Believed to be "The Best Cypriot Litigator"
by Chambers & Partners Europe, 2018
Senior & Managing Partner
Phone: +357 25 871599
Area(s) of Practice
Postgraduate Diploma in Law (City University, London, UK), 1984
Barrister at Law (Gray’s Inn, London, UK), 1985
Admitted to the Cyprus Bar, 1986
- Honourable Society of Gray’s Inn
- Fellow of the Chartered Institute of Arbitrators (CIArb)
- International Bar Association
- Cyprus Bar Association
- Society of Trust and Estate Practitioners (STEP)
- Association of International Tax Consultants (AITC)
- Russian Arbitration Association
- International Law Association (ILA)
- London Court of International Arbitration (LCIA)
- International Council for Commercial Arbitration (ICCA)
- Elite Leading Lawyer in Dispute Resolution and Tax practice areas by The Legal 500 EMEA 2019
- Ranked in Band 1 in Dispute Resolution and Corporate & Commercial and in Band 2 in Tax practice areas by Chambers & Partners Europe 2019
- Ranked in Band 1 in Dispute Resolution and Corporate & Commercial practice areas Chambers & Partners Global 2019
- Highly Recommended in Banking, Capital Markets and M&A by IFLR1000 2019
- Representing one of Russia’s major banks in one of the most high profile international arbitration proceedings currently taking place before a Cypriot tribunal. The claim relates to the performance of certain bank guarantees according to which the bank affected the transfer of the amount of about USD 50 million pursuant to the provisions of a certain Russian State Contract the validity of which was later disputed. We have successfully applied and obtained from the Tribunal an order striking out all the witness statements submitted by the other side as inadmissible on the grounds of irrelevance and which fall outside the framework of the Reference to Arbitration. This judgement had significant implications in the context of the case and constitutes a rare occasion where an Arbitral Tribunal exercises its wide powers given by the UNCINTRAL Rules in such a way. We received the Final Award in the favour of our Clients pursuant to which the multimillion-claim of the Claimants is dismissed.
- Acting for one of the largest leading banks of Russia in a lengthy multijurisdictional dispute for the recovery of debt owed to the bank by a Russian high-net-worth individual. The bank has recently been successful in obtaining a bankruptcy order against the said individual and we are currently representing the trustees, the London office of one of the world’s largest accounting and consulting organisations. Consistenly and successfully liaising with the foreign counsel of the bank as well as the trustees in bankruptcy in formulating a litigation strategy and promoting steps in Cyprus for the enforcement of the debt owed to the bank.
- Representing companies within a Group of companies which own an oil refinery in the Russian Federation, caught in a shareholders’ dispute for the amount of more than USD 200 million for alleged breaches of shareholders’ agreement, misrepresentation and fraud.
- Advising one of India’s three largest real estate construction companies, which is also a key player in real estate investments on matters, relating to the enforcement and execution of an LCIA Arbitration Award worth approximately USD 360 million. Our firm has successfully defended the company in the application of the judgment creditor to register one of the Arbitration Awards. This international dispute has received extensive media and academic attention over the last couples of years and its significance lies not only on the high value and prestige of our client but also on the novelty and complexity of the legal matter.
- Providing ongoing legal advice with respect to the restructuring of one of the largest real estate construction and building materials’ production groups in the Russian Federation, as a consequence of de-offshorisation laws. Our involvement included the change of the seat and applicable law of a large trust settlement from a foreign jurisdiction (Bahamas) into Cyprus and undertaking the required actions under Cyprus law for the consequent amalgamation of the re-domiciled company by way of down-stream merger into its Cyprus subsidiary company. Providing further advice after the passing of the Russian de-offshorisation law and the relevant CFC regulations carefully examining tax consequences’ issues arising; additionally provided advice on issues of merger procedure between the group companies, reductions of capital and share premium accounts and major restructuring of the group in general (subject matter value over USD 1 billion).
- Advising one of our high-net-worth Russian individual clients, who owns an interactive online marketing agency, as well as other online platforms, in relation to the settlement of a Cyprus International Trust (CIT) for the purposes of utilizing the same as a wealth management and estate planning tool. We advised on the setting up and registration of the CIT, prepared the relevant documentation and advised on all aspects of the CIT law, including all the related tax implications.
- Seeking to benefit from the Double Taxation Treaties in place between Cyprus and several other countries, including Russia, we have advised a number of companies wishing to transfer their base for tax purposes. We have successfully handled and completed quickly and efficiently numerous re-domiciliation procedures from Jersey, Panama and the BVI to Cyprus, drafting the required by Cyprus law documentation, advising on the procedure and providing our legal opinions on tax matters relating to re-domiciliation to and from Cyprus to our multijurisdictional clientele.
- Advising a number of high-net-worth individuals from Russia, Asia and other non-EU countries on the purchase of premium commercial and residential properties which qualify for the Cyprus Citizenship by Investment Programme. This line of work required advising on the property itself, preparing documentation in relation to the purchase, handling land registry registrations and submission, as well as the submission and handling of the citizenship applications on behalf of the investors/applicants. We have acted independently in assisting the clients select appropriate and qualifying properties, identified tax benefits and structured the purchases carefully so that a balance between tax and immigration benefits is achieved. There is a variety of clients ranging from Russian private investors to major international celebrities, therefore, the services offered by our legal team required careful handling with a bespoke approach on each case; these tasks have been very important to our practice.
- Advising a Russian airline company in relation to the tax consequences and other tax issues arising out of a financing scheme concerning the leasing of Boeing and Airbus aircrafts, involving UAE, Cypriot and Irish entities. We have been providing specialised tax advice in relation to transfer pricing and VAT matters and other relevant taxes.
- Advised a Cyprus public company with respect to the listing of its shares on the Hong Kong Stock Exchange (HKSE). The listing in question was the first ever attempted by any Cyprus company. Attended at HKSE and collaborated with two international law firms in submitting the company application to the Exchange. The project involved continued offering advice to the said company in relation to the restructuring of its application for the public offering of its shares in the Hong Kong Stock Exchange, preparation and submission of the appropriate applications, drafting of specialized Articles of Association and supporting documentation in accordance with the HKSE requirements, issuing legal opinions to the HKSE and the Underwriters and extensive involvement in coordination and implementation of the project.
- 2019 Global Survey on the Commercialisation of Disputes
- Litigation and enforcement in Cyprus: overview
- Arbitration procedures and practice in Cyprus: overview
- Cyprus International Trusts
- 2nd Arbitration Comparative Guide – Cyprus 2017
- ICLG – International Arbitration 2016 – Cyprus
- Chambers Country Practice Guides – International Arbitration 2016 – Cyprus
- Cyprus and the Licensing of CIFs
- Getting the Deal Through – Securities Finance