΡΩΝ ΜΕ ΦΟΝΤΟ ΤΟ ΓΕΣΥ

Ο γενικός διευθυντής της Πολυκλινικής Υγείας λαμβάνει επιστολή από τον δικηγόρο Κωνσταντίνου Χρ. Κληρίδη. Σύμφωνα με τα όσα αναφέρονται σε αυτήν, «εάν ο ΟΑΥ με τη φράση ‘ανεξάρτητα από το νοσηλευτήριο’ υπονοεί ότι συμπεριλαμβάνονται και τα εκτός ΓεΣΥ νοσηλευτήρια -όπως η Πολυκλινική- τότε κάτι τέτοιο είναι αντίθετο με τις διατάξεις του περί ΓεΣΥ Νόμου»

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SEMINAR: FUND SET UP IN CYPRUS BY THE EUROPEAN INSTITUTE OF MANAGEMENT & FINANCE

Ο Κωνσταντίνος Κληρίδης παρακολούθησε σεμινάριο με θέμα Fund Set Up in Cyprus, που διοργανώθηκε απο το European Institute of Management & Finance.

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ANNUAL COMMERCIAL CONFERENCE

Constantinos Clerides as Head of our Corporate Department represented our law firm at the ANNUAL COMMERCIAL CONFERENCE. The conference took place at the Law Society Council Chamber in London.

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Ο Δρ. Χρίστος Κληρίδης και ο Κωνσταντίνος Κληρίδης με τον Lord Neuberger

Ο Δρ. Χρίστος Κληρίδης και ο Κωνσταντίνος Κληρίδης με τον Πρόεδρο του Ανωτάτου Δικαστηρίου Αγγλίας Lord Neuberger. Λονδίνο, Οκτώβριος 2017.

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Case Law

PRE-ACTION DISCLOSURE OF DOCUMENTS UNDER PART 31.7 OF THE NEW CIVIL PROCEDURE RULES

The case was handled on behalf of the Respondent by Phoebus, Christos Clerides & Associates LLC, and afforded the Court the opportunity to rule, at the level of principle, on the conditions, limits and exceptional nature of pre-action disclosure in a field where — as expressly acknowledged in the judgment itself — no binding Cypriot case law has existed to date. It is expected that the decision will serve as a point of reference for future Cypriot jurisprudence and will guide both judicial practice and procedural strategy under the New Civil Procedure Rules.

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ΚΑΤΑΣΧΕΣΗ ΧΡΗΜΑΤΩΝ ΤΑΜΕΙΟΥ ΠΡΟΝΟΙΑΣ

Κατάσχεση χρημάτων από τραπεζικό λογαριασμό ταμείου πρόνοιας - μέτρα εκτέλεσης δικαστικής απόφασης. Seizure of money directly from provident fund’s bank account - execution of judgment

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ΑΚΥΡΩΣΗ ΔΙΑΤΑΓΜΑΤΟΣ ΠΑΡΕΜΠΟΔΙΣΗΣ ΕΙΣΑΓΩΓΗΣ STOLICHNAYA

Απόρριψη διατάγματος παρεμπόδισης εισαγωγής ή και εκτελώνευσης ή και διανομής προιόντων που κατ' ισχυρισμό παραβιάζουν εμπορικά σήματα. Judgement in relation to an injunction that prohibited the im...

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ΑΠΟΡΡΙΨΗ ΑΙΤΗΣΗΣ ΔΙΑΤΑΓΜΑΤΟΣ ΑΠΟΚΑΛΥΨΗΣ ΤΥΠΟΥ NORWICH PHARMACAL

Απόρριψη αίτησης για διάταγμα αποκάλυψης εγγράφων και πληροφοριών τύπου Norwich Pharmacal. Successful defence in petition for disclosure orders regarding information and documents - rejection of No...

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ΑΠΟΡΡΙΨΗ ΑΙΤΗΣΗΣ ΑΝΑΣΤΟΛΗΣ ΚΑΙ ΠΑΡΑΜΕΡΙΣΜΟ ΕΠΙΔΟΣΗΣ / JURISDICTION CLAUSE LUGANO CONVENTION

Το Δικαστήριο απέρριψε αίτηση αναστολής αγωγής ή και παραμερισμό επίδοσης λόγω ρήτρας δικαιοδοσίας στην Ελβετία. Court rejected petition to stay proceedings - jurisdiction clause. Swiss/Cyprus Luga...

