Cypriot Bank Wins £5.5M As Judge Calls Out Dishonesty

Law360, London (May 29, 2019, 5:34 PM BST) -- A London judge has dismissed a claim brought by a developer seeking to compel Bank of Cyprus to write off his outstanding loans, concluding that the alleged written agreement on which the suit was based was not genuine or binding.

Property developer Phytos Stavrinides and two of his companies will need to pay Bank of Cyprus £5.5 million in overdue loan repayments, after Judge John Kimbell dismissed their claim at the High Court on Friday.

Judge Kimbell said in the ruling, which was published late Tuesday, that he had “no hesitation” concluding that a letter put forward by Stavrinides to allege...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!