Litigation is obviously a risk when people or companies are unable to pay their debts and has long been a feature of the dispute resolution landscape in Cyprus. The most common sources of dispute arise between creditors and debtors, such as disputes over unpaid debts and disputes over creditors’ security interests, including injunctive relief such as freezing injunctions and the appointment of interim receivers.
N. Pirilides & Associates has the necessary expertise to advise clients on disputes involving, inter alia, shareholders claiming against directors for causing a company to go insolvent, liquidators claiming against directors or shareholders of insolvent companies, debtors using insolvency processes to try and avoid paying debt and more frequently companies facing winding-up petitions or individuals facing bankruptcy petitions. Our insolvency litigation services include asset recovery, freezing orders and other injunctive relief, civil claims for fraud, international recognition and enforcement proceedings and general advice on insolvency procedures.
It is also notable that our team is complemented by lawyers who are also licensed insolvency practitioners, eligible to be appointed as liquidators, receivers, administrators and examiners.