| Corporate Law
The Mergers and Acquisitions team advised on an impressive range of M & A transactions, receiving instructions on some of the highest profile deals on the island. Amongst them, the team, headed by the Managing Partner P.G. Polyviou, has advised a client on an offshore acquisition of a Russian Bank and a Ukrainian Bank by a national banking institution for €700m and €80m respectively, by far the largest acquisitions by a Cypriot institution abroad as well as the biggest onshore deal worth €288m of the leading Construction and Development company in Cyprus – by an investment fund listed on AIM. The team also defended a Cypriot Bank on hostile takeover bid by another, the bid being eventually withdrawn. Competition Law Chryssafinis & Polyviou LLC maintains its leading reputation in Competition Law issues. Its team, headed by the Managing Partner P.G. Polyviou, represented a National Bank before the CPC during an investigation against the main Commercial Banks on the island and currently represents multinational Petroleum Company with a presence in Cyprus in an ongoing investigation. The team has also filed notifications, both for mergers and joint ventures, and obtained unconditional clearance for numerous transactions before the National Competition Authority. Recent and pending cases before the Cyprus Courts involving, inter alia, multijurisdictional proceedings: • In January 2010 the Firm's Litigation Department succeeded in an appeal before the Supreme Court of Cyprus against a decision of the Family Court of Limassol not to set aside an interim order issued by the freezing almost $12 billion. • In January 2011, the Firm's Litigation Department successfully opposed an interim order issued by the Limassol Family Court freezing more than $160 million worth of assets situated in the British Virgin Islands, Cyprus, the United Kingdom and elsewhere.x • In January 2011, the Firm's Litigation Department successfully opposed an interim order issued by the District Court of Nicosia freezing more than $6 billion worth of assets situated in Russia, Cyprus and elsewhere. • The Firm's Litigation Department has challenged an administrative decision to fine the four Petroleum Companies operating in Cyprus (€41 million collectively) of the Cyprus Commission for the Protection of Competition by way of Recourse before the Full Bench of the Cyprus Supreme Court. In May 2011 the said decision has been quashed a decision of the Supreme Court of Cyprus. • The Firm's Litigation Department is currently representing a US pharmaceutical company in a multimillion claim by a Cyprus Company with activities in Ukraine and Russia. The case is still adjudicated before the District Court of Nicosia. • The Firm's Litigation Department is currently representing a beneficiary to a discretionary International Trust set up in Cyprus with assets of more than $450 million in a dispute between the Trustees and another beneficiary before the District Court of Nicosia. • The Firm's Litigation Department has advised a Seychelles based Company which is minority shareholder in a Cyprus Company in a dispute of almost $20 million. |
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Notable Cases
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