Firm’s Presentation 64, Agias Fylaxeos, Aristodemou Building, Office 302, 3025 Limassol, Cyprus Telephone: +357 25 745575 , Fax:+357 25 745525, E-mail: info@kourtelaw.com
About the firm P. N. Kourtellos & Associates LLC provides a full gamut of legal services to businesses and corporations operating and investing in Cyprus. We are an independent and dynamic law firm, one of the new generation of Cyprus law firms who are breaking ground and rethinking the practice and the substance of law.
Our Services: • Legal Services • Fiduciary Services • International Arbitration & Alternative Dispute Resolution • Complex Commercial/Corporate Litigation • Companies ’ formation • Business Crime & Commercial Fraud • Corporate management and administration • Financial Services Advisory and Counseling • Provision of shelf-companies • Representation before Regulatory Authorities • Provision of registered office address • Constitutional Law & Administrative Law • Provision of nominee corporate or individual • Real Estate & Property Law directors and shareholders • Trusts & Asset Protection • Company secretarial services • Intellectual Property Law • Company management and administration services • Banking & Finance Law through appointed directors and company • Insolvency Law administrators • • General Corporate & Commercial Law Opening and administration of bank accounts • • Mergers & Acquisitions International Trust Services • • Corporate Fiduciary Services Custodian services • • Set up and administration of Cyprus Investment Liaising with the Registrar of Companies of Cyprus Funds (ICIS & UCITS)
Overcoming the Financial Crisis in Cyprus Following Greece, Ireland and Portugal, in 2013 Cyprus became the fourth country of the Euro Area to enter into an official borrowing arrangement with the rest of the Euro Area. Yet the Cypriot rescue was extraordinary, the most dramatic among the four. Following the March 2013 bail-in of large bank depositors and the subsequent crisis, Cyprus faces major challenges and risks during 2014 and 2015. The first challenge is to ensure financial stability and lift all capital control restrictions. Another challenge is to move fast with structural reforms, gain credibility in fiscal policy and ensure the recession ends by 2015. Representatives of TROIKA [ EU/IMF/ECB] have approved Cyprus’ bailout progress for the fourth time, saying that the government is on track and meeting fiscal targets for the first quarter of 2014 with considerable margin. With the new, 29th Decree on Restrictions of Banking Transactions, all continuing restrictions on transactions within the Republic of Cyprus were lifted, following the schedule of the relaxations road-map which had been agreed on August 2013. Limits on transactions carried out outside the Republic of Cyprus are still in force as per the last Decree; the Decree affecting International Banking Institutions has been re-issued with no changes as to the restrictions.
Top Reasons to Invest In Cyprus: Taxation Legal Framework • • a) Cyprus offers one of the most attractive tax Pro-business, based on common law, Accounting and systems in Europe. The country provides a simplified, Legal transparency effective and transparent tax regime that is fully compliant with the EU laws and regulations. • a) The legal system is based on the U.K. Common Law principles and aligned with the EU laws and • b) Dividend income for non Cypriots is tax fee. regulations (Acqui Communaitaire). Profits from overseas permanent establishments and profits from the sale of securities are exempt from • b) Cyprus provides quality legal services in areas tax. Also, there is no withholding tax on dividend, such as international law, corporate administration interest and royalties paid from Cyprus. and management services. Most large legal firms are affiliated or collaborate with international law firms. • c) Most international transactions are exempt from VAT. • d) Cyprus has a network of double taxation agreements with more than 48 countries
Our Philosophy: “ Fa Facta cta non on Ver erba ba ” • The Latin phrase "Facta non Verba" constitutes our firm's motto meaning "Deeds not Words". This quote encompasses our firm's philosophy in practicing the law and providing legal service to the client. • We have a sophisticated understanding of business and corporate law and the implications of commercial and business litigation and we provide legal advice, counsel and aggressive litigation services and legal advice to individuals and corporations. Commitment to these principles enhances our reputation both within the judiciary, other lawyers and the clients. That is exactly what is offered by our law firm. • Our legal team specializes, among other, in complex commercial disputes with particular focus on corporate disputes, business crime and commercial fraud. The recent years have seen our firm securing precedent-setting victories in the area of disclosure of information and confidentiality, the tracing of assets, arbitration law and insolvency proceedings.
