Insolvency, Bankruptcy and Restructuring Practitioners

Practitioners Law & Regulations

The Insolvency Practitioners Law of 2015 along with the Insolvency Practitioners Regulations of 2015, provide the regulation and governance of Insolvency Practitioners. This law has been set up in an effort to secure the proper and efficient application of the procedures and controls required as per the provisions of the Insolvency Framework.

As per the provisions of the Law only an approved and licensed Insolvency Consultant will be able to act as follows:

  • in relation to a legal person (i.e. company) as liquidator, temporary liquidator, receiver, administrator or investigator;
  • in relation to a physical person, as bankruptcy administrator, temporary receiver of the property or special administrator of the property or the business of this person or as consultant for the repayment schedule;
  • in whatever capacity, which according to the Law, is defined as an act or falls under the capacity of a person acting as an Insolvency Consultant.

One of the three governing bodies which act as the authorizing and supervisory bodies for Insolvency Consultants is the Institute of Certified Public Accountants of Cyprus.

For advice and information please contact

John P Poyiadjis,  

Roulla Katsounarou  

all Licensed Insolvency Practitioners.

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