Ioanna Stavroulia

Partner - Litigation

Phone: +357 25 871599

Area(s) of Practice

  • Law Degree (Athens University, Greece), 1993
  • Admitted to the Cyprus Bar, 1994
  • Cyprus Bar Association
  • Handling on behalf of one of the largest private hospitals in Cyprus a very complicated professional malpractice suit involving questions of clinical practice, methodology and procedure. The Plaintiff requested from our clients an award of damages of over EUR 1 million and our clients’ claim is that the Plaintiff’s damage was caused solely as a result of the Third Party’s negligence (the doctor who treated the Plaintiff at first). The hearing of the case was complex and long-lasting with 13 witnesses in total testifying before the Court, the 7 of which were doctors. The hearing of the case took place in the form of written as well as oral submissions. A judgment was issued in December 2016 in favour of the Plaintiff and against the Polyclinic and the Third-Party for the total amount of €500K, an amount that is much less than the one claimed by the Plaintiff.
  • Representing the liquidators of the Cyprus branch of one of the largest banks in Yugoslavia, which is under liquidation in various countries, in relation to the liquidation procedure in Cyprus. This unprecedented liquidation procedure is considered a landmark case in Cyprus mainly because of the international nature of the liquidation process, its complexity and the large amounts of assets to be recovered and redistributed to creditors. We have successfully represented the liquidators in relation to litigation proceedings existing before the Cyprus Courts initiated by one of the largest creditors (exceeding USD 65 million) of the Bank globally. Furthermore, we are promoting claims against various debtors of the branch on behalf of the liquidators and any interim applications as may be necessary at times.
  • Advised an individual, chartered accountant and partner in one of the “Big Four” accounting firms, in relation to various cases involving his appointment by a major Cyprus bank as receiver and manager of different Cyprus companies. We successfully obtained interim orders on an ex-parte basis, which later became absolute, and we also successfully obtained final orders whereby, among others, it was recognised with a Court order that the appointment of our client as a receiver and manager of the companies is legal.
  • Advised a renowned local hotel group in their dispute with a major European Tour Operator over tourist allocation agreements. Following termination of the Agreement, the Tour Operators have sought interim relief in Cyprus Courts. Our firm has been advising the hoteliers to successfully defend their case against the Tour Operator and to seek compensation for non-performance. Provided advice from the outset of the negotiations to alter the agreement to the Court claims brought against our Clients and subsequent mediation efforts in order to seek an amicable solution.
Sample Work
  • Advising a foreign bank in relation to several facility agreements provided to one of the top 10 nitrogen fertilizer producers in the world. We were instructed to advise on three facility agreements amounting to USD 850 million, USD 7 billion and EUR 450 million, for purchasing purposes, refinancing of loans and repayment of debts respectively.
  • Advised the corporate and investment banking division of an American financial and banking corporation in relation to a USD 150 million margin loan transaction, which involved intra group loans of over USD 200 million, subordination issues, South African share security, security assignment and other security agreements.
  • Advising one of the major banks internationally in relation to the procedure required for the most efficient enforcement of a Cyprus law share pledge, granted to it as security for the EUR 40 million debt and equity financing granted to a foreign company which implements a project of construction and future operation of a plant for the largest production of fuel pellets in the said jurisdiction.
  • Provided extensive advise in relation to the structuring and drafting of documentation between various shareholders of a consultancy company, member of a very prestigious international group of companies, which provides exploration and production drilling services to leading oil and gas companies around the world.
  • Providing advice and assistance to one of the three largest copper producers abroad in relation to various financing transactions involving Cyprus companies and loans in the aggregate amount of USD 200 million.
  • Acted as the Cyprus legal counsel of a major foreign Bank for the restructuring of an existing indebtedness of one of the leaders in the international commercial real estate market.  The restructuring included amendments and restatements of three facility agreements, share pledge agreements as well as sponsor undertaking and option agreements governed by English law. Currently, we are advising and overlooking the redomiciliation of two BVI entities of the group and examining the legal effect of the continuation of these companies to the Republic of Cyprus.
  • Involved in an aviation financing matter in order to provide our assistance regarding the novation of a USD 50 million aircraft financing transaction involving two aircrafts of an international leading provider of aircraft leasing services.  The case involved Cypriot, Greek, Cayman and French entities.
  • Involved in the financing of a 75-metre motor yacht, amounting USD 50 million, made available by a large Swiss Bank.  We provided advice to the group and the Cyprus borrower, as well as other group companies providing collateral in the form of share pledges, ship mortgage, general assignments, and reviewed other BVI documents from a Cyprus law perspective.
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