Karamanolis & Karamanolis LLC is really a boutique firm specialized in business and Corporate Litigation and Arbitration. The founders in the firm are seasoned and passionate gurus who have been at the forefront of numerous substantial industrial situations of your earlier a long time.
the possibility for a successful recovery is determined by the nature of the debt collection circumstance. We remedy 95% of all situations over a contingency basis.
On top of that we might use credit rating details agencies and the online market place for our debt collection. In Cyprus along with in all EU member states the overall information safety Regulation might forbid the use of information which the debtor has not offered consent.
Failure to answer the attempts of Call from your creditor, Restoration agency, or law firm will often bring about the latter filing for any court docket purchase throughout the owing total is attained.
If your debtor data files an objection, the court docket summons the plaintiff to inform his place on the situation and, if it considers the debtor’s objection being justified, cancels the payment buy. In this case, the situation is topic to thought in get more info civil proceedings. In case the debtor does not submit any objections to your courtroom, the payment purchase acquires the power of the ultimate conclusion. the eu Payment Order is identified in all EU member states (except Denmark).
Consumer defense: Cyprus regulation guards individuals in debt collection, ensuring honest and transparent tactics.
Application to examine the financial problem on the Debtor Applying into the courtroom and requesting the assessment of the debtor’s money predicament and demanding the debtor to pay on the creditor an installment every month.
The last case situation is in the event the negotiations fall short and there's no other choice than to move on with initiating courtroom proceedings against the debtor.
In scenarios of insolvency, the appointment of insolvency practitioners can be required to oversee the distribution of property amid creditors.
Interim actions in Cyprus A authorized situation can take months to take care of. Of course, we don’t want your debtor to implement that point to cover their belongings, leaving nothing to collect after the courtroom will make a ruling.
Alternative dispute resolution mechanisms, which include mediation and arbitration, may also be obtainable in Cyprus. These might be a more quickly and less official way to solve disputes and recover unpaid debts.
After the ultimate court docket judgment is shipped and If your debtor retains refusing and/or failing and/or denying to adjust to his monetary obligations plus the courtroom judgment in opposition to him, we could commence appropriately and use the subsequent methods in an effort to execute the court docket judgment in opposition to him:
option dispute resolution methods like mediation and arbitration could possibly be explored in advance of resorting to legal proceedings. you can find these debt Restoration solutions in Cyprus from our legal professionals.
Anastasios specialises in company legislation issues, insurance plan regulation and debt collection. Moreover he has wide awareness in e-funds and payment expert services laws.