Corporate and Commercial Litigation
The lawyers of the Firm, have an extensive history of representing both, corporate and individual’s clients, in commercial and corporate litigation. We handle a wide range of commercial litigation, including breach of contracts, fraud and misrepresentation, partnership and shareholders disputes, corporate dissolutions, shareholder’s rights and derivative actions, construction disputes, commercial assets recovery, or “collection” cases, etc.
Although, we are proud of our aggressive legal handling, we are very pleased with our friendly “boutique” approach to our Clients. We strive to make your problems, our problems and give them our utmost attention.
Major cases that the Lawyers of the Firm have acted include:
- Advising together with the London and Moscow offices of Quinn Emanuel Urquhart & Sullivan UK LLP shareholders of Cypriot Holding Company owning valuable assets in Russia, on Cyprus law matters, concerning a corporate dispute with minority shareholders (US$ 70 million).
Advising Clients together with the London office of Freshfields Bruckhaus Derringer LLP on Cyprus law issues in the context of numerous consolidated LCIA arbitral cases filed by minority investor/partner in relation to a large number of Cypriot holding Companies owning various metallurgical plants in Ukraine (US$ 500 million).
Acting on behalf of a Swiss Company for the registration and enforcement of an English Court Judgment pursuant to the EU Regulation 44/2001 and applying and obtaining ex parte interim freezing injunctions of a Chambra type (US$ 30 million).
Acting on behalf of a Russian State Bank for applying and obtaining ex parte freezing injunctions blocking assets owned and controlled by the Respondents in aid of an LCIA Arbitral Claim (Euro 45 million).
Acting on behalf of a Cyprus Financial Company in defending and objecting to the recognition and enforcement of an LCIA Arbitral Award issued in favour of a Kazakstan Bank (US$ 600 million).
Action on behalf of a Cypriot Company in objecting to the recognition and enforcement of an ICC Arbitral Award issued in favour of a German Bank, as well as for filing an application to stay the enforcement proceedings until the final hearing of its counter-claim filed before the same ICC Arbitral Tribunal (Euro 80 million).
Acting on behalf of local and foreign defendants in defending an action based on fraud and conspiracy filed by a Kazakstan Bank claiming an amount of US$ 600 million.
Acting as an expert of Cyprus Law in an LCIA arbitral case (Euro 2 million).
Handling on behalf of the Russian MECHEL GROUP of Companies, the defence of an action filed before Cyprus Court on behalf of a minority shareholder of the Russian Coal Mining Company, alleging wrongdoings committed against the Russian Coal Mining Company, by a majority shareholder and claiming damages of more than USD 500 million.
Handling on behalf of the Respondent, the defence of freezing injunctions, issued against them in the context of a personal and derivative actions filed by the minority shareholder of a Russian Company (subject matter: USD 500 million).
Handling on behalf of the Bank of Cyprus the filing of an action for fraud and conspiracy against a number of local and foreign defendants and obtaining freezing injunctions, anti-suit injunctions, discovery orders, as well as the appointment of an interim receiver over the assets of the Defendants (subject matter EURO 350 million).
Handling on behalf of Respondents the defence of twenty two (22) winding up petitions filed by minority shareholders against Cyprus Holding Companies, holding assets in Ukraine of a value in excess of EURO one (1) billion, alleging oppression of the minority.
Handling on behalf of a Respondent the defence against the registration and enforcement of a Russian Court judgment and succeeding to dismiss the enforcement application under the Bilateral Treaty between Cyprus and Russia (subject matter: EURO 30 million).
Handling on behalf of a Respondent an application for registration and enforcement of the decision of a Russian Court, the successful discharge and cancelation of a worldwide freezing order, blocking assets of a value in excess of EURO 100 million.
Handling on behalf of a minority quasi partner the filing of a winding up petition for the winding up of a Cypriot Company and applying for an interim relief blocking the removal of the quasi partner from the position of a director of the joint company (subject matter: USD 300 million).
Handling on behalf of Defendants, the defence of an interim relief granted against them in aid of international commercial arbitral cases including the appointment of interim receivers over their assets (subject matter USD 100 million).
