5 Simple Statements About Commercial law Cyprus Explained
5 Simple Statements About Commercial law Cyprus Explained
Blog Article
evidence of financial substance can be crucial for proving considerable activities of a firm. a firm having no established economic activity in its region of incorporation, minimal to no unbiased economic price and no documented proof to the contrary exhibits deficiency of compound of that company.
ahead of judgment, on the application of your arresting party or the admiralty marshal, supplied the court is convinced that the vessel is actually a ‘wasting asset’.
within a sale of a newly built ship that carries on beneath the builder’s warranty, and the place such warranties are assigned on the purchaser, Along with the builder’s consent, then these kinds of purchaser would stand in precisely the same legal posture as the original shipowner against the builder in relation to these warranty statements.
A contractual assert versus a time-charterer of a vessel isn't going to provide a basis for that claimant to arrest this type of vessel For the reason that vessel to generally be arrested ought to belong beneficially, with respect to all of the shares therein, to the individual accountable for the declare in personam.
the businesses regulation and, in effect, the posts of association of a company, offer for 2 sorts of shareholder meetings which are commonly held, namely the AGM and the amazing general meeting ("EGM").
don't hesitate to Make click here contact with us for your free, private consultation by cellphone, email or in the Call form below:
No unique formalities are necessary to make an arrest software. The claimant will have to engage an area lawyer who'll comply with undertake the case. The documents supporting the claim could possibly be photocopies and should be in the language which is recognized because of the courtroom, otherwise they ought to be translated into Greek, Along with the translator swearing an affidavit that the interpretation is legitimate and correct. Arrest purposes is often dealt with in a make any difference of two to 3 days.
Any scenario legislation as many as 1960 is of binding outcome and any subsequent authorities are of a really persuasive mother nature for the Cypriot courts.
Sure, there is and it covers the whole in the Republic of Cyprus. Enforcement, nevertheless, can be done only while in the spots which are beneath the control of the Cyprus govt.
in the course of this thanks diligence I noticed how lousy it receives when you have to manage a dodgy "aged-design" lawyer representing the other aspect. This practical experience highlighted to me the importance of exceptional legal representation in Cyprus - the place however even now suffers from a legacy of shady deals, intransparency and unresolved credit card debt concerns. I will happily achieve out again to Nicolas when I would like legal support in Cyprus.
Are there any remedies offered in area courts to compel delivery with the vessel if the garden refuses to do so?
An operator may perhaps use into the Cypriot courts and request The problem of the purchase for ‘distinct functionality’ powerful the builder to deliver the ship bodily to him or her.
By short article 33 of your EC Regulation, a judgment, which includes a decree, buy, conclusion or writ of execution, specified inside a member state can be recognised in another member states with no Exclusive treatment remaining necessary, and less than no situations may well a overseas judgment be reviewed concerning its compound.
Are there another noteworthy details relating to transport in the jurisdiction not protected by any of the above mentioned?
Report this page