Regional news: Cyprus

Corporate Insolvency and Restructuring Legal Framework in Cyprus: A Shift Towards a Rescue Culture

Featured in Europe, Middle East and Africa Restructuring Review 2023

24 April 2023

Hogan Lovells advising as US investors' agent pursues Ukrainian grain terminal bankruptcy

Hogan Lovells is advising a security trustee that has filed a bankruptcy petition against a Ukrainian grain terminal operator on behalf of a pair of US investors, after successfully obtaining a worldwide freezing order from an English court against its owners last month.

13 February 2023

FRP launches its first international office in Cyprus

UK advisory firm FRP has opened its first international office after acquiring a Cypriot boutique firm that is working on the liquidation of Cyprus Popular Bank.

09 December 2022

BVI court to consider impact of Russia sanctions on receivership

A British Virgin Islands court is gearing up to consider the impact of Russia sanctions on receivers appointed over a local entity for the benefit of Russia’s VTB Bank, which is seeking to enforce a US$30 million judgment debt against a Ukrainian businessman and politician.

15 March 2022

Canadian court appoints receiver over Finnish gold mine operator

An insolvent Canadian company that owns a gold mine in Finland has been placed into receivership, while fraud litigation between its majority shareholder and only secured creditor play out in the US and Canada.

02 February 2022

Indian bank secures English debt judgment against oil company guarantor

India’s IDBI Bank has obtained a US$239 million English judgment against the Cypriot guarantor of two oil companies that entered liquidation in Singapore two years ago.

29 June 2021

Gazprombank challenges DTEK’s English schemes

The Swiss branch of Russia’s Gazprombank has told an English court that one of Ukrainian coal miner DTEK’s English schemes does not have a “real prospect” of being recognised in key foreign jurisdictions following Brexit.

13 May 2021

Harneys, Willkie Farr and Debevoise announce new year promotions

This new year promotions round has seen Harneys elevate five litigators in the British Virgin Islands, while Willkie Farr & Gallagher has appointed a new partner in New York, and Debevoise & Plimpton has made several promotions to counsel and international counsel.

05 January 2021

Quantuma sold to UK advisory firm

UK advisory firm K3 Capital has acquired corporate recovery specialist Quantuma, which has offices in the UK, Cyprus and Mauritius.

03 August 2020

CVR Global hires Deloitte BVI head as partner

Advisory firm CVR Global has hired a joint liquidator of Panama Papers leak victim Mossack Fonseca from Deloitte in the British Virgin Islands.

12 July 2019

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