{"id":4113,"date":"2023-07-07T07:27:53","date_gmt":"2023-07-07T07:27:53","guid":{"rendered":"https:\/\/insolvency.dgmedialink.com\/single-digital-gateway\/insolvency-proceedings\/bankruptcy\/"},"modified":"2023-07-11T10:16:21","modified_gmt":"2023-07-11T10:16:21","slug":"bankruptcy","status":"publish","type":"page","link":"https:\/\/www.insolvency.gov.cy\/en\/single-digital-gateway\/insolvency-proceedings\/bankruptcy\/","title":{"rendered":"Bankruptcy"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"4113\" class=\"elementor elementor-4113 elementor-4080\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a4df8f3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a4df8f3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d547a17\" data-id=\"d547a17\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4542cb1 elementor-widget elementor-widget-heading\" data-id=\"4542cb1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 04-12-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Bankruptcy<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3efe7e2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3efe7e2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bf8309d\" data-id=\"bf8309d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-472d725 elementor-widget elementor-widget-heading\" data-id=\"472d725\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">General<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-86b8100 elementor-widget elementor-widget-text-editor\" data-id=\"86b8100\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 04-12-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Bankruptcy is the insolvency proceedings where the Court declares the debtor bankrupt, following the filing of a bankruptcy petition, either by a creditor or by the debtor. Once the Court issues the bankruptcy order, the property of the bankrupt is passed on to the trustee and is distributed between its creditors.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-337aa82 elementor-widget elementor-widget-text-editor\" data-id=\"337aa82\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The Court may, after the filing of the bankruptcy petition and before the issue of the bankruptcy order, appoint an official receiver or a licensed insolvency practitioner as a temporary administrator of the debtor&#8217;s property. Once the bankruptcy order is issued, the official receiver is appointed as trustee of the bankrupt&#8217;s property. Creditors may appoint a licensed insolvency practitioner as a private administrator during a Creditors&#8217; meeting convened by the official receiver following their own request.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-09b00b7 elementor-widget elementor-widget-text-editor\" data-id=\"09b00b7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>3 years after the issue of the bankruptcy order, the bankrupt is automatically discharged from its verifiable debts with some exceptions according to article 27A of the Bankruptcy Law Ch. 5. If the bankrupt&#8217;s property has not been yet distributed, it shall remain at the hands of the trustee to the benefit of creditors. The bankrupt must, also after their discharge, cooperate with the trustee when needed.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5b56f3a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5b56f3a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-816e69a\" data-id=\"816e69a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3ca1f79 elementor-widget elementor-widget-heading\" data-id=\"3ca1f79\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Requirements<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7e0839a elementor-widget elementor-widget-text-editor\" data-id=\"7e0839a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>To submit a petition to the Court for a debtor\u2019s bankruptcy, the following should apply:<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-60bfa74 elementor-widget elementor-widget-text-editor\" data-id=\"60bfa74\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul>\n<li>Its total (non-secured) debts shall exceed the amount of EUR 15 000.<\/li>\n<li>The petition should be accompanied by a certificate stating that there is no petition or personal repayment plan or protection order in force.<\/li>\n<li>The petition of the debtor should be accompanied by their sworn statement declaring that from the submission of the petition they have made every reasonable effort to compromise with their creditors with regard to their debts, by submitting a personal repayment plan, to the extent that the circumstances allowed them to do so.<\/li>\n<li>The debtor should reside in Cyprus or should have had their ordinary residence or place of residence or place of business in Cyprus or should have been operating in Cyprus for a period of one year prior to the submission of the petition.<\/li>\n<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ace0a3e elementor-widget elementor-widget-text-editor\" data-id=\"ace0a3e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>For the issue of an annulment of the bankruptcy order:<\/p>\n<p>The Court may, upon request of any interested party, annul the bankruptcy of the debtor, if it considers that the debtor should not have been declared bankrupt or if the debts of the bankrupt have been fully paid or have been settled, or if the creditors have consented to the annulment of the order.