We are thrilled to share a major success for our litigation team in a significant jurisdictional challenge concerning one of the largest claims ever filed before a Cypriot court.
Our client, one of the big international audit firms, was sued by a foreign banking institution for US$3 billion, based on allegations of professional and auditor negligence.
We successfully argued that the Cypriot court should not have permitted service of the claim out of the jurisdiction.
In a judgment handed down on Friday, the District Court of Nicosia agreed with our position, finding that, considering the totality of the circumstances, Cyprus was not the ‘forum conveniens’ for hearing the claim against our client, and accordingly stayed the proceedings.
The case was handled by our Senior Partner Nicos Georgiades and Partners Sotos Kasinos and George Charalambous.
This outcome reflects our firm’s strong capability in handling complex, high-value, cross-border commercial disputes, and reinforces our commitment to delivering strategic, effective litigation solutions in multi-jurisdictional matters.
