Cyprus Mail
Business

Limassol court issues first five debt relief orders,

The Limassol district court issued five debt relief orders, the first out of a total of 40 cases filed last, following the modernisation of the insolvency legislation, the Cyprus News Agency reported on Friday, citing Giorgos Karotsakis, the head of the Insolvency Service.

The five orders concern debt of up to €25,000, the Cyprus News Agency reported citing Karotsakis.

The Insolvency Service received 673 applications for debt relief, which seem to satisfy the criteria, and intends to file to the courts all applications by October, Karotsakis said.

Related Posts

Why financial institutions are banking on sustainability

Kyriacos Nicolaou

Bank of Cyprus: The role of Cyprus’ largest financial institution in the country’s economy and society

Paul Lambis

The role of Financial Services in Society

Paul Lambis

Crises keep demand for cash high, banknote machine company says

Can crypto holders recoup losses in court?

Reuters News Service

International firm chooses Cyprus because it was ‘top of the list’

Kyriacos Nicolaou