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4ba985c elementor-widget elementor-widget-text-editor\" data-id=\"4ba985c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>For the automatic discharge of a bankrupt:<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3626901 elementor-widget elementor-widget-text-editor\" data-id=\"3626901\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul>\n<li>The submission of the statement of the company\u2019s property status and of the preliminary deposit by the bankrupt in the specified format to the official receiver or administrator at least one year before the automatic discharge is a necessary prerequisite.<\/li>\n<li>If the discharged individual is declared bankrupt again and then is automatically discharged again, they shall not be released from their verifiable debts, if not more than 6 years have passed since the last time that they were released.<\/li>\n<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b649102 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b649102\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0dc3a4f\" data-id=\"0dc3a4f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dd3e3fa elementor-widget elementor-widget-heading\" data-id=\"dd3e3fa\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Applications and Forms<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8b0e089 without-form-filters elementor-widget elementor-widget-shortcode\" data-id=\"8b0e089\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\n    <div class=\"govcy-container govcy-p-0\">\n       \n        <div class=\"posts-filters\">\n\n            <div class=\"filters-container row govcy-bg-light govcy-pt-3 govcy-mb-3\">\n                <form action=\"https:\/\/www.insolvency.gov.cy\/wp\/wp-admin\/admin-ajax.php\" method=\"POST\" id=\"filter-records\" class=\"govcy-form govcy-p-0 form-with-filters\">\n                    <div class=\"row\">\n                        <div class=\"govcy-form-control govcy-col-6\">\n                            <label class=\"govcy-label\" for=\"categoryfilter\">Category<\/label>\n                            <select name=\"categoryfilter\" class=\"govcy-select\"><option value=\"all\">--<\/option><option value=\"99\">Application for Issuance of Non Bankruptcy and Non Winding-Up Certificate<\/option><option value=\"106\">Applications and forms for bankruptcies<\/option><option value=\"105\">Applications and forms for companies under liquidation<\/option><option value=\"104\">Applications and forms for voluntary liquidations<\/option><option value=\"103\">Forms regarding the appointment of receiver\/manager<\/option><\/select>                        <\/div>\n                        <div class=\"govcy-form-control govcy-col-6\">\n                            <label class=\"govcy-label\" for=\"keyword\">Title\/Content<\/label>\n                            <input id=\"keyword\" name=\"keyword\" class=\"govcy-text-input\" type=\"text\">\n                        <\/div>\n                    <\/div>\n                    \n                    <div class=\"row\">\n                        <div class=\"govcy-form-control govcy-col-12\">\n                            <button class=\"govcy-btn-primary govcy-mb-0\">SEARCH<\/button>\n                            <input type=\"hidden\" name=\"action\" value=\"myfilter2\">\n                        <\/div>\n                    <\/div>\n                <\/form>\n            <\/div>\n        \n        \n            <div id=\"response\">\n                <table id=\"records-table\" class=\"govcy-table\"><thead><tr class=\"govcy-br-input\"><th>Application\/Form<\/th><th>Category<\/th><th>Price<\/th><th>Electronic Submission<\/th><th><\/th><\/tr><\/thead><tbody><tr><td><p>General Proxy Form 34<\/p><\/td><td>Applications and forms for bankruptcies<\/td><td>\u20ac0,00<\/td><td>-<\/td><td><a href=\"https:\/\/www.insolvency.gov.cy\/en\/records\/%ce%b3%ce%b5%ce%bd%ce%b9%ce%ba%cf%8c-%cf%80%ce%bb%ce%b7%cf%81%ce%b5%ce%be%ce%bf%cf%8d%cf%83%ce%b9%ce%bf-%cf%84%cf%8d%cf%80%ce%bf%cf%82-34\/\">More<\/td><\/tr><tr><td><p>Proof of debt form for bankrupt persons<\/p><\/td><td>Applications and forms for bankruptcies<\/td><td>\u20ac0,00<\/td><td>-<\/td><td><a href=\"https:\/\/www.insolvency.gov.cy\/en\/records\/%ce%b5%cf%80%ce%b1%ce%bb%ce%ae%ce%b8%ce%b5%cf%85%cf%83%ce%b7-%cf%87%cf%81%ce%ad%ce%bf%cf%85%cf%82-%ce%b3%ce%b9%ce%b1-%cf%80%cf%84%cf%89%cf%87%ce%b5%cf%8d%cf%83%ce%b5%ce%b9%cf%82\/\">More<\/td><\/tr><tr><td><p>Special Proxy Form 35<\/p><\/td><td>Applications and forms for bankruptcies<\/td><td>\u20ac0,00<\/td><td>-<\/td><td><a href=\"https:\/\/www.insolvency.gov.cy\/en\/records\/%ce%b5%ce%b9%ce%b4%ce%b9%ce%ba%cf%8c-%cf%80%ce%bb%ce%b7%cf%81%ce%b5%ce%be%ce%bf%cf%8d%cf%83%ce%b9%ce%bf-%cf%84%cf%8d%cf%80%ce%bf%cf%82-35\/\">More<\/td><\/tr><\/body><\/table><div class=\"pagination\"><\/div>            <\/div>\n        <\/div>\n    <\/div>\n    \t\t<div