Little Known Facts About debt collection cyprus.
Little Known Facts About debt collection cyprus.
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Karamanolis & Karamanolis LLC is usually a boutique firm specialised in industrial and Corporate Litigation and Arbitration. The founders from the firm are expert and passionate specialists who are already with the forefront of numerous substantial commercial conditions of the previous yrs.
Evgenios Erotokritou is definitely the CEO of E.R. workforce world Consultants and a seasoned attorney specialised in company legislation and business development. tend not to hesitate to Get in touch with us for almost any lawful trouble it's possible you'll deal with.
In Cyprus, the civil court procedure is intricately structured to guarantee comprehensive and truthful authorized proceedings. It reflects the place's adherence to both of those local and European Union lawful expectations, catering to an array of civil disputes like debt collection.
it does not matter the problem, it's best to to start with access an settlement Together with the debtor just before having any even further actions. This is often why, There are 2 techniques through which debt recovery can take place in Cyprus.
finally, it really is up to you irrespective of whether you ought to carry on with legal motion. If you do, our international debt collection specialist will discuss along with you the legal solutions available and what the lawful approach will entail.
000 businesses worldwide, which include Cyprus. Discover how our Global experts and attorneys have served other providers in an analogous condition and discover the solution for debt collection in Cyprus.
Seized belongings can be sold by means of public auctions, with proceeds utilised to satisfy the remarkable debts in accordance with authorized priorities.
the failure of compact enterprises to pay their invoices may also lead to creditors desirable to debt collection methods in Cyprus.
Expense criteria: Creditors must be mindful of administrative and probable authorized advisory charges in preparing their debt recovery strategy.
Submit your contact information and amongst our debt collection specialists will Call you promptly!
In theory the statute read more of constraints in Cyprus is 10 years. this era starts off whenever you choose motion towards your debtor, as an example, by sending a reminder or perhaps a need letter.
you'll find specified benefits to operate with legislation firms when it comes to debt collection in Cyprus, as these can:
in some instances we take into account it acceptable to file an interim order against the debtor’s immovable assets or freeze his accounts. through the courtroom proceedings there is usually a likelihood of settlement without the need to Choose a hearing.
Anastasios specialises in corporate law matters, coverage regulation and debt collection. In addition he has wide knowledge in e-income and payment products and services legislation.
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