Our Mergers & Acquisitions team discusses recent trends and much more in this month’s IMH Gold Magazine issue titled "Mergers & Acquisitions Specialists & Consultants".
The Cyprus Advertising Standards Agency (in Greek: Φορέας Ελέγχου Επικοινωνίας) has recently completed a decade of successful operation in the Cyprus advertising and media market. It is a non-profit organisation whose primary purpose is to regulate advertisements displayed in Cyprus to ensure that they are legal, decent, honest, truthful, created with a sense of social responsibility, and in compliance with the applicable laws and principles of fair competition.
A number of decisions issued by the Cyprus Commission for the Protection of Competition in the telecommunications sector have been recently endorsed by the Cyprus Supreme Courts as correct and lawful in all respects.
The Cyprus Forum is the largest policymaking conference in Cyprus and one of the largest in the region. It's dedicated to enhancing sustainable and socially responsible policies in Cyprus and the broader Eastern Mediterranean.
This year’s theme is the word “Transparency”. Harris Kyriakides remains committed in fostering change through dialogue by supporting the 2023 Cyprus Forum, set for September 29th and 30th in Nicosia.
At Harris Kyriakides, we recognise the significance of education and exchange of ideas amongst young minds. That’s why we have proudly supported EYPCyprus for yet another year. Our partner, Nicolas Kyriakides, also participated in this year’s 17th National Session sharing his expertise during the “Discussing Europe” panel.”
Recent Judgement by the Supreme Court of the United Kingdom, regarding the duties of doctors to discuss alternative treatments with patients and what legal test should be applied to assess whether an alternative treatment is reasonable.
On 28 June 2023, the European Commission (EC) introduced three new proposals to regulate the digitalisation of the Euro currency, resulting in a transformative leap in the financial landscape by redefining the way transactions occur and underscoring the European Union's commitment to adapt to the digital age.
This month’s Legal Issue from GoldMagazine, features our firm and our partner Nicolas Kyriakides, who provides valuable insights into the current state of the legal services market in Cyprus as well as the challenges and changes expected in the coming decade.
It is with profound sadness that our firm announces that Harris Kyriakides, the founder of our firm, our managing partner and a great colleague and role model to all, has passed away on Friday. Harris founded the firm in 1976 and has been ever since a central and valued member of the legal profession in Cyprus.
An amendment to the Insurance and Reinsurance Services and Other Related Matters Law of 2016 (Law 38(I)/2016, “the Law”) was recently voted by the Parliament of Cypriot Republic, introducing some provisions relating mainly to the Commissioner of Insurance.
The article refers to the suspension of the foreclosure process until 31.10.2023 and the amendments to the Transfer and Mortgage of Property Law which has been introduced by the House of Representatives.
Congratulations to our Trainee Associates who have successfully passed the examinations of the Legal Council! Your hard work and dedication have paid off, and we couldn't be prouder. Wishing you all the best in your future endeavours.
Harris Kyriakides warmly welcomes law students from universities in Cyprus and internationally for the 2nd edition of our 2023 summer internship.
In the past weeks we proudly welcomed six talented law students from various schools and universities in Cyprus and beyond. Through this internship, they had the opportunity to collaborate on exciting projects and gain valuable skills.
One year ahead of the implementation of a widespread local government reform in Cyprus, various streams of work are already running in parallel so that the municipal legislation is ready to support the new structure.
A fundamental question in data protection laws has always been whether (and under what conditions) a person can claim damages for violations of data protection laws, in the event that such person cannot pinpoint to any specific and actual loss that has occurred as a result of the violation. The Court of Justice of the European Union (the CJEU) has now given an answer to this question in the recent ruling in case 300/21 - UI v Österreichische Post (the Österreichische Post Case), which is the first case dealing with an individual’s right to compensation for non-material loss for breaches of GDPR and discusses whether a GDPR infringement automatically grants a right to compensation and the relevant considerations that are in play.
The EU has recently published the 2023/970/EU Directive (the Directive) to strengthen the principle of equal pay for equal work between men and women through pay transparency and enforcement mechanisms.
On the 2nd of June 2023, the Supreme Court issued the first judgment against the dismissal of an application/appeal and clarified the meaning of ‘an interested person’ for the purposes of Article 44 C (2) and Article 44IE of the Transfer and Mortgage of Property Law of 1965 (N.9/1965) (the Law).
