Cyprus Law Blog

The Supreme Court of Cyprus annulled a decision of the Cyprus Securities and Exchange Commission (CySEC) on recourse filed by ASPIS HOLDINGS PUBLIC COMPANY LTD (Aspis). CySEC’s first instance decision imposed an EUR80,000.- fine to the said Company along with suspension of 30% of voting rights for violating legislative obligations in relation to a public [...]

THE SUPREME Court has unanimously overturned a decision by the Competition Commission (CPC) to fine four fuel companies close to €43 million for collusion, after finding that the CPC’s chairman had been appointed illegally. In September 2009, the CPC fined Petrolina, Lukoil, Exxon Mobile and Hellenic Petroleum (EKO) €42.9 million for “concerted practice,” a term [...]