Harris Kyriakides LLC, acting in association with a UK law firm, has successfully represented a UK based leading insurer and provider of fleet management services in civil proceedings related to the return of stolen vehicles in the UK and traced by Cyprus local authorities in Cyprus.
The vehicles were involved in a car fraud operated in the UK, where non EU nationals bought cars on a hire purchase basis and immediately sold them to Cyprus importers at an undervalue. The cars were sold before settlement of the hire purchase price and in a clear attempt to defraud UK insurers.
The Cyprus Court has lifted an interim order obtained by the Cyprus importer, on the ground that the claim filed against the UK insurer had no reasonable prospect of success.
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