We're thrilled to share that Harris Kyriakides is collaborating for the tenth consecutive year with the University Of Oxford and The Careers Service, University of Oxford. Together, we're offering incredible summer internships to Oxford University law students in Cyprus. Our law internship experience combine academic excellence, professional growth, and cultural enrichment.
The Transfer and Mortgage of Property (Amended) (No. 5) Law of 2023 (the Bill) was introduced in the House of Representatives on 25/5/2023. The purpose of the Bill is to safeguard the mortgagor’s and other interested persons’ right to take legal action before the Court in order to suspend the sale of a mortgaged property in certain circumstances which include disputing the amount due, challenging the lawful registration of the mortgage and questioning the existence of abusive clauses in the loan or in the mortgage agreements.
The Cyprus Bar Association has just published the May 2023 Issue of Nomiko Vima. In this issue, our partner Nicolas Kyriakides, our junior associate Konstantinos Giallouridis and our trainee associate Cleopatra Khattab summarised the 2nd Annual Symposium of the Procedural Law Unit of the University of Nicosia. The general theme of the conference was “European Civil Procedure After Brexit: delays and need to speed-up, technology in justice and ADR”.
In solidarity, we thrive! Harris Kyriakides proudly supports the LGBTQIA+ community this Pride Month, embracing diversity, fostering inclusivity, and championing equality.
Our partner Nicolas Kyriakides during the 13th Nicosia Economic Congress appeared on InBusinessNewsTV explaining that the narrative around the justice system should change.
We are delighted to announce our upcoming open day exclusively for UCY Students. Join us on June 9th, 2023 at our offices in Larnaca for a unique opportunity to engage in meaningful discussions with our lawyers and gain valuable insights into future career prospects.
The Commission for the Protection of Competition of Cyprus announced that it has issued new regulations governing the leniency rules applicable in cartels and restrictive collusion arrangements in Cyprus.
We recently had the opportunity to catch up with our trainee lawyers to gain insight into their experiences during our Annual Traineeship Programme. From working in diverse teams and exciting challenges to receiving comprehensive support and mentorship, our trainees develop the skills and expertise they need to succeed in their legal careers.
Council of Ministers issues an order applying a cap of 6% on rent increases for properties falling under the remit of the Rent Control Law of 1983 as amended (the Law).
Our partner Nicolas Kyriakides participated as a panellist in the round table discussion on "More Efficient and Speedy Justice" of the 13th Nicosia Economic Congress, where the panelists delved into the challenges faced by the justice system in Cyprus and emphasised the crucial significance of enacting pivotal legislations to reform the justice system.
Harris Kyriakides is pleased to participate at the 13th Nicosia Economic Congress, which will take place on Tuesday, May 9th. As the economic model continues to evolve, businesses face both challenges and opportunities. The 13th Nicosia Economic Congress aims to address these critical issues and provide insight into the future of the business community.
In a Judgment dated 17 February 2023 Harris Kyriakides representing a reputable Cypriot Bank (the Plaintiff) successfully obtained a judgment against a Company under Liquidation (the Company) in a claim relating to a number of credit facilities and relevant securities.
On 20th April 2023, the European Parliament gave its final approval to the new Markets in Crypto-Assets Regulation (MiCA) with 517 votes in favour and 38 against. The Regulation forms part of the EU’s wider digital financial framework and aims to promote the use of new financial technologies and ensure consumer protection and financial stability across the EU.
A recent ruling by the EU Court of Justice (the CJEU) has brought clarity to the extent of legal professional privilege (LPP) under EU law and found that LPP applies to all communication between clients and EEA-qualified external lawyers.
An integral aspect of the obligations imposed by EU sanctions is the obligation to report information on funds and economic resources that have been frozen or should have been treated as frozen as a result of designation of individuals or entities in the EU Sanctions List.
The European Commission has recently proposed a new Directive to make it easier for companies to use digital tools and processes in EU company law, including in Cyprus. This proposal is the second step of digitalisation for EU company law, building on the 2019 Digitalisation Directive (EU) 2019/1151.
The Ministry of Finance has decided not to further promote the bill on “Distributed Ledger Technology Law”.
Calling all talented students! Join Harris Kyriakides at the Career & Business Expo 2023 by UCY Career Center. We will be there until 3:30pm to discuss exclusive job positions and internship opportunities.
The recent amendments to Article 111 of the Constitution, the Marriage Law (Law 104/2003), the Family Courts Law (Law 23/1990) and the Law on Attempted Conciliation and Spiritual Resolution of Marriage (Law 22/1990) contributed to the urgent and long sought modernisation of the old family law, which was not in line with European and international standards.
