Forex Scams and how to deal with them
Foreign Exchange (Forex) trading is the conversion of one currency into another for either practical purposes or for gaining profits. Forex trading has developed into the largest trading market in the world over recent years. It operates 24/7 all over the world, bringing together international banks and corporations to trade with each other. Foreign Exchange is available in all currencies...
Mareva Injunction – Freezing orders
The Mareva injunction, otherwise known as the freezing order or freezing orders, the Mareva order or the Mareva regime, is an interlocutory relief granted by the courts in order to freeze the assets of a defendant during a civil proceeding. The primary function of the injunction is to maintain the integrity of the court process by preventing the defendant from dissipating assets and becoming...
Divorce in Cyprus: Parental Care
An important dimension of Family Law is parental care. In general, the term parental care denotes the right and the responsibility of parents towards minor children. The parental care is exercised by both parents. That is to say, both of the parents are responsible for the welfare of their children, and at the same time they have the right to have a contact with them.
In Cyprus, parental care...
Judicial Review against the haircut on Laiki’s and BoC’s Depositors
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...
Supreme Court of Cyprus – Update on legal actions against Bank of Cyprus & Laiki Bank “haircut”
Supreme Court of Cyprus – Update on legal actions against Bank of Cyprus & Laiki Bank,“haircut”
The Cyprus’ Supreme Court on April 23, 2013 began reviewing appeals filed against the March 29, 2013 Eurogroup’s decision to wind down Laiki bank and impose massive losses on all deposits in excess of €100.000 at both Laiki and the BoC (Bank of Cyprus). The appeals were submitted by local and...
Suffering Depositors Taking Legal Actions against Banks
The main condition for Cyprus to get the €10 billion loan package, as agreed between the government and the Eurogroup, is the restructuring of the country’s two leading banking institutions, through the resolution of Laiki Bank and the recapitalisation of Bank of Cyprus (BoC). The plan provides for transferring Laiki’s deposits under €100,000, its loans and its €9 billion liabilities from the...
Property Litigation in Cyprus
Property is one of the most valuable assets that a person or a company can own and it is perhaps by virtue of this value that property tends to attract a great deal of litigation and dispute. There are many different kinds of dispute that can occur in relation to property; in this article Michael Chambers highlights some of the most common forms of dispute and the action available to an...
Contractual Disputes
A contract is a written agreement made between the parties which states the terms of their legal relationship. Every contract will
contain different terms and conditions concerning the bargain it embodies. A dispute will occur when any of the terms and conditions are breached by either party, when there is disagreement as to interpretation of the written agreement or in the event that the...
The Litigation Process in Cyprus
Litigation refers to the dispute resolution process through the courts. Having been a British colony until 1960, the Cypriot legal system and rules relating to litigation are primarily based on the English legal system. The courts are divided into six types: District Courts (civil actions); Assize Courts (criminal cases); Family Courts; Rent Control Tribunals; Industrial Dispute Tribunals and...
Action for Infringement of Trademark
The logo, symbol or design of a company is a commodity that serves to distinguish the goods or services of one company from those of its competitors. Once created, a trademark can be registered and will enjoy an initial seven-year period of protection from the date of filing of the application, which is renewable every fourteen years thereafter.
If the owner of a registered mark believes that...