As the Cypriot economy inevitably suffers the consequences of international turmoil, many Cypriot businesses are already facing serious challenges. It is important for lawyers, who usually have an important role in shaping corporate decisions, to be able to recognize the key signs of distress and the risks for the company they provide their services to, and to be able to perceive the legal and practical consequences of the initiatives taken to achieve corporate restructuring. This is also important in the context of the effort to cultivate a corporate rescue culture in Cyprus.
Our associate Ioannis Sidiropoulos will be presenting a CyBar approved seminar, on the topic of “Facing corporate failure; the coupling of law and business strategy and the imminent implementation of Directive 2019/1032 on preventive restructuring frameworks, in Cyprus”, on Wednesday 14 December (in Greek).
The aim of the program is to inform and familiarize lawyers with the usual conditions of corporate failure and, above all, the rescue procedures; in particular, the company arrangements and reconstruction procedures of article 198 et seq., the appointment of the Examiner of article 202A et seq., of the Companies Law, and some of the strategic choices available to corporate management in these cases. Also, in view of the implementation of Directive 2019/1032 on preventive restructuring frameworks in Cyprus, the main points of the relevant upcoming changes in the legal framework will be presented. The goal is for the participants to know and make the best use of the available preventive intervention tools.
To register for the seminar, please follow the link.
For more information, please speak with Ioannis Sidiropoulos or your usual contact at Elias Neocleous & Co LLC.