The Basic Principles Of cyprus law firm

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This electronic mail address is being protected against spambots. you'll need JavaScript enabled to view it. for almost any queries on debt collections.

Enforcement can be employed for up to ten years after a judgement has become issued. The court docket enforcement methods which our staff of Cyprus legal professionals will carry out on behalf in the creditor are:

Our key issue is to try and negotiate with every single debtor as a way to avoid court docket intervention. The course of action accompanied by our professional collection workforce, will be to Call the debtors and encourage them to settle their fantastic total due by sending Formal notifications, demand letters, e-mails and through telephone phone calls.

Writ of click here Movables/Immovables This step pertains to the attachment with the judgement to movables or immovable property and requesting their sale.

A court docket judgment in Cyprus routinely has an enforceable standing. after the court has created a ruling, we can quickly execute the judgment.

a corporation inside of a debt recovery circumstance have to search for a quick and efficient resolution in advance of it adversely has an effect on organization processes.

it ought to be pointed out which the court docket can enforce the freezing on the debtor’s banking account or simply to situation an get against any immovable house the debtor has.

the failure of tiny enterprises to pay for their invoices may bring about creditors interesting to debt collection strategies in Cyprus.

However, provided that legal professionals Possess a genuine purpose to be aware of, all data on the debtor, and especially all information which can be publicly available (for example When they are received the Registrar of providers in Cyprus) can be utilized from the lawyers.

we must file your assert with among the list of 5 district courts within the island (in Nicosia, Limassol, Larnaca, Paphos, or Famagusta). We do this by preparing a notice of default and sending it into the court.

In basic principle the statute of limitations in Cyprus is 10 years. this era begins once you choose action versus your debtor, such as, by sending a reminder or simply a desire letter.

If the debtor refuses to pay for even after the issuance of the courtroom judgment versus him, we are able to use the next treatments so as to execute the court docket judgment:

In scenarios in which the debtor has no assets for seizure, look at submitting for individual bankruptcy. If the debtor is previously bankrupt, submit your claim immediately for verification.

These safeguards assure a systematic technique in direction of debt Restoration in Cyprus, hanging a harmony in between effective debt collection and safety of customer rights from unjust collection methods.

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