Discover an overview of our Real Estate Practice; our Real Estate team is featured in this month’s IMH Gold Magazine “Large-scale real estate developments in Cyprus”.
Harris Kyriakides proudly supports the UCY UN EU Club Cyprus delegation to Harvard WorldMUN 2023, empowering the next generation of leaders to engage in impactful discussions and address global challenges with innovative solutions.
Harris Kyriakides attended the 23rd Annual Career & Internship Exhibition 2023 of the European University Cyprus held yesterday. Our dedicated team was thrilled to connect with aspiring professionals sharing how their skills and passion could align with our dynamic organisation.
Our summer internship programme is designed to give an insight to what Harris Kyriakides is really like.
Discover the latest insights of the insurance law team at Harris Kyriakides in the InBusiness Magazine “Insurtech 2023” special feature, as our partner Nicolas Kyriakides explores our comprehensive range of legal services and examines the upcoming challenges facing the insurance industry.
On 24 February 2023 the European Union (“EU”) has approved a tenth package of Russia sanctions. The package includes tighter export restrictions regarding dual-use goods as well as measures against entities supporting the war, spreading propaganda or delivering drones used by Russia. Specifically, this package contains the following elements:
The International Institute for the Unification of Private Law (UNIDROIT) has published its draft principles and commentary on Digital Assets and Private Law.
In a Judgment dated 13 January 2023 Harris Kyriakides representing a reputable credit acquisition company (the Plaintiff) successfully obtained a judgment against Defendants 2, 3, 4, 5 and 6 (the Guarantors) in a claim relating to credit facilities. In relation to Defendants 1, 7, 8 and 9, a judgment in agreement was obtained against them on 2.12.2022 and their counterclaim was retrieved without costs.
The European Parliament and the Council on 24 November 2021 adopted the Directive (EU) 2021/2118 aiming to modernise and amend the Directive 2009/103/EC relating to insurance against civil liability in respect of the use of motor vehicles, and the enforcement of the obligation to insure against such liability.
The Department of the Registrar of Companies has recently announced that access to the Cyprus UBO Register has been restored for obliged entities that have AML duties pursuant to Cyprus law.
The Supreme Courts of Cyprus, exercising constitutional powers and having regard to the extensive delays in the adjudication of civil cases before District Courts in Cyprus, has enacted an interim fast track civil procedure for delayed cases.
The European Data Protection Board changes the framework by which data breach notifications should take place under GDPR for non – EU businesses.
The Department of the Registrar of Companies and Intellectual Property of Cyprus announced its intention to strike off all registered Cyprus companies that have defaulted on payment of the annual levy for any year prior to 2022.
On 6 October, the European Court of Human Rights (ECtHR) unanimously found that the extradition of a Taiwanese national to China, which Poland’s courts had cleared earlier, would place him at significant risk of ill-treatment, torture violating his Human Rights.
Following the recent judgment of the Court of Justice of the European Union (CJEU) in joined cases, C-37/20 and C-601/20 issued on 22 November 2022, the Department of Registrar of Companies and Intellectual Property has announced the suspension of access to the Register of Beneficial Owners for the public.
Businesses have until 27 December 2022 to migrate all contracts that use the old standard contractual clauses to the new model contract clauses (i.e. standard contractual clauses) for international data transfers from EU to third countries.
The legislation was prompted by a decision of the Court of Justice of the European Union (CJEU), which allows the district courts to examine cases of unfair terms in their own initiative. This ruling was issued following requests by EU Member States for an interpretation of the EU Directive 93/13 and whether national procedural principles may limit the powers of the national courts when assessing contractual terms which can potentially be unfair. More specifically, the issue that was examined was the following: are principles of national law that do not allow the assessment at the enforcement stage, including the enforcing court of its own motion, because of the existence of prior national judicial decisions, compatible with Directive 93/13?
In the latest issue of Forbes magazine by Phileleftheros, Harris Kyriakides presents how we manage to offer top-quality legal services by merging legal knowledge with innovating ideas.
You can find the article here.
On 22 February 2021, certain provisions relating to the Central Agency for Equal Distribution of Burdens (Creation, Objects, Responsibilities, and Other Related Matters) Law of 1989 (as amended) (No. 2) (the Law) were amended resulting in the imposition of a levy amounting to 0,40% of the sale proceeds arising from all immovable property disposals in the Republic of Cyprus (the Levy).
