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02.09.2015
Examinership: Powers, Duties and Liabilities of an Examiner under Cyprus Law
Corporate and Commercial Law

The recent amendments to the Cyprus Companies Law Ch.113 (hereinafter “the Law”) have introduced the process of Examinership in Cyprus. The legislation is heavily based on the respective provisions of the Irish Companies Act, therefore beside the provisions of the Cypriot Law, the relevant Irish case-law and authorities will be examined for the purposes of this memo.

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09.07.2015
The “Companies (Amendment) (No5) Law of 2015”
Corporate and Commercial Law

Following the approval of a new amendment to the Companies Law, Cap 113, new Section 298B provides that in every winding up of an insolvent company, the provisions of Bankruptcy Law (Cap 5) shall prevail with regard to the property of any person adjudged bankrupt and with regard to the respective rights of secured and unsecured creditors and to debts provable and to the valuation of annuities and future and contingent liabilities and all persons who would be entitled to prove for and receive dividends out of the assets of the company may come in under the winding up of the company and make such claims against the company.

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02.06.2015
The Open – Ended Type Collective Investment Undertakings (Amendment) Law of 2015
Banking and Secured Financing, Corporate and Commercial Law

An amendment of the Open – Ended Type Collective Investment Undertakings Law, 78(I)/2012, (UCITS Law) was recently approved for the purpose of better harmonisation with certain provisions of EU Directives 2009/65, 2013/14 and 2014/91 regulating the operation of UCITS.

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29.01.2015
The “Alternative Investment Funds Managers (Amendment) Law of 2015”
Corporate and Commercial Law, European Union Law

An amendment of the Alternative Investment Funds Managers (AIFMs) Law, 56(I)/2013, aiming at harmonising Cyprus legislation with EU Directive 2013/14 was recently approved by the Parliament. According to the amending legislation:

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29.01.2015
Amendment to the Takeover Bids Law, 41(I)/2007
Corporate and Commercial Law, European Union Law
In line with Article 119 of EU Directive 2014/59, the new amendment to the Takeover Bids Law [41(I)/2007] and particularly new Section 15A states that Section 13(1) of the basic law on mandatory takeover bids shall not apply in the case of use of resolution tools, powers and mechanisms provided for in Title IV of Directive 2014/59/EU. read more
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