In recent years our law firm has been involved in a number of important transactions and high profile cases. Some of these transactions and cases are described further below:
 
  • The firm advised the international firm of Alvarez and Marsal in relation to the latter’s appointment as independent experts by the Central Bank of Cyprus to carry out an investigation on the events which led the two largest banks in Cyprus to require state assistance.
  • On behalf of a major German bank, the firm obtained an anti-suit injunction prohibiting a Cypriot entity of Russian interests from proceeding with a claim against it in the Russian courts.
  • The firm was heavily involved in one of the most substantial disputes before the Cyprus courts in 2014. This involved enforcing a pledge after a USD 80 million loan defaulted and obtaining control of the pledgor company and its subsidiaries comprising of European banks and other substantial companies.
  • The firm is currently representing a major German bank in a dispute it has with a Cypriot entity beneficially owned by a Ukrainian oligarch in relation to the sale of a Ukrainian Bank.
  • The firm is currently representing a prominent Russian businessman in a dispute over the shareholding of one of the largest Russian Malls, Europark.
  • The firm advised with respect to the Cyprus legal issues involved in a USD 400 million syndicated loan to a major Russian oil company.
  • The managing partner of the firm, Menelaos Kyprianou, has been called as an expert witness on Cyprus Financial Law in arbitration proceedings before the Moscow Chamber of Commerce.
  • We acted as the Cypriot counsel for Silk Road Fund, a state owned investment fund of the Chinese government, on the equity investment and a 15-year loan financing for the amount of EUR 1,087 million of Russia's key new liquefied natural gas (LNG) project owned by Novatek, Russia's largest independent natural gas producer.
  • We advised Sberbank of Russia and Sberbank Invest on the banks’ participation in the joint venture with O1 Properties, one of the largest groups of property owners and managers in Russia, including the White Square Complex in Moscow, and the financing and acquisition of a share in the Company's capital,  for the total value of USD 800 million.
  • As one of the first duly certified appointed liquidators, the partners of the firm act as liquidators in the Liquidation of Cyprus Companies further to the latest amendments of the Cyprus law on Insolvency.
  • The firm has acted as a hub centre for requesting of legal opinions on behalf of its clients in relation to the provision of investment services at EU and international levels.
  • The firm has been requested to advise on the merger and acquisition of international companies and provide tax advice in relation to the treatment of the Cyprus companies involved.
  • The firm has been requested to provide advice in relation to takeovers of Cyprus Investment firms by experienced market leaders and has assisted in the takeover and notification procedure as per the laws and requirements of the Republic of Cyprus.
  • The firm undertook the case management in three related LCIA arbitrations concerning a dispute arising out of a Share Sales Agreement concerning the Kazakhstan port authorities for a consideration in the region of USD 300.000.000. In these arbitrations we joined forces with a leading set of chambers in London.
  • We applied successfully in the Cyprus Court to obtain interim relief in aid of arbitration proceedings filed in the LCIA, concerning a Ukrainian airline company. The relief was obtained on the basis of Council Regulation (EC) No. 44/2001 and the relevant principles formulated in the ECJ case of Van Uden. The interim order prohibited the transfer of shares, the alienation of assets and the amendment of a Shareholders Agreement pending the determination of the said LCIA proceedings.
  • Our firm defended a group of companies and individuals in two separate cases filed against them by the Russian giant the Mirax Group with a combined subject matter in excess of Euro 250.000.000. The claims raised issues of breach of trust and breach of provisions of a power of attorney in relation to the setting up of a company that bought a very large piece of land on which a huge building complex was developed.
  • We are currently representing a group of 66 British citizens in an action claiming exemplary and punitive damages exceeding Euro 2.000.000 for several breaches in contract and tort against local banks and estate agents. The Plaintiffs claim that they have been defrauded in connection to sale agreements of over 100 villas in Paphos.
  • The founding partner of the firm, Michael Kyprianou, represented the Republic of Cyprus and the Autocephalous Greek Orthodox Church of Cyprus in the US Courts for the return of the Kanakaria Mosaics, stolen from the Kanakaria Church and consisting of a handful of the rarest holy Byzantine artefacts to survive into the 20th century.
  • The firm has defended the New York Times and the International Herald Tribune in a libel case wherein a prominent Cypriot politician claimed damages exceeding 1.000.000 Cypriot Pounds for articles repeatedly published in the newspaper alleging that he had illegal dealings with Serbian businessmen.