Eleana Christofi

Eleana’s recent experience includes:

• Successfully opposing the recognition of a UK issued Receivership Order for equitable execution in relation to a debt arising from foreign Arbitral Awards (valued at more than USD 350million), the recognition of which was attempted on various legal basis (including EU Regulation 44/2001, EU Regulation 1215/12 and Cap.10 on Recognition of judgment issued by Courts of the Commonwealth) all of which were successfully opposed.
• Successfully opposing the registration of LCIA arbitral awards against a foreign company and its Cypriot subsidiaries, valued at USD 360million. Within the same dispute, successfully dismissing Mareva and Chabra orders issued by Cyprus Courts.
• Successfully dismissing interim prohibitive Orders and Mareva type orders issued against Cypriot companies, as orders in aid of an arbitration proceeding to be initiated before the Arbitration Institute at the Stockholm Chamber of Commerce, with the dispute being valued at USD 125million.
• Successfully obtaining interim prohibitive orders against a Cyprus company operating a trading platform, on the basis of infringement of copyright and passing-off in relation to another Cyprus company operating in the same business.
• Representing a bank in the successful recognition of more than 60 arbitral award of cumulative value of over USD 2 billion, issued against 50 Cypriot companies. Thereafter, successfully placing the judgment debtor companies into liquidation.
• Successfully registering foreign judgments against a Cypriot company, of value more than €17million and then placing the judgment debtor into liquidation.
• Representing a bank in an action requesting the issue of Norwich Pharmacal against providers of fiduciary services.
• Successfully representing a bank and having the writ of summons and its service against her set aside, on lack of jurisdiction and forum non-convenience grounds. The dispute regarded the development of a plot of land in a foreign jurisdiction, the development being valued at more than USD25million.
• Successfully opposing the issuance of Mareva Order, Bankers Trust and Norwich Pharmacal orders, against Cyprus companies, in proceedings in support of contemplated LCIA arbitration. The dispute was valued at USD 34million.
• Successfully handled cases on behalf of Cyprus Banks, regarding the “trapped buyers” of properties (namely buyers who purchased property and could not get a title transfer because the developed owed banking loans and had mortgages over the properties) by which the relevant law in favor of the said applicants was deemed unconstitutional as well the more common banking disputes between lender and borrowers.
• Advised a foreign bank and represented them in litigation in relation to shareholders of the bank who siphoned money from a Cyprus subsidiary against whom there were foreign judgments issued and registered in Cyprus.