Our firm secures freezing injunction against CobaltAir

25th Oct 2018

On 22 October 2018, our firm was successful in securing an Interim Injunction against the aviation company “Cobalt” (CobaltAir), a mere few days following the said company’s collapse. Cobalt had ceased all operations on 17 October 2018, after failing to secure long-term financing and having its licence revoked. This the first Court Order of its kind to be secured against Cobalt in Cyprus following the recent events. The Interim Order in question was obtained by our firm on behalf of a large foreign travel agency, and freezes all the moveable and immovable property of Cobalt up to the amount of  EUR 1.4 million. The civil proceedings in whose context the Interim Order was secured are currently pending determination before the District Court of Nicosia.

Partner Victoria-Zoi Papagiannis and associate Maria Korneliou handled the case on behalf of our firm.

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