On 14 November 2022, the Cyprus Parliament endorsed a series of amendments to the law on the Protection of Competition of 2022 (Law 13(I)/2022), on the basis of proposals from the Standing Committee on Energy, Trade, Industry and Tourism.
The Directive (EU) 2019/790 of the European Parliament and of the Council of 17 April 2019 on copyright and related rights in the Digital Single Market (the Copyright Directive) has finally been transposed in Cyprus law.
‘’Being a game changer means not accepting the rules and standards for success set by others but having the courage to go out there, challenging norms and established practices, and forging a new path’’
An informative conference on “New Civil Procedure Rules: Personal Injury Claims” was hosted last Wednesday by the Cyprus Forum of Insurance Lawyers in association with the Limassol Bar Association.
For many years, the law in relation to bereavement damages has been outdated and is not reflecting today’s modern society and ensuring a level playing field across the UK and the rest of the world including Cyprus.
Pursuant to an amendment to the Transfer and Mortgage of Property Law (the TMP Law), on 10 November 2022, the Cyprus Parliament introduced a suspension to foreclosure processes until 31 January 2023. The amending legislation amends section 62 of the TMP Law and stipulates that the application of the provisions of Part VIA of the Transfer and Mortgage of Property Law regarding the sale of mortgaged properties is temporarily suspended until 31st of January 2023.
Article 4(7)(b) deals with extra-territorial offences, and allows an executing state to refuse execution where the offence is committed out with the territory of the issuing state and the executing state does not allow prosecution for the same offence committed outside its territory.
On 8 September 2022, under the European Union’s (EU) Unfair Contract Terms Directive, it was held that the application of national case law was forbidden, as replacing an unfair term with a supplementary national provision would likely expose the consumer to harsher circumstances.
CJEU clarification in relation to the scope of the Ne Bis in Idem principle in third-country sentences. The CJEU gave its judgment in relation to the interpretation of article 4(5) of the Framework Decision on the European Arrest Warrant (FD EAW).
New legislation has been passed in Cyprus, providing for the opportunity for ship-owners to establish a Limited Liability Shipping Company (LLSC).
On October 6, 2022, the European Union (the EU) adopted the eighth package of restrictive measures (sanctions) against Russia in response to “Russia's continued escalation and illegal war against Ukraine, including by illegally annexing Ukrainian territory based on sham “referenda”, mobilizing additional troops, and issuing open nuclear threats”.
On 9 June 2022, the Court of Justice of the European Union (CJEU) dismissed the actions brought by Apple Inc. (Apple) against the decisions of the European Union Intellectual Property Office (EUIPO) revoking the "Think Different" trademark (the Trademark) of Apple due to non-use.
The importance for enterprises to know and take action when they identify any event of loss or misplacement of documents containing personal data cannot be overstated.
Great news for Harris Kyriakides Tax Litigation Team, shortlisted among the best Cyprus law firms on tax in the ITR EMEA Tax Awards 2022 for two categories, including “Cyprus Tax Firm of the Year”.
BIMCO issued the new Infectious or Contagious Disease Clause for Time Charter Parties 2022 replacing the 2015 Disease Clause to provide a revised standard clause for Time Charter Parties in cases of future pandemics and epidemics.
The Transfer and Mortgage of Property (Amended) (No. 4) Law of 2022 (the Bill) was adopted in Parliament on 14.07.2022 in order to reinstate the targeted suspension of the foreclosure process until the 31st October 2022. The reason behind the suspension of the process of sale of mortgaged properties is due to the ongoing and intensifying impact of Ukrainian war, as well as the COVID-19 pandemic, have induced on both the economic and social effects.
In the past years, the significant and uncontrollable issue of non-performing loans, alternatively referred to as ‘red loans’, has seen a rise in both private loans and household loans.In comparison with other European Countries, Cyprus holds the highest-ranking of non-performing loans following Greece.
The EU has approved six packages of sanctions in response to Russia's unprecedented and unprovoked military offense against Ukraine. The measures are aimed at limiting the Kremlin's ability to finance the war and cause clear economic and political costs to Russia and to Russian individuals who are connected to the regime.
Harris Kyriakides is pleased to announce our collaboration with University of Oxford and Oxford University Careers Service for the ninth consecutive year, offering summer internships to Oxford University law students in Cyprus.
On 23 February 2022, the European Commission published its proposal for a directive on corporate sustainability due diligence (the Proposal), aiming to apply cross-sectoral mandatory obligations on companies to implement robust processes to manage human rights, governance and environment risks within their own business and value chains.