Christofi Law will be challenging Cypriot Jurisdiction in the Cypriot courts in a case in which a Cypriot Bank granted a foreign currency loan to a couple based in the UK.
The action follows on from a High Court ruling in the UK on 14 June in which the High Court accepted in the first instance that it was possible in cases where contracts were formed in the UK to be heard in the UK. Although the UK case applies to a narrow group of people, and revolves around very specific facts, Christofi Law have agreed to challenge Jurisdiction to see how the Cypriot Courts will deal with the question.
