• Interim Orders & Injunctions
  • Interim Orders & Injunctions
  • Interim Orders & Injunctions
     
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Interim Orders & Injunctions

Interim orders and prohibitory injunctions are temporary rulings that are issued in order to ensure that the rights of the Parties are protected until the competent Court reaches its final decision.

If you are involved in a case as a Party and consider that you have a probability of success, but that there is a significant risk that it will be difficult (or even impossible) to ensure the protection of your rights and to "do justice" at a later stage, then you can apply for an interim order.

The AGP Litigation Team has the expertise and the experience to:

  • advise you on the most appropriate actions to take, depending on the specifics of your case and on your objectives, in order to protect your interests (i.e. your investments in the case of a corporate dispute); 
  • prepare and submit the required applications to the competent Court in Cyprus for one (or more) of the following:

    • Interim Orders

    • Freezing Injunctions (Mareva Injunctions)

    • Chabra (freezing) Orders

    • Prohibitory Injunctions (i.e. interim orders blocking the exercise of certain acts)

    • Discovery and Tracing Orders / Norwich Pharmacal Orders

    • Search Orders / Anton Piller Orders
    • Gagging Orders (i.e. prohibiting the public disclosure of information on a particular matter in order, for instance, to avoid that a third party alerts or notifies the Respondent on the Applicant's legal steps.) 

You can find further information on the scope and the objectives of the aforementioned orders in our related article.

Our Most Recent Practice:

  • We represent 5 out of 14 Defendants in a legal action submitted on October 2016 before the Limassol District Court by a Latvian company against a group of Cypriot, Russian, and offshore companies, and against its’ UBOs and Cypriot service providers for alleged fraud, deceit, conspiracy to injure and unlawful interference with economic interests submitted.  The claim is for €25 million and prohibitory injunctions have been issued prohibiting our clients from destroying or disposing off any information or documents which relate to the case, as well as to disclose information about the rest of the Defendants.  We are currently in the process of preparing our objections.
  • We represent a Russian business man, being the UBO of multiple groups ultimate held via Cypriot companies, against whom an interim prohibitory injunction has been issued by the Nicosia District Court prohibiting him from transferring, selling or alienating any assets which he, directly or indirectly, holds in Cyprus and in Russia, for up to USD 47 million.  An objection has been submitted and a hearing is currently pending.   
  • We represent a Cyprus holding company whose assets consist of multiple groups in Russia, including three Russian and Latvian banks, insurance companies, retail business, development, and many others, against whom an interim order has been issued by the Nicosia District Court prohibiting our client from using, selling, transferring or otherwise alienating assets, or cash in banks, of up to USD 47 million.  An objection has been submitted and hearing is currently pending.
  • Representing our client, an Afghani investor who has lost almost USD 2 million through a Cypriot Investment Firm, we have successfully applied for and been granted with interim prohibitory injunctions against (a) the Investment Firm, an internationally well-known financial company, part of a group consisting of banks and other financial institutions, (b) the ultimate owner of the investment firm, a well-known Serbian business man, and (c) the managing director of the firm.  We have in fact successfully lifted the corporate veil and got interim prohibitory injunctions against the UBO of the investment firm.  The interim injunctions include freezing of bank accounts, prohibiting them from alienating assets in Cyprus or abroad and ordering them to proceed with full disclosure of the defendants’ assets.   
  • We represent the wife of a Russian businessman against whom an interim order has been issued by the Limassol District Court prohibiting him from using, disposing off, or otherwise alienating assets, or cash in bank accounts, up to the amount of EURO 25 million, due to a guarantee agreement which he has allegedly violated.  Representing the wife of the said businessman we have appeared as an interested party to the action for submitting an objection to the interim orders as well as for applying to set aside the action itself as violation of our client’s rights.  The interim order effects the rights and assets of our client who according to Russian law is entitled to 50% of these assets and who never consented to her husband executing such guarantee.      
  • Successful application for interim orders and prohibitory injunctions | We have represented an Egyptian strategic investor for a joint venture project of approximately EUR 68 million in Cyprus. The counterparty to the joint venture has violated the agreement with our client. We have successful applied before the District Court of Nicosia for interim orders and prohibitory injunctions.  The defendant is prohibited from selling or otherwise alienating assets of the joint venture or changing the share structure of the joint venture itself. For more details on the case (matter value of 10 million EURO), please refer to our related press release.
  • Successful Cancellation of Interim Orders (December 2015) | AGP lawyers have demonstrated numerous times their expertise in obtaining interim orders and freezing injunctions on behalf of our clients. This time we defended successfully the interests of our clients (as Respondents) to whom interim orders were addressed.  In a nutshell, our clients – a Cyprus holding Company who owns substantial assets in Russia, including two Russian banks – were prohibited from selling or otherwise alienating assets up to 6 million Euro from Cyprus and abroad, including cash in bank accounts.  Upon submission of an objection we have successfully had the interim orders rejected.  For further information, please read our related press release.
  • Successful submission of a Norwich Pharmacal Action  | This case concerned a claim of over 200 million USD before a President Judge in Nicosia District Court requesting a court order for a bank to lift the corporate veil and disclose confidential information in aid of legal actions to follow before the Limassol District Court.  The action involved fraud and conspiracy intending to cause financial injury to our client, a Trust Foundation which owns assets valued at over 1 billion USD in Ukraine. Our action was successful with the bank disclosing through affidavit into court the beneficiaries.
  • Successful Ex-Parte Appointment of Interim Receiver/Manager before the District Court of Limassol in the context of a derivative action.  This has been a triumph! Representing our client, the 50% UBO of an agriculture group in Ukraine, consisted of over 30 Ukrainian and Cypriot companies, applied before the Limassol District Court for the appointment of a Receiver, replacing the board of directors of the ultimate Cypriot holding company on grounds of equity.  Action value: over 1 billion USD. For further information, please read our related press release.
  • Successful Interim Order at the Limassol District Court | Interlocutory Injunction against two of the biggest Banks in Cyprus prohibiting them from liquidating our clients' bank guarantee. For further information, please read our related press release.
  • Successful Interim prohibitory injunctions against a well know Investment Firm headquartered in Cyprus and regulated by the Cyprus Securities and Exchange Commission | This has been a class action whereby AGP representing 53 claimants have submitted a legal action against a well know investment firm who allegedly has defrauded the claimants for an amount of EUR 1.8 million.  Together with the legal action we have successfully submitted interim prohibitory injunctions freezing the investment firm’s bank accounts in Cyprus and abroad for up to EUR 1.8 million.   
  • Successful interim orders (a freezing injunction order & a tracing order) in a fraud (cybercrime) case | We have successfully closed a case of fraud whereby a Cyprus Company had committed fraud against our clients [... UK LIMITED].  Having obtained two ex-parte interim orders (one freezing and one tracing order) we have managed to (a) block funds stolen and (b) trace the different banks where the funds had been distributed and have thereafter managed to have all funds blocked ad frozen.  A final judgment of the action in favour of our clients and against the Defendants was issued, for the full amount of the case. Action value GB£ 500.000.

For further information as to how we can help you, please contact us.

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