A.G Erotocritou LLC

Litigation nature

- Representing a company involved in the bankruptcy of the largest independent physical bunkers supplier and bunkering tanker owner. Proceedings, in the context of which interim freezing orders for over $310million have been issued in Cyprus, while also tackling and disputing the recognition of foreign-Court-appointed receiver.

- Advising and defending HNW individuals and their groups in the context of a cross-border dispute, of which interim freezing and other injunctions have been issued and which involve allegations related to severe capital-control violations, as well as large-scale fraudulent transactions that have allegedly resulted in the alienation of assets of value of €400million.

- Representing the former spouse of a billionaire, leading name in the oil&gas sector, in the context of the largest matrimonial dispute ever to be ruled in England, through the enforcement of the £450million maintenance award of the English Court in Cyprus by a Court-appointed receiver over a Cyprus company controlling valuable assets in Russia, with a view to enforce an English judgment over those assets, through Cyprus.

- Instructed to prepare and promoted the highly contested and largest in the country $700million debt restructuring while simultaneously defending 14 high-value court cases brought by opposing creditors, the majority of which entailed opposing high value injunctions and setting-aside a receivership order.

- Instructed to oppose the recognition and enforcement of an arbitral award in Cyprus, issued by the LCIA in London, in relation to a global dispute between a Russian energy company and a German utility provider, in relation to an investment the value of which exceeds $1.4billion. The case was described by the Financial Times, as “the biggest oligarch legal battle in the US”.

- Instructed to act in the $840million dispute over the privatisation of a large Ukrainian telecom provider, which involved parallel proceedings in London, Cyprus and Ukraine.

Corporate/commercial nature

- Instructed to prepare, structure and promote a $700million debt restructuring (scheme of arrangement) for and on behalf of leading group owning, inter alia, a bank institution and various other valuable assets. The scheme is considered the largest ever in value and complexity that has ever been carried out in Cyprus.

- Instructed and advised a company listed in the Athens Stock Exchange in relation to the acquisition of a multi-million worth asset, from another company listed in the AIM Market of the LSE.

- Instructed and handled the entire procedure by our clients, for the licensing, development and construction of various offices, warehouses/workshops to be used by Halliburton for energy related purposes in Cyprus.

- Consistently instructed by international firms to undertake extensive and complex due diligence exercises on entities with assets of significant value, including companies listed at the LSE, AIM, Athens SE and other regulated markets.

- Currently advising an UHNWI in relation to the establishment of a 5* hotel and the construction of a luxurious residential tower and villas.

- Acted for the lenders on the refinancing of a $600million secured facility to one of the largest agricultural companies of Eastern Europe.

- Advised a leading international bank on its credit facility exceeding $85million to a local entity, a joint venture between two large corporations, which involved, inter alia, an extensive security package under both Cyprus, English and Russian law.

- Promoted in Cyprus a highly complex restructuring – scheme of arrangement on behalf of an Indian multinational conglomerate and construction company, with revenues exceeding $14billion.

- Selected by the Government of Cyprus, to carry out an extensive due diligence exercise on OPAP Cyprus (part of OPAP Group (a listed company in Greece)) in order to assess the suitability of the license to be granted to the latter for the provision of certain services in Cyprus.

- Our firm was instructed by Radisson Group to advise on various corporate and commercial matters.

- Acting on behalf of an UHNWI, we are handling the establishment of the first industrial park in Cyprus.

Financial Services Regulatory nature

- Acted as local counsel to some of the largest investment banks, firms, managers, funds and other market participants in the financial services sector doing business in Cyprus on a range of regulatory matters and issues such as licensing, product registration and public offerings.

- Advised some of the largest UK banks and firms (including EU branches) with the Brexit planning of relationships and business in Cyprus, including on (a) migration of clients and contracts; (b) revision of policies and procedures; and (c) restructuring business models in line with local restrictions.

- Handled the entire set up, licensing and operation of a leading French fintech group’s investment arm in Cyprus and provide advice on (a) how to best structure the business in Cyprus and EU in light of Covid-19 challenges and impact; (b) regulatory and reporting requirements; and (c) corporate, tax and commercial law.