On the 11th of July 2014, the Cyprus Parliament enacted a new law providing for a new institutional framework governing the establishment and operation of Alternative Investment Funds in the Republic Cyprus.
Apostille is a certification by the Ministry of Justice and Public Order, that the signatures on a document are valid, so that in can be used in countries outside Cyprus. All countries that have signed the Hague Convention of 5th October 1961, among which is Cyprus, accept Apostille.
The ratings agency, Fitch, has upgraded Bank of Cyprus’ long-term Issuer Default Ratings (IDR) to ‘CC’ from ‘RD’ and Hellenic Bank’s long-term IDR to ‘CCC’ from ‘RD’.
By circular IP/14/760, on the 1st of July, the European Commission presented actions to better protect and enforce intellectual rights.
The International Monetary Fund (IMF) has approved the disbursement of €84 million to Cyprus following the fourth review of Cyprus’ economic programme.
The Dominion Bond Rating Service (DBRS) has upgraded Cyprus’ long-term foreign and local currency issuer ratings from CCC to B.
On the 20/06/2014, the Supreme Court of Cyprus ruled in favour of our clients’ appeal to the judgment of the District Court of Limassol, by which our application to set aside the judgment was rejected...