As high energy prices and a wider global weakening economy threaten the shipping and maritime industries, many Cyprus-based companies face serious financial distress.
This poses a risk for creditors or those with deep financial ties to those companies as they increasingly default on their bonds and bilateral loans.
Creditors of Cypriot companies in those situations should focus on a multijurisdictional approach to achieve recovery.
Sanctions against Russia have increasingly targeted the global shipping and maritime industry as the U.S., UK, EU, and other allied governments seek to enforce its crude oil price cap more aggressively.
With Russian crude exports on the rise, individuals and businesses with ties to the global shipping and maritime industry – particularly Greek and Cyprus-based companies – could find themselves exposed to the widening sphere of Western sanctions.
We explain how individuals and businesses with ties to the Cypriot shipping industry and their advisors may be able to mitigate potential risks.
As governments increasingly use sanctions as a geopolitical tool, ultra-high-net-worth individuals – including those with connections to Cyprus – are at risk.
Cypriot officials and financial institutions have already taken steps to target certain individuals, even those who are not sanctioned.
We explain pre-emptive steps at-risk individuals and their advisors can take to mitigate the risks and protect themselves.
As global geopolitical tensions rise, Cypriot-held assets are increasingly under threat.
Governments, competitors and other counterparties are increasingly launching aggressive and often unwarranted attacks against the Cyprus assets of ultra-high-net-worth individuals.
At-risk individuals should work with a cross-border team and local counsel to take strategic steps to defend their assets.
