Debt collection litigation and judgment enforcement proceedings are among our specialties at Nazım & Co. We deal with debts on behalf of our local or foreign clients, small or large corporations, banks and other legal persons who are owed a sum of money from individuals or legal persons residing or having ownership of property in the Republic of Cyprus.
Our debt recovery cases usually involve matters including but not limited to unpaid loans, debts regarding goods sold and delivered, unpaid rent, service fees such as unpaid accounting fees and consulting fees and sums arising out of contractual relationships.
First, we carry out investigations on the debtor’s financial status and try to negotiate out of court. Should out-of-court negotiations fail, as a last resort we would issue court proceedings. The creditor/client is advised on whether it is worthwhile pursuing the matter at Court, that is, the chances of success in Court and if the Court judgment is successfully obtained, the likelihood of obtaining payment from the debtor. Where appropriate, we seek to obtain an interim order against the debtor’s property or freeze his accounts with the view of securing our claim. The Court judgement is usually obtained along with legal costs and interest. If the judgment debtor refuses to settle his debt, our team can use enforcement proceedings so as to execute the judgment such as issuing writs for the sale of movable and immovable property, payment of debt by monthly installments, bankruptcy proceedings, garnishee proceedings and others.
Combining our practical and commercial approach to debt colletion with extensive experience and deep knowledge of the legal process, we are highly focused on results – obtaining payment from the judgment debtor.