class=\"elementor-shortcode\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0c123f7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0c123f7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-69598a3\" data-id=\"69598a3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7354008 elementor-widget elementor-widget-heading\" data-id=\"7354008\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><a href=\"\/en\/legislation\/\u03c6\u03c5\u03c3\u03b9\u03ba\u03ac-\u03c0\u03c1\u03cc\u03c3\u03c9\u03c0\u03b1-\u03c3\u03b5-\u03c0\u03c4\u03ce\u03c7\u03b5\u03c5\u03c3\u03b7\/\">Legislation<\/a><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ad5e38 elementor-widget elementor-widget-heading\" data-id=\"3ad5e38\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">General provisions:<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6586ff6 elementor-widget elementor-widget-heading\" data-id=\"6586ff6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Bankruptcy order petition:<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-204b473 elementor-widget elementor-widget-text-editor\" data-id=\"204b473\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The petitioner pays a fee of EUR 500 to the official receiver.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eb9efc4 elementor-widget elementor-widget-heading\" data-id=\"eb9efc4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Bankruptcy order:<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3778a5c elementor-widget elementor-widget-text-editor\" data-id=\"3778a5c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The petitioner provides the official receiver with a copy of the bankruptcy order to be registered and published in the Official Gazette of the Republic of Cyprus and on the website of the official receiver. The same also applies for the issue of an annulment of the bankruptcy order.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7525843 elementor-widget elementor-widget-heading\" data-id=\"7525843\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Statement of the bankrupt\u2019s status:<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e31e80b elementor-widget elementor-widget-text-editor\" data-id=\"e31e80b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The bankrupt should submit a status statement to the official receiver along with a preliminary deposit. The items should be submitted:<\/p>\n<p>within 15 days from the date of issue of the order, if the order is issued following the petition of the bankrupt; or<\/p>\n<p>within a month from the date of issue of the order, if the order is issued upon request of a creditor.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72b39c5 elementor-widget elementor-widget-heading\" data-id=\"72b39c5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Inabilities of a non-recovered bankrupt individual:<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-429d9c4 elementor-widget elementor-widget-text-editor\" data-id=\"429d9c4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The bankrupt is deprived of the right to be elected and to hold or to act as member of the Legislative Council, mayor or member of a Municipal Council, member of a District Council or president of the Community Council.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f71edc0 elementor-widget elementor-widget-heading\" data-id=\"f71edc0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Assessment of the secured property:<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cf8921a elementor-widget elementor-widget-text-editor\" data-id=\"cf8921a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>(corresponding to a winding-up procedure; winding-up shall mean bankruptcy, company shall mean bankrupt and liquidator shall mean administrator)<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8c058d6 elementor-widget elementor-widget-heading\" data-id=\"8c058d6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Verifications of creditors\u2019 debt: <\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb13b93 elementor-widget elementor-widget-text-editor\" data-id=\"bb13b93\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>(corresponding to a winding-up procedure)<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b8470b elementor-widget elementor-widget-heading\" data-id=\"5b8470b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Dividend distribution:<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-074995e elementor-widget elementor-widget-text-editor\" data-id=\"074995e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>(corresponding to a winding-up procedure)<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-298823c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"298823c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c11e51d\" data-id=\"c11e51d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1e10849 elementor-widget elementor-widget-heading\" data-id=\"1e10849\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Bankruptcy Registry<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1ef6347 elementor-widget elementor-widget-text-editor\" data-id=\"1ef6347\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The official receiver keeps an electronic <a href=\"https:\/\/www.insolvency.gov.cy\/en\/mitroa\/psn\/\">bankruptcy register<\/a> which they publish on their website.