Handling on behalf of certain foreign companies, the successful stay of a Cypriot action filed against them in order for the dispute to be referred to arbitration in Stockholm, Sweden (subject matter: EURO 10 million).
Handling on behalf of a large Russian Financial Company, the defence of an action for the enforcement of international arbitral award of an amount of more than USD 500 million.
Handling on behalf of a quasi partner an action filed on his behalf for the protection of his share in a Cypriot joint venture Company and successfully obtaining freezing injunctions preserving the joint assets (subject matter: USD 100 million).
- Handling on behalf of a large Russian investment Group, for the enforcement of rights acquired by the group over the 50% of the shares in the Russian publisher AST Group and obtaining ex parte interim relief (USD 50 million).
- Handling on behalf of a Cypriot Company owned by a large Russian energy company in objecting and defending a tax claim raised by German authorities against the Cyprus company of more than Euro 1.2 billion and advising on, inter alia, the principles applicable for ascertaining the place of effective management or the place of central management and control of a company under Cyprus law (EURO 1.2 billion).
- Handling on behalf of a Luxembourg Fund for the enforcement and registration of an ICC arbitral award amounting to Euro 17.500.000 in Cyprus, and obtaining ex parte freezing order and the ex parte appointment of an interim equitable receiver over assets beneficially owned by debtor (EURO 17.5 million).
- Handling on behalf of a Cypriot minority shareholder of the Ukrainian FRUNZE GROUP of Companies in an action filed in Cyprus to recover losses sustained due to abuse of rights by the Cypriot majority shareholders of the Ukrainian Companies, obtaining ex parte freezing orders, and succeeding to dismiss jurisdictional objections raised by the local defendants (USD 150 million).
- Handling on behalf of BANK OF AMERICA in a Cyprus action to recover stolen funds, succeeding to obtain freezing injunctions and finally obtaining judgment on the merits recovering all stolen funds (USD 4 million).
- Representation of the Russian Aluminium Group in the Cyprus aspects of its multinational battle with the Zhivilo Family;
- Handling on behalf of RUSSIAN ALUMINIUM and BAZOVY ELEMENT the Cyprus proceedings lodged in relation to the transactions effected for the acquisition of INGOSSTRAKH INSURANCE, AUTOBANK and other assets valued approx. USD 500 millions.
- Acted for the majority shareholders of Evraz Group in the cross-border dispute with a minority shareholder; (USD 500 million)
- Handling on behalf of BAZOVY ELEMENT and the RUSSIAN ALUMINIUM GROUP the Cyprus proceedings lodged in relation to the acquisition of the NOVOKUZNETSK ALUMINIUM PLANT.
- Handling on behalf of NOVOKUZNETSK ALUMINIUM PLANT two applications for the issue of Mareva injunctions against a Cyprus Company in aid and in support of foreign arbitral proceedings.
- Acted for a minority shareholder for a filing of a multiple derivative action in Cyprus on behalf of overseas and Cypriot companies, holding a Russian oil terminal, obtaining discovery orders and finally succeeding to obtain judgment on the merits (USD 200 million).
- Handling on behalf of a shareholder the dissolution of two Cyprus Holding Companies of eight Ukrainian Energy Companies and succeeding to obtain injunctions blocking their participation in the shareholders meetings of the Ukrainian Energy Companies (Subject Matter USD 200 millions).
- Handling on behalf of a minority shareholder in a Cyprus Ηolding Company, a derivative action lodged against the majority shareholders for a fraud committed against the Cyprus Holding Company, as well as its fully owned Russian, Ukrainian and overseas subsidiaries (Subject Matter USD 50 millions).
- Handling on behalf of a Swiss Company a tracing action against foreign defendants and the freezing of assets located in Cyprus. We succeeded to obtain a Norwich Pharmacal order against defendants and the Banks involved (Subject Matter USD 50 millions).
- Handling a discovery action on behalf of a minority shareholder of a Cyprus Holding Company and the obtaining of a Norwich Pharmacal or discovery interim orders against service providers, trustees, accountants, banks etc.
- Handling on behalf of Bank of America, a tracing action against Cyprus legal entities and obtaining mareva injunctions and discovery or Norwich Pharmacal orders (Subject Matter USD 5-6 millions).
