Chairman: Antis Triantafyllides
Partners: Antis Triantafyllides, George Triantafyllides and Stelios Triantafyllides
Number of partners: 3
Number of lawyers: 33
Languages: Bulgarian, English, French, German, Greek, Russian
The law firm of Antis Triantafyllides & Sons LLC was founded in 1955. It is one of the oldest and best established law firms in Cyprus providing high quality legal services in all areas of law to corporations, institutions, government entities and high-net-worth individuals. The firm’s main practice focuses on domestic and international corporate and banking and finance law, and also boasts one of the strongest litigation teams in the country and a leading tax department. The firm currently employs 72 members of staff, including 33 lawyers and legal consultants. Antis Triantafyllides, the founder of the firm, was the Cyprus member of the Court of Arbitration of the International Chamber of Commerce throughout the greater part of his legal career.
Main Areas of Practice:
Banking & Finance:
The firm’s highly experienced banking and finance team handles secured and unsecured lending, international high-value financing and refinancing transactions, including project financing, syndicated, subordinated and mezzanine financing, and related securities such as share pledges, floating charges and financial collateral. The firm regularly advises on compliance and banking regulatory and licensing requirements, ISDA agreements and related products, asset preservation and security enforcement and procedures. The highly experienced members of the team bring the wealth of their experience to the department making it one of the strongest in the country. The firm recently advised Hellenic Bank Public Company Ltd on the acquisition of assets and liabilities of the second largest bank in Cyprus, the Cyprus Cooperative Bank, involving mainly the performing banking business of the latter. The firm also recently acted for the European Bank for Reconstruction and Development on a EUR 10 million financing for the construction and development of five solar photovoltaic parks in Cyprus, being the first project financing of EBRD in Cyprus. In addition, the firm provided legal assistance on Cyprus law matters to Copelouzos Group on the EUR 968 million financing of the project companies involved in the privatisation of 14 regional airports in Greece.
The capital markets practice of the firm specialises in debt and equity capital markets, derivatives and structured finance, securitisation, corporate trust and agency. The firm’s team regularly acts on public offerings on regulated and non-regulated markets internationally and locally, as well as private placements, Eurobond issues, reverse takeovers etc., acting for issuers, underwriters and lenders. The firm advised Qiwi plc on the successful completion of the IPO of American Depositary Shares on the New York Stock Exchange in 2013, following which we have regularly advised the company on subsequent SPOs and other matters. The team also acted for the DTEK group on Cyprus law matters in connection with a new Eurobond issue and the repurchase of an existing Eurobond issue, as well as on the financial restructuring of its outstanding USD 200 million 9.5% senior notes which took place through an exchange offer, consent solicitation and an English scheme of arrangement and which constituted a landmark deal in successfully changing the governing law of the bonds from New York law to English law sufficient for conferring jurisdiction to English courts for sanctioning a scheme of arrangement.
Corporate & Company Law:
The Corporate department of the firm constitutes the cornerstone of its practice. The experience of the firm’s highly reputable and exceptionally specialised team is second to none in Cyprus. The department’s practice covers the formation, acquisition and sale of Cyprus companies, shareholder agreements and corporate governance issues, capital-raising transactions, public and private offerings of securities and securities law compliance, local and cross-border mergers and acquisitions, management buy-outs and earn-outs, corporate management, and re-domiciliation of companies in and out of Cyprus. The firm recently advised Cyprus Phassouri (Zakaki) Limited, member of the CNS Group, with respect to the construction of Europe’s largest casino resort in Limassol, an investment that will exceed EUR 500 million. The firm also provides ongoing legal support and advice to Hennes & Mauritz (H&M) since H&M commenced operations in Cyprus in 2016. The firm advised the bidder who won the bid to acquire Viva Telecom Bulgaria (Bulgaria’s largest telecom operator) and provided legal support in relation to Cyprus law matters, in a project exceeding EUR 300 million.
Financial Services & Securities Regulation:
The firm has unprecedented expertise in this area of Cyprus law, and together with years of experience, leads thinking on regulatory developments in the financial and investment sectors, helping and guiding clients in lobbying on, planning for, and implementing changes as they occur. The team maintains day-to-day contact with the Cyprus Securities and Exchange Commission and is often engaged in drafting legislative amendments in these areas of law. The firm has in-depth and technical knowledge of financial services regulation laws including MiFID, MiFID II, laws regulating funds and investment collective schemes, and advises asset managers, investment banks, investment firms, and brokers/agents on fund and manager formation and distribution and cross-border regulatory issues.
Litigation, Arbitration & Mediation:
The litigation team is considered one of the best in Cyprus and covers all areas of general and commercial law. The firm offers a wide range of dispute resolution and mediation, representation of clients before all national courts and tribunals as well as domestic and international arbitration under internationally recognised arbitration bodies. The team also specialises, non-exhaustively, in interim order applications, Norwich Pharmacal orders and other types of disclosure orders, as well as freezing orders. The firm recently represented Privatbank in an action against PricewaterhouseCoopers Ltd for USD 3 billion for breach of statutory, contractual and fiduciary duties and responsibilities primarily in auditing financial statements and negligence. The firm also succeeded in discharging a Mareva injunction for the amount of USD 820 million issued on an ex parte basis by Raga Establishment Limited against the firm’s clients. The firm succeeded in obtaining an order for the sale of shares held by Fedor Khoroshilov in Barenbels Trading Ltd for an amount up to USD 291 million in satisfaction of a judgment of the High Court of Justice (Queen’s Bench Division). The firm represented the Attorney General of the Republic of Cyprus in impeachment proceedings filed against him by two individuals which were unanimously dismissed by the Supreme Court. Finally, the firm was the first to issue a court order in Cyprus in favour of an Insolvency Practitioner forcing the creditors of a particular debtor to abide by a Personal Repayment Plan devised by the Insolvency Practitioner.
The firm’s tax department develops effective solutions to tax problems that are both tax-efficient and practical. The firm’s tax practitioners advise on a wide range of Cypriot tax issues arising in the context of international and local transactions, including court disputes.
Notably, the firm has filed six recourses against the Republic of Cyprus before the Administrative Court, disputing the amount of tax imposed on Joannou & Paraskevaides (Overseas) Limited for the use of the private jet owned by another group company.