cyprus law firm - An Overview

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Karamanolis & Karamanolis LLC is usually a boutique firm specialised in Commercial and Corporate Litigation and Arbitration. The founders of your firm are skilled and passionate professionals who are actually with the forefront of many considerable professional cases of the earlier years.

Payment claims in Cyprus have a limitation interval that differs in comparison with other nations around the world. you can find, having said that, many solutions to interrupt this limitation time period. For additional information, it's best to contact our professionals.

That’s why we will check with the court docket in Cyprus to impose an interim attachment. Which means the debtor’s belongings will probably be put in custody by a bailiff until a court decision is made. providing the assets are under attachment, your debtor can't accessibility them.

Our priority would be that the debt is gathered in one of the most time economical way and Using the the very least costs attainable. We therefore look for to stop litigation anywhere doable. In many situations, We are going to accumulate the debt in couple weeks by merely sending a letter of need, through which we declare the amount owed to our customer.

In principle, we constantly start out the debt collection procedure Using the extrajudicial period. At this stage, we consider to stop courtroom intervention, as this can be expensive. We will Get in touch with your debtor to demand from customers payment.

If the debtor is struggling to spend, enforcement of a assert can be done by obtaining an enforcement purchase with the court docket. This enables the creditor to seize assets or garnish wages to Recuperate the debt.

In the event your debtor genuinely can’t meet up with their payment obligations, the court declares them bankrupt. A trustee is then appointed to assess the assets of your debtor and all creditors. The creditors are repaid as much as feasible from the assets.

Our intention is to collect the additional curiosity and expenditures from your debtor; nevertheless, this depends upon the character of your respective circumstance. With No get rid of No spend debt collection in Cyprus, it is possible to assume the following:

Debtors normally have a letter of claim coming from an attorney a lot more severely than any letters through the creditors by themselves. lots of debtors want in order to avoid legal proceedings in opposition to them and can be prepared to settle outside of Court their financial obligations.

Creditors could charge interest and late fees on overdue payments, and these terms are frequently specified in the initial credit score arrangement. 

Our professionals and legal professionals constantly do their utmost to be certain to gather your declare as rapid and proficiently as possible. We normally Ensure that you Offer you straightforward and functional advice that could produce you the most effective benefits.

that is a legitimate and enforceable judgment that's acknowledged in almost any Member State (other than Denmark). The European get for Payment is rarely suitable for disputed issues read more (so not in circumstances where You can find an argument in regards to the Bill). The advantage of this treatment are velocity and reduced expenditures.

Also, the credit history collector simply cannot use Bogus statements in its attempts to Get well the dues or using another identification. Accusations of any sort can not be dealt with on the debtor.

in advance of forwarding The problem to an authorized courtroom, there'll be tries to take care of the debt collection in Cyprus by way of out-of-courtroom negotiations.

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