- Handling for Lennox Lewis, the former heavy boxing champion of the world, a claim for tracing of assets, against his ex manager (Subject Matter UK£10 millions).
- Handling on behalf of majority shareholders of a Panamean Company, holding majority stake in a large Russian metal group of Companies, the defence of an action lodged by the heirs of a deceased minority shareholder (Subject Matter USD 140 millions).
- Assisting ALLEN & OVERY on Cyprus law issues for an action lodged before English Courts by a Cyprus Company against various persons for an alleged fraud of USD 150 million approx.
- Handling the Cyprus proceedings on behalf of the famous Ukrainian Football Club “DYNAMO KIEV” filed by one of its shareholders and defending successfully an application for discovery or Norwich Pharmacal.
- Assisting WALKER SMITHS, the BVI Lawyers of the Ukrainian Football Club “DYNAMO KIEV” to defend successfully a discovery action issued by a minority shareholder in BVI Courts.
- Handling an action lodged by a Cyprus Company against a director for fraud and obtaining freezing injunctions and an order for the appointment of an interim receiver over his assets in Cyprus and overseas (Subject Matter USD 1.5 millions).
- Handling a dispute between Russian and American Shareholders of a Cyprus Holding Company of various Russian telecommunication companies and obtaining injunctions blocking the convention of shareholders meetings (Subject Matter USD 40-50 millions).
- Handling the Cyprus action lodged by a Russian Company to recover a loan of USD 35 millions granted to a Cyprus Company and succeeding in obtaining an injunction freezing the assets of the Cyprus Company, as well its foreign subsidiaries.
- Handling the Cyprus proceedings lodged against two Cyprus Companies by foreign companies for breach of an agreement and succeeding to discharge the ex-parte injunctions issued and also to stay the Cyprus proceedings due to an arbitration clause (Subject Matter USD 5-7 millions).
- Handling various derivative actions lodged by minority shareholders of Cyprus Companies against the majority shareholders and their management for fraud and/or oppression on the minority.
- Handling on behalf of shareholders, disputes arising out from deadlocks in Cyprus holding companies and/or breaches of Shareholders Agreements or Joint Venture Agreements.
- Handling a claim lodged before Cyprus Courts by a state owned Greek Insurance Company against a Cyprus Reinsurance Company and a broker for breach of a reinsurance contract (Subject Matter USD 5-10 millions).
- Advising together with the International Law Firm Reed Smith, the multi-national group Johnson & Johnson, on various issues of Cyprus law concerning a distributorship agreement, and its termination as a result of a claim raised by a local distributor.
- Advising together with the International Law Firm REED SMITH, MICROSOFT on various issues of Cyprus law concerning the registration and protection of intellectual property rights.
- Handling on behalf of respondents of extradition proceedings, requests for their extradition to various countries pursuant to the European Convention for Extradition of Fugitives.
- Handling a dispute which has arisen between the shareholders of the Ukrainian Airway Company “AEROSVIT”.
- Handling a dispute which arose between the Pharmaceutical Company BRISTOL MYERS SQUIBB and its local distributor (Acting for BRISTOL MYERS).
- Numerous derivative actions lodged by minority shareholders against majority shareholders for claims of fraud, breaches of trust, etc;
- Handling on behalf of a Cyprus holding Company an action for the cancelation of an arbitral award obtained through fraud for the transfer of a valuable asset situated in Ukraine and obtaining an interim injunction staying the validity and enforceability of the fraudulent arbitral award (subject: US$ 10-15 million).
- Handling on behalf of a Cyprus Company an action against various foreign legal entities and individuals claiming damages for losses sustained to the issue of an arbitral award obtained through fraud and succeeding in obtaining of Chabra type freezing orders blocking assets of the respondents, as well as Norwich Pharamacal orders (subject: US$ 10-15 million).
- Handling on behalf of four foreign defendants the opposition and discharge of freezing orders issued in the context of an action filed by foreign claimants claiming the setting aside of numerous transactions for the transfer of assets relating to the MOSKVA HOTEL PROJECT (Four Seasons Hotel Moscow) on inter alia the grounds of duress, coercion and economic duress as well as damages (Subject Matter of injunctions: US$ more than US$ 6.5 Billion).
