certainly, no one desires to go bankrupt. Our expertise is that the debtor instantly finds a means to pay out when a personal bankruptcy petition is filed.
Evgenios Erotokritou is definitely the CEO of E.R. workforce world Consultants and a highly skilled lawyer specialized in corporate regulation and enterprise development. tend not to wait to Call us for any authorized problem you might deal with.
But in sure cases, the court may possibly get or else with regard to execution. The closing date for thing to consider of the attractiveness more info is not really recognized by legislation. As a result of consideration in the charm, the court docket would make a decision, which will come into pressure from The instant of its adoption.
A A part of our group of lawyers in Cyprus are accredited mediators who working experience in mediation proceedings, we hold the know-how of what it requires to be a negotiator. We use these capabilities to improve our Cyprus debt collection method and provide the the best possible result for your shopper.
A court docket judgment in Cyprus mechanically has an enforceable status. after the courtroom has produced a ruling, we are able to straight away execute the judgment.
ship a well mannered reminder in your debtor, Carefully prompting them regarding their financial obligation. This reminder must:
The debt collection technique in Cyprus starts by having an evaluation of your debtor’s solvency, his field of exercise, the history in the enterprise, The provision of documentary evidence in the debt, present-day court circumstances and enforcement techniques, as well as the potential of hard the debt.
constraints on Enforcement techniques: Debt collection strategies including asset seizure or garnishee orders require a court judgment, supplying debtors judicial scrutiny of collection efforts.
In sure instances, creditors could examine debt restructuring solutions, enabling debtors to repay in installments or less than modified conditions.
even so, You will also find case wherever a problem can end up in a very court of legislation. In this case, the services of the Cypriot regulation firm gets to be necessary.
Should your debtor in Cyprus refuses to pay for throughout the extrajudicial phase, soon after dialogue along with you, we could head to court docket in Cyprus .
really should your debtor fall short to respond, then our experts and legal professionals can present you with an envisioned result or course of action inside of four weeks. If legal proceedings are necessary, the debt collection course of action requires for a longer period. The duration relies on the authorized proceedings and whether or not the debtor raises a defence.
Antonis Paschalides & Co LLC has ordinarily represented the main banking establishments of Cyprus in collection of their regional debts and it has a short while ago been engaged by many overseas consumers wishing to gather from Cyprus primarily based men and women or providers.
The judgment expenses tend to be paid out through the defendant nonetheless it’s not a standard rule, the decide may perhaps dispose that the two parties should pay back their element.