Karamanolis & Karamanolis LLC is usually a boutique firm specialised in business and company Litigation and Arbitration. The founders of the firm are knowledgeable and passionate specialists who are actually on the forefront of numerous considerable industrial circumstances of your earlier yrs.
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course of action for Debt Collection in Cyprus In website Cyprus, debt collection in relation to industrial transactions presents the creditor with automated entitlements. This relies on Directive 2011/seven/EU on combating late payment in industrial transactions which delivers for the subsequent:
A Portion of our team of lawyers in Cyprus are accredited mediators who expertise in mediation proceedings, we have the know-how of what it requires to become a negotiator. We use these capabilities to enhance our Cyprus debt collection course of action and provide the ideal outcome with the client.
it is necessary to note that this is a separate process from debt collection and will be managed by a legal Expert.
Every circumstance depends on its possess specifics; even so, our encounter reveals that A very powerful components are persistence and timing.
just in case the debtor is actually a all-natural individual we will require the customer to deliver us with any details that they have got to the whereabouts on the debtor in an effort to aid us With all the debt collection course of action. In Cyprus, lawyers can accumulate all information and facts associated with debtors plus the starting point would be the shopper.
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“Bierens is usually a very powerful and professional partner. not just do they have a very good debt collection procedure, In addition they give sound assistance.”
In accordance with scenario law, any amounts paid into the legal professionals as Element of the debt collection in Cyprus (furnished They're sensible) is usually recovered as damages from the debtor In combination with any from the quantities owing.
Creditors generally deliver desire letters to debtors with the assistance of our Cypriot debt collection lawyers, outlining the quantity owed, payment conditions, and the implications of non-payment.
possessing fatigued all achievable out-of-Court lawful selections and subsequent the Guidelines of the customer, We are going to then carry on to concern Court proceedings in opposition to the debtor. based on the situations of every case, it could be achievable and proper to file an interim buy in opposition to the debtor’s immovable property or, even, freeze his financial institution accounts up until finally the amount owed to the creditor.
Cypriot debt collection activities are controlled by purchaser safety laws, prohibiting abusive or harassing techniques in the collection course of action.
Debt collection can be quite a complicated and time-consuming approach for individuals and enterprises alike. At Chambers & Co, our knowledgeable legal professionals specialise in all aspects of debt collection in Cyprus, making sure the prompt Restoration of remarkable debts whilst retaining professionalism and integrity.