On 17\/02\/2017, our Corporate & Commercial Litigation team – headed by Mr. Andreas Mylonas assisted by Mrs Andria Papageorgiou, acting in Cyprus on behalf of a foreign investor from Abu Dhabi, United Arab Emirates, have initiated legal proceedings against a Cyprus Investment Firm, an internationally well-known financial (Forex & Binary Options) company for fraud, deceit and conspiracy to defraud and successfully convinced the District Court in Limassol Cyprus to grant, on an ex-parte basis (i.e. without giving notice to the Defendants), an interim prohibitory \/ freezing injunctions (Worldwide Mareva Injunction).<\/p>\n
Therefore, until the final adjudication, the Defendants are prohibited from alienating and\/or transferring and\/or selling any assets in Cyprus and abroad (including shares, movable, immovable property etc.) including bank accounts which are held in Cyprus and\/or abroad and\/or disposing of them in any other way.<\/p>\n
The Mareva Injunction is an injunction that freezes assets and restricts the owner of the assets from dealing with or removing the assets before a judgment against the owner has been made. The idea is to ensure that if the Claimant is entitled to relief, justice will be served.<\/p>\n