Nicos Clerides
Managing Partner
Nicos Clerides is a well-known international legal consultant and litigation expert. He studied law at Middle Temple Inn in London and was called to the English Bar in 1977. He served as a member of the National Council — an advisory body to the President of the Republic of Cyprus.
Nicos has helped countless clients to optimise their international business operations, manage risks, and assert their rights in international litigation. His clients include multinationals, niche companies, small enterprises, families, and individual investors.
While Nicos practises across several areas of law, he is known internationally for successfully handling cross-border fraud and white-collar litigation cases — including disputes between shareholders and directors of companies. His work typically includes complex financial investigations, emergency applications to identify, trace and protect assets in several jurisdictions, and enforcement of recovery actions.
His well-known cases include the following:
Judgment against Anatoly Leonidovich Motylev (2019 – current)
Case Number 417/2019 at the Larnaka District Court resulted in the award of €192.000.000 (one hundred and ninety-two million euros) to Russian creditors (investors) of the BRC Bank in Moscow, later registered as a UK judgment (Queens Bench Division).
Receivership order against Mukhtar Ablyazov (2013 – current)
In 2010, the Queen’s Bench Division appointed KPMG (London) as receivers of Mr. Ablayzov’s assets worth over US$10 billion. Nicos Clerides represents 278 companies allegedly connected with Mr. Ablyazov’s assets.
Janna Bullock cases (2010 – current)
Nicos Clerides has represented Janna Bullock — a New York-based real estate tycoon of Russian background — in court cases with claims exceeding US$500 million.
Evgeny Kogan(2012)
A case involving a Russian entrepreneur defrauded by his associate in the purchase of a mine in Madagascar worth US$100 million. Nicos Clerides secured a court injunction in Cyprus, suspending the freezing order secured fraudulently by Kogan’s associate.
Aremis Soft and Roys Poyiadjis(2001–05)
This case involved criminal charges relating to securities fraud and misrepresentation of a NASDAQ-listed company. The US Department of Justice requested legal assistance from Cyprus and as the result of Nicos Clerides making an application to the Attorney-General Mr Poyiadjis was granted immunity from prosecution. The case involved a US$200 million settlement with US authorities in 2005.
Industrial espionage: Republic of Cyprus v. Michael Andrew Flack and Paul Whybrow (1997)
Two English detectives working for Bayer were sentenced to 18 months in prison for charges involving burglary and stealing of documents belonging to two Cypriot pharmaceutical companies. The documents were allegedly used to establish infringement of patents filed by Bayer. The two detectives were released following a successful appeal by Nicos Clerides.
Police v. Mc Avoy and J. Dickerson (1994)
A highly–publicised case involving several Cypriot companies and hotel owners who sued two British venture capitalists represented by Nicos Clerides. Both accused were cleared of the charges.
US Government request for extradition of Jeffrey Kershaw (1994)
The US Government issued an international warrant of arrest against Mr Kershaw for his alleged involvement in a fraud concerning the sale of UK Government bonds worth 292 million sterling. Kershaw managed to escape to Cyprus. Following a ten-month trial involving lengthy cross-examinations of witnesses by Nicos Clerides, the Court rejected the U. S. Government request and released Kershaw. This case was extensively covered in the media, including The Times, The Guardian, and BBC.