The relevant provisions relating to the local law of insolvency are found mainly in the Companies Act and the Commercial Code. Moreover as from 1st June 2003, the Set-off and Netting on Insolvency Act regulates the set-off and netting on bankruptcy and insolvency. The Cypriot Insolvency law regime distinguishes between bankruptcies of a person or a commercial partnership other than a company which are regulated under the Commercial Code and bankruptcy of a company which is regulated by the Companies Act.
Chetcuti Cauchi takes a keen interest in the law relating to insolvency and advises clients on various aspects relating to insolvency, particularly on the implications of Cypriot insolvency law in the cross-border context. Our corporate lawyers also advise the directors of such companies on the best manner of conducting business in the context of eventual insolvency proceedings, in order to ensure that they will not incur any liability for wrongful or fraudulent trading. Due attention is also given to provisions of the Cypriot Civil Code which regulates private law matters relating to corporate insolvency, such as the law on set-off.
The relevant provisions relating to the local law of insolvency are found mainly in the Companies Act and the Commercial Code. Moreover as from 1st June 2003, the Set-off and Netting on Insolvency Act regulates the set-off and netting on bankruptcy and insolvency. The Cypriot Insolvency law regime distinguishes between bankruptcies of a person or a commercial partnership other than a company which are regulated under the Commercial Code and bankruptcy of a company which is regulated by the Companies Act.
Chetcuti Cauchi takes a keen interest in the law relating to insolvency and advises clients on various aspects relating to insolvency, particularly on the implications of Cypriot insolvency law in the cross-border context. Our corporate lawyers also advise the directors of such companies on the best manner of conducting business in the context of eventual insolvency proceedings, in order to ensure that they will not incur any liability for wrongful or fraudulent trading. Due attention is also given to provisions of the Cypriot Civil Code which regulates private law matters relating to corporate insolvency, such as the law on set-off.