Cyprus: Debt Capital Markets

Cyprus has enacted significant amendments to its judicial framework governing disputes over credit facilities secured by primary residences. The new legislation expands District Court jurisdiction to examine not only outstanding debt balances but also broader contractual issues including overcharges and unfair terms, while establishing specific procedures for challenging enforcement notices against mortgaged homes.

Cyprus law provides a structured framework for debt recovery. The outcome, however, depends heavily on the facts. A creditor must consider not only whether the debt is legally due, but also whether the debtor has assets, whether the claim is properly documented, whether there is a realistic defence, and how any judgment can actually be enforced.

The Survey on External Financial Statistics (EFS) is a mandatory quarterly reporting requirement for selected Cyprus entities conducting cross-border financial transactions. Understanding the legal framework, submission deadlines, and potential penalties is crucial for compliance with Central Bank of Cyprus regulations and avoiding fines that can exceed €85,000.

Following the passing away of a close family member or a relative, there is a difficult but necessary legal process to be followed so that any liabilities/responsibilities of the deceased person...

Mr. Petros Ioannides, who has been appointed as liquidator (the "Liquidator") of the branch of FBME Bank Ltd in Cyprus (the "Branch")...

In times of financial difficulty, the Personal Insolvency (Personal Repayment Plans and Debt Relief Order) Law of 2015 in Cyprus provides a structured way for debtors to manage their debts while protecting their principal residence.

The issuance of a charging order comprises an alternative means of enforcement which is accompanied by an order for sale of the charged asset under the Law on Charging Orders of 1992 (31 (Ι)/1992)

Under Cyprus Law, a pledgee, in the event of default of the pledgor.

Banks have a number of legal mechanisms at their disposal with a view to safeguarding their interests in circumstances where they are owed money by defaulting customers...