Μη κατηγοριοποιημένο

The judicial proceedings against the haircut on Laiki and Bank of Cyprus’ depositors are ongoing. The objective of the applications filed for judicial review is to annul the governmental decrees by which deposits in excess of €100.000 in Laiki and BoC were subjected to massive reductions. There have been six consecutive sittings at the Supreme Court. The hearings for the preliminary objections...

The Supreme Court on Friday, 7 of March, delivered its long-awaited decision with regard to the appeals lodged by Laiki’s and BoC’s depositors who lost part of their money in the €10 billion bail-in plan for Cyprus. More than 3.000 appeals of uninsured depositors were filed before the Supreme Court requesting the decision to be revoked. The applicants appealed the decree R.A.D. 104/2013...

The turbulent banking crisis in the Republic of Cyprus triggered disputes among the EU with regard to whether depositors should be protected from bail-ins or whether only deposit holders with accounts exceeding €100,000 should be subjected to losses through such resolution. Bail-in relates to a situation where the creditors of an institution facing bankruptcy are forced to bear some of the...

The Council of Ministers updated the conditions for naturalisation of investors in Cyprus by exception, on the basis of subsection (2) of section 111A of the Civil Registry Laws of 2002-2013. According to the verdict laid out on May 24, 2013, a non-Cypriot citizen may apply for the attainment of Cypriot citizenship, if he or she has made mixed investments and a donation to a state fund, has...

Investors and companies around the world have been benefiting from advantageous corporate structures and favorable tax regimes for years in order to increase profitability. With the economic turmoil pushing countries to impose tax reforms, numerous companies are looking to benefit from the best possible tax planning solutions through company set up in offshore jurisdictions. In general, an...

Ship arrest practice in the Republic of Cyprus is enforced by the Administration of Justice Act Part 1 of the Arrest Convention in 1952, as adopted by the United Kingdom, by virtue of Cyprus’ Constitution and section 29 of Law the Courts of Justice Act (14/60). Discretionary Power of Admiralty Court Ship arrest cases fall under admiralty litigation and are adjudicated by the Supreme Court of...

Criminal law is a set of legal regulations that determine the actions that society condemns. A criminal wrong describes an action that inexcusably and unacceptably threatens or causes considerable damage to individuals or the general public. Criminal law aims at protecting society and to dishearten such acts, by imposing punishments on individuals conducting those actions. The criminal legal...