TUESDAY, 20 FEB 2018



Facebook Linked In Twitter

Syllouris: Cyprus Solution Exclusively Depends On Turkey Stance

Kouyialis: Cyprus Expects EU to Maintain Improved Direct Payments System In Future CAP



Michalis Economides: Certified Liquidator & Insolvency Practitioner

Michalis Economides: Certified Liquidator & Insolvency Practitioner

According to the provisions of the current legislation and specifically as per the Insolvency Consultants Law of 2015 and the Insolvency consultants Regulations of 2015, a certified insolvency consultant may act on behalf of legal entities (companies) as a liquidator, interim liquidator, receiver, administrator or evaluator. Also, a licensed insolvency consultant may act on behalf of a physical person, as a bankruptcy administrator, a temporary receiver of his/her property or a special administrator of his/her property or business, or as a consultant concerning repayment schemes and loans restructuring.

Michalis Economides, CEO of the international law firm Chambersfield Economides Kranos and GFA Trust,  a specialized corporate and fiduciary services provider, is a certified liquidator and insolvency practitioner who is legally entitled to act on behalf of both legal entities and physical persons for purposes of restructuring of their debts.

An advocate and legal consultant, who is also a certified liquidator and insolvency practitioner, is able to act as a liquidator, administrator, evaluator and loan restructuring consultant.  Also, he has the capacity to act on behalf of the clients by representing their rights both in out-of-court compromises and in cases before the court.

Moreover, the lawyer / certified liquidator and insolvency practitioner, has the knowledge of examining whether the legal entities and/or physical persons have the competence to repay their debts.   Thus, he may provide them with several consultative restructuring plans that aim to activate the appropriate dealing mechanisms of the debts, i.e. through restructuring or lengthening the repayment period of the due amount or swapping with a real estate option (SWAP) etc.

Consequently, the purpose of the lawyer / certified liquidator and insolvency practitioner, is to achieve the best possible outcome, for the legal entity and/or a physical person, which will be in line with their financial capabilities, but at the same time, will meet the eligibility criteria and conditions, required by the legislation.




Constantinos Ioannou Appointed as New Minister of Health

President Nicos Anastasiades has appointed businessman Constantinos Ioannou to take over ...

The Ambassador of Corporate Risk Culture

For the last 15 months, Stefano Capodagli has been Group Chief Risk Officer at Hellenic ...

Cypriot Scholar Receives Harvard Bowdoin Prize

Argyro Nicolaou, a Cypriot writer and filmmaker, has been awarded one of Harvard ...



Ikea Joins Big Clean Switch to Offer 100% Renewable Energy Tariff

Joint venture claims cheaper green power could save UK households £300 a year Ikea is calling for households to join its latest joint venture ...

Cyprus Records Deflation Of 1.5% in January

Cyprus recorded deflation of 1.5% on an annual basis in January, official data released on Monday 20 February show.   The Harmonized Price Index for ...

Kouyialis: Cyprus Expects EU to Maintain Improved Direct Payments System In Future CAP

Cyprus expects the EU to maintain the role of direct payments as a means of supplementing and supporting agricultural incomes during the revision of the EU ...

HSBC Profits Jump to $17.2bn on Asia Growth

HSBC has posted a pre-tax profit of $17.2bn (£12.3bn) in 2017, saying its focus on Asia was driving growth. The results represent a 141% jump on the ...

KFC in UK Closing 900 Outlets

KFC has closed more than half of its 900 UK outlets after delivery problems meant they ran out of chicken. Last week, the fried chicken chain switched its ...

Significant Distinctions for Louis Hotels on Tripadvisor

2018 began very positively for Louis Hotels as it achieved high scores for 20 distinctions through the popular travelling website Tripadvisor. In fact, three ...

TUS Officially Launches Its Direct Flights to Ioannina

The Cyprus-based TUS Airways: "The Ultimate Schedule" officially launched, on Friday the 16th of February, its new route from Larnaca to Ioannina. ...

Production in Construction up By 0.1% In Euro Area For December 2017

Seasonally adjusted production in the construction sector in December 2017 compared with November 2017, increased by 0.1% in the euro area (EA19) and by 0.6% ...