The smart Trick of cyprus law firm That Nobody is Discussing

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Debt collection can demand for two phases, the 1st one currently being "smooth collection" that is the away from court docket try because of the firm to gather the consumer's debt on a "no collection no rate" basis and the next stage which will involve court docket proceedings plus the use via the firm of all indicates made available from the regulation with the recovery of the debt.

SCORDIS, PAPAPETROU & Co LLC can be a dynamic and foremost legislation firm in Cyprus whose roots date from 1922. right now it's a lot more than 30 specialized legal professionals and is renowned for its robust Worldwide company and dispute resolution observe and know-how.

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Chambers & Co has in depth encounter in taking care of cross-border debt collection circumstances. We collaborate with Worldwide companions to be certain a easy and helpful recovery process for our customers.

A court judgment in Cyprus routinely has an enforceable status. as soon as the courtroom has designed a ruling, we will instantly execute the judgment.

The process for submitting a statement of assert is carried out by registering a declare in courtroom, after which the defendant is obliged to provide a notice of visual appearance within 10 days. If these types of discover will not be offered, the creditor may well check with the court docket to issue a choice in connection with get more info the unregistered visual appearance from the debtor.

in the judicial phase, we do contain the Court in order to make your Cyprus debtor pay out. mainly because we are a legislation firm, we are able to assist you for the duration of both of those stages. In Cyprus, 95% on the conditions that we resolve, might be gathered with none courtroom intervention.

regardless of whether you decide on to refer to us in both the extrajudicial or judicial debt collection phases in Cyprus or abroad, our Place of work is ready To help you.

Debtors commonly take a letter of assert coming from an attorney more very seriously than any letters in the creditors on their own. numerous debtors want to stop legal proceedings against them and can be ready to settle outside of courtroom their economical obligations.

Collection of receivables in Cyprus is completed by filing a claim beneath the regular or option method (from the absence of an important dispute over the info) and thru a simplified course of action.

We strongly feel that in today’s modern Culture and company earth, Distinctive emphasis need to be placed upon substitute dispute resolution mechanisms and out-of-court settlements for resolving disputes.

For those who have any thoughts or have to have help regarding debt collection while in the Republic of Cyprus, our organization is ready to deliver our qualified assistance to efficiently take care of your money difficulty. remember to Call us to get added facts and Skilled support from our specialists.

In some cases we think about it suitable to file an interim buy versus the debtor’s immovable residence or freeze his accounts. through the Court proceedings there is always a probability of settlement without the really need to Opt for a hearing.

The judgment expenses are frequently paid out from the defendant but it really’s not a general rule, the judge may perhaps dispose that equally functions will have to pay out their aspect.

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