<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-db870c5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"db870c5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-01c7e60\" data-id=\"01c7e60\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-78a8458 elementor-widget elementor-widget-heading\" data-id=\"78a8458\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Contact Persons<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9e21c40 elementor-widget elementor-widget-heading\" data-id=\"9e21c40\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Stelios Eftychiou<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0730ba2 elementor-widget elementor-widget-text-editor\" data-id=\"0730ba2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Phone: 22458617<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7ebf95a elementor-widget elementor-widget-text-editor\" data-id=\"7ebf95a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Email:\u00a0<a href=\"mailto:seftychiou@insolvency.meci.gov.cy\">seftychiou@insolvency.meci.gov.cy<\/a><\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-afb4c22 elementor-widget elementor-widget-spacer\" data-id=\"afb4c22\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 04-12-2023 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container{height:100%;width:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty,.e-con>.elementor-widget-spacer.elementor-widget-empty{position:relative;min-height:22px;min-width:22px}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon,.e-con>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon{position:absolute;top:0;bottom:0;left:0;right:0;margin:auto;padding:0;width:22px;height:22px}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-adab97c elementor-widget elementor-widget-heading\" data-id=\"adab97c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Andri Andreou<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f9f5a74 elementor-widget elementor-widget-text-editor\" data-id=\"f9f5a74\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Phone: 22458635<\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9bd2c2 elementor-widget elementor-widget-text-editor\" data-id=\"a9bd2c2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Email:\u00a0<a href=\"mailto:aandreou@insolvency.meci.gov.cy\">aandreou@insolvency.meci.gov.cy<\/a><\/p>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-24ae70f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"24ae70f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-51e95249\" data-id=\"51e95249\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-31c594fa elementor-widget elementor-widget-shortcode\" data-id=\"31c594fa\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\">Last Modified: 13\/06\/2023<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b46ada0 govcy-btn-primary elementor-widget elementor-widget-button\" data-id=\"6b46ada0\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/foq.youreurope.europa.eu\/info-service-noft?lang=en\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Help us improve<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b3c6665 elementor-widget elementor-widget-image\" data-id=\"b3c6665\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 04-12-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/europa.eu\/youreurope\/index.htm#en\" target=\"_blank\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"498\" height=\"245\" src=\"https:\/\/www.insolvency.gov.cy\/wp-content\/uploads\/youreurope.jpg\" class=\"attachment-large size-large wp-image-2660\" alt=\"Your Europe\" srcset=\"https:\/\/www.insolvency.gov.cy\/wp-content\/uploads\/youreurope.jpg 498w, https:\/\/www.insolvency.gov.cy\/wp-content\/uploads\/youreurope-300x148.jpg 300w\" sizes=\"(max-width: 498px) 100vw, 498px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>General Bankruptcy is the insolvency proceedings where the Court declares the debtor bankrupt, following the filing of a bankruptcy petition, either by a creditor or by the debtor. Once the Court issues the bankruptcy order, the property of the bankrupt is passed on to the trustee and is distributed between its creditors. The Court may, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":2694,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.insolvency.gov.cy\/en\/wp-json\/wp\/v2\/pages\/4113"}],"collection":[{"href":"https:\/\/www.insolvency.gov.cy\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.insolvency.gov.cy\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.insolvency.gov.cy\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.insolvency.gov.cy\/en\/wp-json\/wp\/v2\/comments?post=4113"}],"version-history":[{"count":2,"href":"https:\/\/www.insolvency.gov.cy\/en\/wp-json\/wp\/v2\/pages\/4113\/revisions"}],"predecessor-version":[{"id":4334,"href":"https:\/\/www.insolvency.gov.cy\/en\/wp-json\/wp\/v2\/pages\/4113\/revisions\/4334"}],"up":[{"embeddable":true,"href":"https:\/\/www.insolvency.gov.cy\/en\/wp-json\/wp\/v2\/pages\/2694"}],"wp:attachment":[{"href":"https:\/\/www.insolvency.gov.cy\/en\/wp-json\/wp\/v2\/media?parent=4113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}