Consistent in its policy of briefing its members about issues that are concerning the business community, the Cyprus Chamber of Commerce & Industry organized a seminar on the new law on examinership and insolvency.
The main objective of the seminar was to outline and explain the mechanism of examinership which concerns insolvency of natural and legal persons alike, debt restructuring and deletion and the law governing auctions. The mechanism was adopted as part of the insolvency legislation and allows for the possibility of provides incentives, under court protection for the preservation and restoration of companies by means of restructuring.
The three speakers, George Karrotsakis of the Insolvency Service, CCCI Vice President/Services George Demetriou and Cyprus Institute of Certified Management Consultants Vice President Paris Mavrommatis, stressed the importance of the new mechanism and how it can assist companies to go on and avert the likelihood of conditions like bankruptcy and liquidation and the negative and the negative impact of such on both entrepreneurship and employment.
The seminar was hosted at the premises of the Limassol Chamber of Commerce & Industry and was conducted in cooperation with the Insolvency Service of Ministry of Energy, Commerce, Industry and Tourism and the Cyprus Institute of Certified Management Consultants.
The same seminar also took place in Nicosia.
