The smart Trick of cyprus law firm That Nobody is Discussing

The smart Trick of cyprus law firm That Nobody is Discussing

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must we feel that the debtor has no financial trustworthiness and would not pay back Despite a courtroom judgment inside our fingers, we would then advise the consumer It's not truly worth pursuing this issue in courtroom. This is, nonetheless, not typically the case given that the debt might be collected productively in the vast majority of situations.

Our priority is a solution for our client, and one that achieves the target of recouping your owings in a quick, very simple and amiable way.

any time you hand your claim in excess of for collection, we quickly consider action. both equally in creating and on the phone We'll demand from customers that the Cypriot debtor pays the invoices. If essential, we may even have interaction inside of a nose to nose discussion Together with the Cypriot corporation.

personal bankruptcy proceedings may also be out there although strictly speaking they're not regarded as a sort of execution, which could result in the liquidation on the debtor’ s property in an effort to pay out the debt. Also petitions for winding up a business can be also employed (once more not thought of as a method of execution).

In case the debtor refuses to pay even following the issuance of the courtroom judgment versus him, we can use the following techniques so that you can execute the courtroom judgment:

File a lawsuit: You can file a lawsuit towards the debtor to gather the remarkable debt. This includes submitting a lawful action on the courtroom that points out the character from the debt, the amount owed, as well as the authorized basis to the claim.

The amicable route delivers quite a few advantages for all functions involved. Creditors circumvent the significant expenses connected to legal proceedings and simultaneously maintain invaluable enterprise relationships, because of the procedure’s cordial mother nature.

If pre-legal attempts are unsuccessful, our expert lawyers can initiate authorized proceedings in opposition to the debtor, including acquiring judgments and implementing court orders to Get better the debt.

For bigger or more complicated conditions, the Cyprus District Courts function the main instance courts. These courts deal with check here an array of civil and specified prison cases, together with Individuals related to debt collection. The decision on which District courtroom to solution will depend on the location in the debtor or even the put exactly where the debt was incurred.

following a yr of registering the charge has elapsed the creditor is authorized supplied sure technique is followed to petition to get a sale with the land so registered.

Our team operates considered one of the largest Commercial Debt Collection departments in Cyprus and it is recognised for performing instantly and for its really higher accomplishment charges in associated cases. Our expert services are also presented on annual retainers for businesses investing available in the market.

Accordingly, we kindly request that you compromise the remarkable harmony via the selected payment deadline, [Date ten days from nowadays]. Failure to comply inside this era will compel us to contemplate all pertinent authorized recourses to recover the amount thanks.

last but not least, it is necessary to note that the process of implementing a judgement in Cyprus can be sophisticated and it is usually recommended to hunt our suggestions.

For anyone who is a creditor seeking to collect a debt in courtroom, there are numerous lawful actions you normally takes: 

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