Nasia Papakonstantinou

Senior Counsel

Phone: +357 25 871599

  • LLB Law, National and Kapodestrian University of Athens, Greece, 2007
  • Admitted to the Cyprus Bar, 2008
  • LLM European Law, University of Leicester, UK, 2012
  • Licensed Insolvency Practitioner, 2019
  • Cyprus Bar Association
  • Cyprus Insolvency Service
Sample Work
  • For many years now, the firm has been receiving banking litigation work from various local banks. Currently, we are one of the main counsel firms of the largest private bank in Cyprus and we continuously handle more than 500 cases going through the courts for recovery of various amounts. Another major bank in Cyprus is mainly represented against debtors and guarantors by our firm and currently we handle more than 200 court cases. In the above scope we are also handling cases relating to the foreclosure of mortgaged properties and interim proceedings relating to the foreclosure/private auction of the mortgaged properties according to Part VIA of Law N.9/65. Additionally, we provide the banks with legal advice regarding out-of-court matters and enquiries. The total aggregate value of the claims exceeds EUR 200 million. One example of a recent case is: we are now representing the bank against a debtor-company being a member of a large international group of companies operating in various industries, and its guarantors for the recovery of around €45 million and we are in the process of proceeding, among others, with an application for worldwide freezing orders against the defendants’ assets.
  • We were assigned by a major Greek bank to undertake the Registration and Enforcement of a judgment originating from an EU Member state. Following a search into publicly available information, we identified that the judgment debtor had alienated the shares of a company, which held assets on behalf of the debtor, to a third party. The third party was also a debtor to the judgment debtor. We promoted Norwich Pharmacal application as well as successfully attached the assets of the company in the amount of EUR 7,5 million, which were then used as repayment of part of the judgment debtor’s debt.
  • We are providing legal advice to clients in relation to all matters arising out of or in connection with the commencement and completion of liquidation procedures. Our licensed Insolvency Practitioners are being appointed by members and creditors of various companies as Liquidators and are successfully completing the voluntary and compulsory liquidation procedures in a timely and efficient manner. Currently, we are providing legal advice to one of the leading foreign banks in relation to the compulsory liquidation of Cyprus Companies.
  • We are representing the client within the context of an application filed for the registration and recognition of a foreign arbitral award issued in favour of a listed company, located in Luxemburg, for the amount of approximately EUR 37 million. We are also defending the client and its subsidiary companies within the context of an interim freezing order that the opponent obtained on an ex parte basis against the client and its subsidiary companies, holding assets/properties of significant worth. The case is of particular importance as the Applicant does not have a claim against the subsidiary companies, since the award was issued solely against the client, which is the mother company, but it nevertheless managed to freeze their assets, without even alleging that they are chabra defendants or that they hold assets for the client. Both the application for registration and recognition of the foreign arbitral award and the application for interim order are pending before the Cyprus Courts and their hearing will take place during the next months.
  • We are representing the client, a leading international commercial bank, within the context of an administrative recourse which will be filed before the Administrative Court of Cyprus. The case is of particular importance as the Applicant will challenge the decision of Cysec as being void ab initio and/or illegal and/or with no legal effect.
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