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ΕΠΙΚΥΡΩΣΗ ΕΙΔΟΠΟΙΗΣΗΣ ΠΤΩΧΕΥΣΗΣ - BANKRUPTCY PROCEEDINGS AGAINST INDIVIDUAL

Το Δικαστήριο επικύρωσε υπερ του πελάτη μας ειδοποίηση πτώχευσης ατόμου και απέρριψε αίτηση παραμερισμού της ειδοποίησης - Bankruptcy proceedings against individual

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ΑΠΟΡΡΙΨΗ ΑΙΤΗΣΗΣ ΕΚΚΑΘΑΡΙΣΗΣ - WINDING UP ORDER DENIED

Αντικείμενο της παρούσας διαδικασίας ήταν η αίτηση της Αιτήτριας, με την οποία ζητούσε την εκκαθάριση της Καθ’ ης η αίτηση εταιρείας. Το γραφείο μας εμφανίστηκε για την Καθ᾽ης η αίτηση εταιρεία και...

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ΑΠΟΡΡΙΨΗ ΑΙΤΗΣΗΣ ΑΝΑΣΤΟΛΗΣ ΕΚΤΕΛΕΣΗΣ ΕΚΚΡΕΜΟΥΣΗΣ ΕΦΕΣΕΩΣ

Η Αιτήτρια ζητούσε την αναστολή εκτέλεσης απόφασης ως ότου επιδικαστεί η εφεσιβληθείσα πρωτόδικη απόφαση που είχε εκδοθεί υπέρ της Καθ᾽ης η αιτηση. Το Δικαστήριο απέρριψε την αίτηση και υιοθέτησε τ...

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ΑΠΟΖΗΜΙΩΣΕΙΣ ΓΙΑ ΔΥΣΦΗΜΙΣΗ ΣΕ ΕΣΚΕΜΜΕΝΑ ΑΝΑΛΗΘΕΣ ΔΗΜΟΣΙΕΥΜΑ

Την 5/6/2020 εκδόθηκε η απόφαση στην υπόθεση με αρ. 4420/10, η οποία αφορά αγωγή για δυσφήμιση και επιζήμια ψευδολογία. Στην παρούσα υπόθεση υπήρξαν σαφής αναφορές που καταδείκνυαν την εσκεμμένη αν...

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ΑΚΥΡΩΣΗ ΑΠΟΦΑΣΗΣ ΠΕΙΘΑΡΧΙΚΟΥ ΣΥΜΒΟΥΛΙΟΥ

Ακύρωση της απόφασης του πειθαρχικού της Επιτροπής Εκπαιδευτικής Υπηρεσίας με την οποία είχαν κρίνει τον Αιτητή πελάτη μας ένοχο για απρεπή συμπεριφορά.

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ΕΠΙΤΥΧΗ ΥΠΕΡΑΣΠΙΣΗ ΣΕ ΙΣΧΥΡΙΖΟΜΕΝΟ ΔΑΝΕΙΟ

 Το γραφείο μας ανάλαβε την υπεράσπιση στην υπόθεση και κατάφερε να αποδείξει μέσω νομικών αρχών και μαρτυρίας ότι τα ποσά που η θανούσα πήρε από την Ενάγουσα δεν ήταν αποπληρωτέα αφού ήταν προϊόν ...

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ΑΚΥΡΩΣΗ ΑΠΟΦΑΣΗΣ ΙΕΡΑΡΧΙΚΗΣ ΠΡΟΣΦΥΓΗΣ

Το Διοικητικό Δικαστήριο ακύρωσε απόφαση Ιεραρχικής Προσφυγής που επικύρωνε αρνητική απόφαση της Πολεοδομικής Αρχής εις βάρος των πελατών μας.  

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Academic Events

COMMERCIAL LAW LECTURES

Constantinos Clerides after successfully teaching Company Law at Frederick University for the academic year 2023-2024, has been assigned an additional subject to teach, Commercial Law. His expertise in Corporate and Commercial law is invaluable to the firm and we wish him all the best in this new endeavor!

