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IFLR1000
Cypriot firm merges with Jurispectrum
IFLR1000
Elias Neocleous of Elias Neocleous & Co in Limassol provides an introduction to the Cypriot market
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Elias Neocleous of Elias Neocleous & Co in Limassol provides an introduction to the Cypriot market
IFLR1000
Elias Neocleous of Andreas Neocleous & Co in Limassol provides an introduction to the Cypriot market
IFLR1000
Elias Neocleous of Andreas Neocleous & Co in Limassol provides an introduction to the Cypriot market
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  • Sponsored by Elias Neocleous & Co
    Like most financial engineering techniques, securitisation is not without risk. The complexity inherent in securitisation can impair investors' ability to monitor risk, and competitive securitisation markets are prone to sharp declines in underwriting standards. Furthermore, off-balance sheet accounting treatment for securitisations coupled with guarantees from the issuer can make it challenging to assess exposures, encouraging issuers to take on excessive credit risk. Even the most ardent advocates of securitisation would accept that securitisation played an important role in the US subprime mortgage crisis that led to the global financial crisis of 2008.
  • Sponsored by Elias Neocleous & Co
    Distressed companies are those facing financial crises not resolvable without a considerable recasting of the firm's operations, structures and finance. This can be brought about through a company's failure to make a substantial payment of principal or interest to a creditor. Distress can also be seen in terms of financial ratios, for example in terms of liquidity and longer-term solvency. The basic and most prevalent forms of corporate distress assessment are the cash flow and the balance sheet tests, which apply both to going concern and break up (insolvency) valuation. In terms of break up valuation, under the cash flow test, a company is insolvent when it is unable to pay its debts as they fall due. Under the balance sheet test, the entity is insolvent if the book value of its assets, as listed on the conventional balance sheet, is less than its reported liabilities. The notions of asset exchangeability/liquidity and time prospect of sale are of great importance, particularly for the balance sheet test, as the latter includes the assessment of assets' value, by definition (UK Insolvency Act, 1986, 123 [2]). In this article, we first present the international/UK insight and, then, the Cyprus position on the matter.
  • Sponsored by Elias Neocleous & Co
    On January 22 2020 the instrument of ratification of the Multilateral Convention to Implement Tax Treaty Related Matters (MLI), and the Cyprus position on the minimum standards of the MLI and explanatory statement, were published in the Official Gazette of the Republic.