In 2015, as part of the modernisation of the insolvency regime in Cyprus, the government introduced new minimum standards of qualification and regulation for persons fulfilling the role of insolvency practitioner – see http://www.neocleous.com/articles/news/licensing-of-insolvency-practitioners.
Certain activities, including acting as liquidator, provisional liquidator, receiver, administrator or examiner under the Companies Law or as trustee in bankruptcy of a natural person may only be undertaken by persons meeting those standards or by the Official Receiver. Insolvency practitioners are required to be members of an approved professional body and must demonstrate their competence by successfully completing an official examination within a specified period.
The results of the first examinations under the new system have now been published and we are delighted to announce that all six candidates from our firm were successful. With six licensed insolvency practitioners - Philippos Aristotelous, Costas Stamatiou, Nicolas Ktenas, Achilleas Malliotis, Efrosini Monou and Stavroulla Andreou – we have a specialist team that is second to none.
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