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ELTC: LEGAL EXPERT INSTRUCTOR CONSTANTINOS CLERIDES

European Legal Training Centre Spotlight - a platform designed to showcase our distinguished legal instructors and their respected law firms.

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MANAGING AND RESOLVING SHAREHOLDER DISPUTES

Constantinos Clerides completed another three-day / nine hour training course as a Legal Trainer and instructor for legal professionals in their Continuing Professional Training (9 CPDs) on behalf of the European Legal Training Center.

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BEST LEGAL CONFERENCE 2023

The opportunities and threats brought by artificial intelligence and language models have a significant impact on legal practice even today. However, experts predict that in just two years, their influence will be felt much more strongly, and those who are not yet working with modern technologies may become uncompetitive. The various aspects and new practices of lawyers in the context of digitalization became the main topics of the annual Best Legal Conference.

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LEGAL TRAINER & INSTRUCTOR: CONSTANTINOS CLERIDES

"Just completed a 9 hour training course as a Legal Trainer and instructor of 28 legal professionals in their Continuing Professional Training (9 CPDs) on behalf of European Legal Training Center. Special Thanks to all 28 attendees for dedicating 9 hours out of their busy schedules to hear what I had to say on the matter of Managing and Resolving Shareholder Disputes in Cyprus, a subject to which I have had the good fortune to be involved in as a litigation practitioner.

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MANAGING AND RESOLVING SHAREHOLDER DISPUTES COURSE

European Legal Training Center presents a course by Constantinos Clerides, accredited by CBA. Managing and resolving shareholder disputes takes a practical approach to shareholder disputes, focusing on the importance of understanding shareholder resolution methods, establishing clear policies and learning how to draft a shareholder's agreement.

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Useful Insights

BUYING PROPERTY IN CYPRUS: WHAT YOU NEED TO KNOW BEFORE YOU COMMIT

Purchasing a property is one of life’s most significant financial decisions. Whether you are buying your primary residence, a holiday home, or making an investment, the process requires informed and careful planning to avoid legal complications or financial risk. In Cyprus, buyers must consider a range of legal and practical factors before proceeding.

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CO-OWNERSHIP OF PROPERTY IN CYPRUS: LEGAL ISSUES AND PRACTICAL SOLUTIONS

In Cyprus, co-ownership (undivided ownership) typically arises when two or more people purchase property together or inherit it in equal shares. While often well-intentioned, especially in family contexts, co-ownership can lead to serious legal and practical challenges.

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EMPLOYEE OR INDEPENDENT CONTRACTOR? A LEGAL GUIDE TO GETTING IT RIGHT

In today’s flexible work culture, many professionals—journalists, consultants, salespeople—operate under titles like “freelancer” or “partner.” But is that really what the law sees?

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FEATURES

ΚΩΝΣΤΑΝΤΙΝΟΣ ΚΛΗΡΙΔΗΣ - ΠΥΡΗΝΑΣ ΔΡΑΣΗΣ Η ΕΠΙΛΥΣΗ ΔΙΑΦΟΡΩΝ

Ο Κωνσταντίνος Κληρίδης, συνέταιρος και Επικεφαλής του Τμήματος Επίλυσης Εμπορικών Διαφορών και Εταιρικού Δικαίου στην Φοίβος, Χρίστος Κληρίδης & Συνεργάτες ΔΕΠΕ εξηγεί ότι η εταιρεία επικεντρώνεται στον κλάδο επίλυσης διαφορών, με κύρια δραστηριότητα και εξειδίκευση στη δικαστηριακή εκπροσώπηση πελατών. Εκτός δικαστηρίων, παρέχει συμβουλές σε σχέση με εταιρικά, εμπορικά και συναφή θέματα. Μεγάλο μέρος των υποθέσεων που χειρίζεται το γραφείο αφορά την επίλυση διαφορών που προκύπτουν στο πλαίσιο εμπορικών και εταιρικών σχέσεων και λαμβάνουν πολλές μορφές, καθότι ο κλάδος του corporate litigation είναι πολυσύνθετος. Από το 2020 και έπειτα η Διοίκηση του γραφείου έχει περιέλθει στους Φοίβη Κληρίδου, Αλέξανδρο Κληρίδη και Κωνσταντίνο Κληρίδη.

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