Our Deeds: testimonial of our work Commercial Litigation • Obtaining WFO/ Mareva type order (world-wide freezing order) against Cyprus and foreign companies under the control of a major Russian group dealing with media and pictures distribution, subject matter in excess of USD 400m. • Handling before Cyprus Courts and obtaining on behalf of foreign entity on ex parte a world-wide Mareva injunction over the Defendants’ assets, Norwich Pharmacal type orders (disclosure orders) and Gagging orders against Cyprus Bank based on fraud and conspiracy grounds and alienation of assets. • Successfully representing the Defendant-Respondent in respect to fraud and conspiracy claims raised by entities affiliated to Rusal Group, a leading, global aluminum producer and one of the world’s major producers of alumina, and obtaining judgment against the use and/or an order preventing the use inside jurisdiction and abroad of confidential documents illegally obtained and/or disclosed on behalf of a Cyprus Bank. The judgment sets a case precedent in respect to the issues resolved. • Acting on behalf of the Defendant-Respondent in contempt proceedings relating to the jurisdiction of the Cypriot Courts to issue disclosure orders (Norwich Pharmacal) following disclosure of a number of documents and information in accordance with the judgment in Avila Management Services Ltd e.a. – v-Frantisek Stepanek e.a. Civil Appeal 54/2012, 27/6/2012, (the “STEPANEK”) one of the very few adjudicated cases of this nature on appellate level. After hearing judgment delivered in favour of all the Defendants-Respondents the contempt proceedings therefore being dismissed and rejected. •
International Commercial Arbitration related disputes • Currently acting for he Receiver/Manager of a Cyprus Company, we have obtained a world-wide freezing injunction, the main dispute to be referred soon to an LCIA Arbitration to be handled jointly by our firm and a UK based law firm. Subject matter in excess of USD 110 m. • Advising and offering continuous support to a Cyprus Investment Firm, subsidiary of major Russian entity, in relation to LCIA Arbitration proceedings along with Steptoe & Johnson of London, initiated against the company by Alliance Bank of Kazakhstan concerning the alleged misappropriation and/or breach of fiduciary duties seeking damages of Euro 500m. Attending the proceedings as an Expert Witness. • Representing and handling the LCIA proceedings on behalf of an Austrian company in respect to misappropriation of assets and achieving settlement of the dispute before hearing. • Representing, along with an international law firm, the Claimant in shareholder dispute arbitration in London, obtaining interlocutory relief in Cyprus in aid of the arbitration proceedings. Subject matter in excess of USD 150 million. • Obtaining Norwich Pharmacal/Disclosure order in aid of LCIA Arbitration proceedings and in aid of Civil proceedings in Israel. The disclosure order obtained is a hybrid order, the first of its nature in support of intended Arbitration proceedings.
Corporate Finance & Investment Services • Continuing legal support and advising on various projects pertaining to financing and re-financing of companies (drafting pledges, agreements, various instruments, opinions, corporate approvals and resolutions). • Advising and assisting in relation to security provided by Cyprus companies concerning the refinancing of subsidiary companies in Russia, Austria and Poland. • Advising on the cross-border merger of Lithuanian based companies valued at EUR 30 million with a Cyprus based company, involving drafting of necessary documents, review of Articles of Association, liaising with the Registrar of Companies for publication of terms of merger at the Cyprus Official Gazette and filing of all necessary applications before the Cyprus courts for the sanctioning and approval of the cross-border merger. • Advising and representation of various Cyprus Investment Firms (CIFs) before the Cyprus Securities and Exchange Commission (Cysec). • Advising on matters related to Cyprus International Trusts settlements and asset protection vehicles.
Recommend
More recommend
