5 Simple Statements About cyprus law firm Explained
individual bankruptcy These goal at resulting in the debtor to be bankrupt. This stage check here has considerable adverse effects around the debtor such as the prohibition to have checks or become director in organizations.
If a loading buy about the immovable property from the debtor is recorded with the Land Registry, a sale of it could be requested if it’s important to cover the debtor’s dues.
as being the top cross-border debt collection regulation firm, we have use of world wide organization databases and credit reports. in just these databases, we could watch your debtor’s credit rating position, establish why the Bill was not paid and refine our tactic accordingly.
To implement payment with the dues, the debtor should be judged by an authorized court docket. A charge should be paid out for issuing the case towards the court docket. The value of it can be controlled by the corporate Registrar in accordance with the courtroom rules.
In case the amicable strategy fails, escalate the matter through authorized proceedings to get a court judgment, important for debt enforcement.
at the time a judgment is issued, the lawyer will commence with the many appropriate actions and get any action readily available for the execution proceedings.
This could certainly involve sending need letters, generating mobile phone calls, or maybe visiting the debtor in human being. If the debt is uncontested plus the debtor is ready to pay out, this can be A fast and productive way to recover the debt.
The last case situation is when the negotiations fail and there is no other possibility than to move on with initiating courtroom proceedings versus the debtor.
How could you gather the superb debts? Which legislation applies? In Cyprus, your situation is even more complicated simply because a Section of the island is under the control of Turkey and a unique lawful system is de facto used.
In accordance with case law, any quantities compensated to your legal professionals as part of the debt collection in Cyprus (furnished These are acceptable) is usually recovered as damages with the debtor Together with any on the quantities due.
From uncomplicated debt collection conditions to elaborate legal matters, from little enterprises to multinationals across distinct industries, our professionals have assisted around 24.
in the course of the extrajudicial stage, we operate based on a contingency rate. That means our charge is immediately proportional to the quantity we Recuperate. We also goal to Recuperate the curiosity and collection expenditures from the debtor just as much as you can if you want to maximize your revenue.
you'll be able to Stick to the correspondence with all your debtor in Cyprus by way of our web portal 24/7. Additionally, your caseworker will normally contact you by cell phone or in producing to help keep you educated within the progress of your respective debt collection in Cyprus.
just before forwarding The difficulty to an authorized court docket, there will be makes an attempt to solve the debt collection in Cyprus by means of out-of-court docket negotiations.