- Handling on behalf of a Cyprus holding Company a claim against Cypriot and foreign entities, as well as against numerous foreign and Cypriot individuals, for a claim for losses suffered by the Cypriot holding Company it its capacity as a minority shareholder of an Ukrainian Company, due to fraudulent disposal of assets, effected by the majority shareholders of the Ukrainian Company, in violation of inter alia Section 13 of the Civil Code of Ukraine, and successfully obtaining freezing orders, blocking assets of the Respondents, as security for any judgment to be issued (US$ 150 million approx.)
- Handling a derivative action filed in Cyprus by a minority shareholder in a Cyprus holding company through numerous foreign subsidiaries owning a port terminal in White Sea Russia (multiple derivative action) and succeeding to obtain Norwich Pharmacal orders (subject: US$ 100 million).
- Handling on behalf of the minority shareholders of the corporate structure, owning and controlling the production and distribution of the famous Ukrainian NEMIROFF VODKA, an application of Interim injunctions in aid and/or in support of LCIA Arbitration proceedings filed against the majority shareholders for the violation of the terms of a Shareholders Agreement.(USD 100 million)
- Acting on behalf of a large Russian Bank for the enforcement, in Cyprus, of two Russian Court judgements and obtaining ex parte interim freezing injunctions and the ex parte appointment of an interim equitable receiver, over the assets beneficially owned by judgment debtor (USD 47 million).
- Acting on behalf of the foreign reinsurers of the Vasiliko Power Station, which was damaged, due to the tremendous explosion of 100 containers of ammunition, stored at the Mari Naval Base of the Republic of Cyprus, and advising them on insurance and reinsurance issues. (SUM: EURO 350 Millions apprx.)
- Handling on behalf of defendants, the defense of an action, filed by the Kazakhstan BTA BANK to set aside on the ground of fraud and/or collusion, of a Cyprus judgment issued, relating to the rights of ownership and management of the Russian VITINO PORT, as well as handling the opposition and discharge of the ex parte injunctions obtained by BTA BANK in the context of such an action (SUM: USD 250 Millions apprx.)
- Handling on behalf of defendants, the defense of an action, filed by the Kazakhstan Oligarch MUKHTAR ABLYAZOV, to set aside on the ground of fraud and/or collusion of a Cyprus judgment issued, relating inter alia to the rights of ownership and management of the Russian Vitino Port at White Sea, as well as handling the opposition and discharge of ex parte injunctions obtained in the context of the above action (SUM: USD 250 Millions).
- Advising a minority shareholder in corporate structure owning and controlling a wide network of pharmaceutical stores in Moscow.
- Handling on behalf of the members of the Irish Quinn Family, an action against inter alia the ANGLO IRISH BANK, to set aside pledges of shares of Cypriot Companies, on inter alia the ground that the underlined Loan Agreements, were tainted with illegality, under Irish Law, because the loans were allegedly granted by the Anglo Irish Bank to finance the purchase of its shares, and successfully obtaining ex parte injunctions blocking inter alia ANGLO - IRISH BANK and its agents and servants from taking any steps to enforce the pledges. (SUM: EURO 500 Millions)
- Acting as an expert on issues of Cyprus law, and preparing and presenting expert reports on inter alia, the nature and enforceability of pledges of shares of Cyprus Companies, before English Courts.
- Acting as an expert on issues of Cyprus law and preparing and presenting expert opinion on inter alia issues relating to Company Law, Civil Procedure, lis alibi pendens etc before Irish Courts.
- Acting as an expert on issues of Cyprus law and preparing and presenting experts reports on inter alia the repudiation of arbitration agreements, lifting the veil of a Cyprus Company, enforceability and binding effect of arbitration agreements on non signatories etc before an LCIA arbitral tribunal.
- Handling numerous cases for the registration and enforcement of foreign judgments on the basis of either the provisions of the EU Regulation 44/2001, or on the basis of Bilateral Treaties or at Common law (i.e by a fresh action - specially endorsed writ of summons).
- Handling the registration of interim injunctions, discovery orders, Anton Piller orders etc issued by Courts of Member States of EU pursuant to Article 31 of the EU Regulation 44/2001.