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Soteris Pittas & Co LLC

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This content is provided by Soteris Pittas & Co LLC.

Managing Partner: Soteris Pittas
Number of partners: 1
Number of lawyers: 11
Languages:English, Greek, Russian

Firm Overview:
Soteris Pittas & Co LLC is a boutique law firm, focusing on the areas of law related to business activity and dedicated to providing its clients with outstanding, highly personalised, legal representation in contentious matters and comprehensive legal solutions in non–contentious matters according to clients’ particular business needs, requirements and objectives. The firm has close links and strong associations with reputable audit firms, private equity managers, and fiduciaries in Cyprus, Russian Federation and the former CIS countries.

Main Areas of Practice:
General Litigation
International Tax Planning
International & Domestic Litigation
International Business Transactions
Dispute Resolution
Corporate Litigation & Real Estate Arbitration
Corporate Services
Capital Markets
Admiralty & Maritime
E-Commerce & IT
Intellectual Property & Media
Real Estate & Construction
Joint Ventures
Private Client

Dispute Resolution & Arbitration:
Recent Work Includes:

■Acting in cooperation with Quinn Emanuel Urquhart & Sullivan, LLP, London office, for a claimant in a conspiracy action against numerous local and foreign defendants for a claim for damages for USD 820 million
■Acting in cooperation with Quinn Emanuel Urquhart & Sullivan, LLP, London office, for a holder of an LCIA Arbitral Award for a sum of USD 820 million in enforcement proceedings and in obtaining extensive Chabra injunctions and discovery orders
■Acting in cooperation with Quinn Emanuel Urquhart & Sullivan, LLP, London office, on behalf of a creditor in a petition of winding up filed against the debtor Cypriot company, for a sum of USD 720 million, due to cash flow insolvency and/or balance sheet insolvency
■Acting for a claimant for a breach of a share purchase agreement in an action for tracing the title of the shares sold and transferred to the purchaser on the ground of total failure of consideration or constrictive trust and obtaining freezing injunctions (claim USD 50 million)
■Acting for a large Russian company in defending its interest as pledgee, under a Cypriot Pledge Agreement, in an action filed by pledgor to question the selfenforcement of the pledge (i.e. claim USD 20-30 million approx.)
■Acting for a claimant in an ICAC arbitral claim, in obtaining interim measures of protection in aid of the ICAC Arbitral case (claim USD 30-50 million)
■Acting for Russian National Bank TRUST in numerous civil proceedings for the recovery of loans from Cypriot debtors.
■Acting for Russian National Bank TRUST (‘NBT’) in various insolvency proceedings of Cypriot entities against which NBT have claims
■Acting for Russian claimant —who have been defrauded — in discovery proceedings filed against service provider of Cypriot company which has been involved in the commission of fraud
■Acting on behalf of a number of local and foreign defendants in defending an action for a claim of conspiracy to defraud concerning a contract of sale of shares (i.e. claim USD 100 million)
■Action in association with Kennedys of London, on behalf of London based insurers, in defending a claim filed by a Cypriot Insured Polyclinic under an Insurance Contract (claim Euro 500.000)
■Acting in association with Candey Solicitors of London, in discharging an ex parte injunction obtained in aid of an LCIA Arbitral case, blocking removal of a chairman of a Russian Bank
■Acting for holder of two LCIA Awards, for recognition and enforcement under New York Convention (i.e. claim USD 20 million)
■Acting for ZENIT Bank of Russia in various claims for recovery of unpaid loans from Cypriot debtors (i.e. claims 10-15 million)
■Acting for a Cypriot shareholder of a large Russian Bank in obtaining interim relief in aid and/or in support of its ICAC Arbitral Case for enforcement of a Call Option (US$ 50 million)
■Acting for a Cypriot Shareholder of a large Russian Bank in opposing and cancelling by a Certiorari order of an anti-suit injunction obtained in Cyprus by other major shareholder of Russian Bank, in aid of LCIA Arbitral proceedings (US$ 100 million)
■Acting for Plaintiff in obtaining a drastic and extensive chabra freezing injunction, disclosure of assets on oath etc., in aid and in support of an ICAC Arbitral Claim against a large property Group (US$ 35 million)
■Acting for a Claimant in an action for tracing and recovery of title of shares of a Cypriot Company sold to defendants, on the basis of resulting and constructive trusts, due to total failure of consideration and/or damages due to conspiracy, knowing receipt, or knowing assistance to breach a fiduciary relationship etc., and obtaining freezing injunction to block such shares (US$ 47.500.000)
 ■Acting for a Plaintiff in a Conspiracy Action filed against various Cypriot and foreign residents involved in such conspiracy to defraud the Claimant by adopting or implementing an antienforcement strategy to block and render nugatory the enforcement of an LCIA Arbitral Award of US$ 85 million approx. etc., and handling the Plaintiff’s application for an extensive interim relief of Chabra type injunctions, discovery orders of Norwich Pharmacal type, appointment of interim receiver etc. (US$ 85 million)
■Acting for Ukrainian ALPHA BANK for registration of an English Court Judgment in Cyprus and obtaining a charging order over assets beneficially owned or substantially controlled by judgment debtor (US$ 13 million)
■Acting for a large number of depositors of PRIVATBANK in claims filed to recover their deposits from the Cypriot Branch of PRIVATBANK, which have been allegedly haircut due to the collapse of Ukrainian Privatbank

Corporate Commercial:
Recent Work Includes:

■Part of the largest transaction done in Cyprus involving foreign assets by Sberbank Group and that is acquisition by two Cyprus holding companies of one of the largest oil refineries in Russian Federation. The firm was involved in the preparation of the transaction documents. The approximate worth of the transaction USD 5 bl.
■Working with Sistema Group on debt restructuring. Cyprus element included preparation of the legal opinions and due diligence of the Cyprus entities. The transaction is a multimillion transaction and has been completed on 31st December 2018 ■Advising ATON GROUP on re-domiciliation of the foreign entity to Cyprus. Drafting all associated documentation in this respect- amending current SHA, amending AA etc.
■Advising King & Spalding in relation to acquisition by one of the largest Russian Banks of the Cypriot target and the due diligence exercise conducted on the same, advise on the AA provisions
■Advising private client on the technicalities of the creation of the Cyprus International Trust. Drafting all of the associated documentation
■Advising Reed Smith Greece on hotel restructuring project. Cyprus part involved review of the pledge agreements and due diligence of the Cyprus entities. The transaction is a multimillion transaction and still ongoing
■The firm’s existing client Genotek LLC, continues to instruct the firm on the corporate legal matters connected to the entry by the new investor in the structure and influx of funds in the Company. Cleome Holding Limited is a great example of the functioning entity as against entity merely holding assets. The firm was involved in preparation of all legal corporate documentation i.e. Deed of Accession, corporate authorities etc.
■Advising King & Spalding in relation to the investment to be channeled by one of the investors and associated legal steps in amending the articles of association of the Cyprus entity. The transaction is a multimillion transaction and still ongoing (this matter is confidential).
■Working with Essar Group with interests in steel, shipping and oil refining on the project relating to crude oil whereas the firm has assisted with the amendment of the Articles of Association of the Target CypCo, provided legal opinion and assisted and review and drafting of the associated transaction documentation. The transaction is a multimillion transaction and still on going

Articles, Highlights and Press Releases

Total 59 Articles, Highlights and Press Releases


Maria Pitta

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Eleana Dimitriou

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Cyprus: Cyber Libel or Defamation committed through the Internet and jurisdiction of Cypriot Courts

Michelle Georgiou

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