Dispute Resolution and Arbitration

The firm's Dispute Resolution team is especially known for its experience in complex cross-border commercial and corporate litigation and its involvement in local high profile litigation.

We regularly receive referrals from leading international law firms while it has also undertaken the case management of very high value disputes that took place in foreign jurisdictions.

Our firm is a member of exclusive international law networks, a fact which assists it in handling disputes with a foreign element. An example is the International Fraud Group which consists of handpicked law firms from a number of jurisdictions focusing on asset tracing and recovery.

With 18 lawyers in its ranks our dispute resolution team is one of the largest in Cyprus and gives our firm the breadth to handle complex matters effectively.

Our Dispute Resolution Department is consistently recommended for its work by leading international law directories such as the Legal 500 and Chambers and Partners. In its latest edition the Legal 500 described our dispute resolution practice as 'excellent and outstanding'.

Our services
  • Arbitration
  • Commercial litigation
  • Competition and anti-trust proceedings
  • Criminal proceedings
  • Disclosure orders (Norwich Pharmacal orders)
  • Family law applications
  • Debt collection
  • Labour law applications
  • Property disputes
  • Recourse to the administrative court

Our experience

  • On behalf of the German bank Commerzbank our firm filed an appeal to the Supreme Court against a first instance judgment discharging a worldwide freezing injunction that had been issued in favour of Commerzbank. The injunction had been issued in support of arbitration proceedings filed by Commerzbank in Frankfurt against, inter alia, a Cyprus company. This Cyprus company had guaranteed the payment obligations of the buyers of the Ukrainan 'Bank Forum'. Commerzbank was the seller in the said transaction and was alleging that the purchase consideration (exceeding USD 120 million) was due to it. The Supreme Court allowed the appeal and reissued the freezing injunction that had been discharged. It also issued an extensive disclosure of assets order against the Cyprus company. In its judgment the Supreme Court made important observations on the principles relating to the rights of pledgees and more generally on how the first instance judges should exercise their discretion when examining applications for freezing injunctions.

  • Obtained on behalf of the creditor client a mandatory injunction ordering the Secretary of a local company to effect a transfer of shares in the client’s name. This was done on the basis of a share pledge agreement guaranteeing the loan for USD 120 million that had been granted. The previous shareholder then filed a certiorari application to the Supreme Court which was successfully defended by our firm. The mandatory injunction that had been issued by the first instance court was ordered to remain in force and the shares were transferred in the client's name.

  • Applied to have an arbitration award of the Stockholm Chamber of Commerce recognized, registered and enforced in Cyprus. The award was against a Cypriot company and awarded the client amounts in excess of $40 million. In parallel we secured a freezing order over certain of the debtor company’s assets while recognition and enforcement of the award was pending. The case was settled after the freezing injunction was issued with the award debtor paying the full amount of the award to the client.

  • Successfully obtained a number of disclosure orders on behalf of a shareholder of a Cyprus company. The orders were obtained in aid of forthcoming arbitration proceedings before the London Court of International Arbitration involving claims of breaches of a shareholders' agreement that concerns one of the largest distributors of famous clothing brands in Russia.

  • Brought a derivative action and also applied for ancillary interim relief on behalf of a Cypriot company against one of its directors and against the shareholder appointing and instructing the said director for breach of directors' duties and for breach of fiduciary duties. The Cypriot company is the holding company for one of the leading IT companies in Russia.

  • Represented a company which engages in the acquisition, transport, storage, and sale of natural gas in 15 European countries. The company in question had a claim against a Cypriot defendant company for conspiring to defraud it. We successfully obtained a freezing order against the Cypriot defendant company and an asset disclosure order. The orders were obtained on the basis of conspiracy to defraud.

Accolades

  • "Excellent and outstanding firm" Michael Kyprianou & Co. LLC successfully represented Commerzbank in an appeal before the Supreme Court relating to a worldwide freezing injunction (rejected at first instance); the Court granted the appeal and issued the freezing order in favour of the client. Menelaos Kyprianou heads the team, in which Marina Hadjisoteriou is praised for her work.

    2015 Legal 500 Guide

  • "Well versed in international and local corporate disputes, with experience of banking litigation, personal injury matters and real estate cases. Works closely alongside well-known foreign firms on cross-border disputes, and offers English law knowledge within the team."

    2015 Chambers and Partners Guide

  • "They're very co-operative and they have been helpful and dedicated to what they do. " … they have offices in different cities in Cyprus, which is good because they have many points of contact and can move from office to office if they need to."

    2017 Chambers Europe Guide

  • The firm was ranked in the 1st tier in the practice area of Dispute Resolution in 2017 and heading this Department is Menelaos Kyprianou, who has been described as "very capable" and "an excellent litigator." He represents both corporate clients and private individuals in local and international disputes.

    2017 Chambers Global Guide

  • Michael Kyprianou & Co. LLC was ranked in the 1st tier in the practice area of Dispute Resolution. Michael Kyprianou & Co. LLC encompasses a 'knowledgeable and responsive team that has the capacity to work well within large multi-jurisdictional teams and can accommodate the complex needs of those various teams'. Menelaos Kyprianou has been described as 'a very experienced litigator' and Marina Hadjisoteriou 'comprehends complex matters quickly and explains things well to clients'.

    2017 Legal 500 Guide