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The Delivery Delay Clause in Residential Construction Contracts: Consumer Protection in Cyprus and Europe

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By Giorgos Kazoleas, LL.M., Lawyer, Managing Partner at Legal Experts Cyprus The purchase or construction of a new residence is one of the most significant financial and personal decisions a consumer can make. Residential construction contracts or agreements for the sale of property under construction are a crucial and defining element of the entire process, as certain terms they may contain can be detrimental to the buyer. One of the most critical aspects is the contractual delivery time of the project and the provision for delay, through the so-called delivery delay clause. The Delivery Delay Clause: Its Role and Legal Nature The delivery delay clause (also known as a penalty clause in the event of default) is a term usually included in the contract that specifies a predetermined compensation amount that the contractor or seller must pay to the buyer for every day, week, or month of delay beyond the agreed delivery date. The purpose of the clause is twofold: -Compensatory: ...
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A holding by purely financial investors in a law firm may be prohibited (CJEU)

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The EU Court of Justice ruled in Case C-295/23 (Halmer Rechtsanwaltsgesellschaft) that a holding by purely financial investors in a law firm may be prohibited. Such a prohibition is justified in order to ensure the independence of lawyers.  A Member State may prohibit holdings by purely financial investors in the capital of a law firm. Such a restriction on the freedom of establishment and the free movement of capital is justified by the objective of ensuring that lawyers can exercise their profession independently and in compliance with their professional conduct obligations.  The German law firm Halmer Rechtsanwaltsgesellschaft is challenging before the Higher Bavarian Lawyers’ Court (Germany) a decision of the Munich Bar Association of 9 November 2021 which revoked its registration with the bar association on account of the fact that an Austrian limited liability company acquired shares [1] in it for purely financial purposes. Under the German legislation applicable at the ...
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Swiss franc loans and borrowers’ rights in the light of 4 important judgments of the European Court of Justice

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By George Kazoleas, Lawyer LL.M. The EU Court of Justice has issued important decisions in recent years on the issue of bank foreign currency loans, essentially in Swiss francs, which has created significant case law useful for defending the interests of borrowers who have been “trapped” by credit institutions in contracts with abusive currency risk clauses resulting in undue overchargings. In summing up this case-law, the European Court of Justice has reached the following main conclusions: 1.The loan agreement must set out in a transparent manner the exact functioning of the foreign currency conversion mechanism and the exchange rate clause so that the consumer can assess the financial consequences of this mechanism. 2.The borrower must be clearly informed by the bank that, by concluding a loan agreement in a foreign currency, he / she is exposed to a certain foreign exchange risk that he / she may find it difficult to cope with in the event of a devaluation of the currency a...
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Alleged bullying of whistle-blowing prison guard - Violation of right to respect for private life (ECtHR)

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In its Chamber judgment in the case of Špadijer v. Montenegro (application no. 31549/18) the European Court of Human Rights held, unanimously, that there had been a violation of Article 8 (right to respect for private life) of the European Convention on Human Rights. The case concerned the alleged bullying of a prison guard following her reporting an incident involving male prison guards coming into the women’s prison where she worked and their inappropriate contact with female prisoners, and her attempts to address this with the authorities. The Court found in particular that the manner in which the legal mechanisms had been implemented in the applicant’s case had been inadequate, constituting a violation of the obligation on the State to protect her rights. Facts of the case The applicant, Daliborka Špadijer, is a Montenegrin national who was born in 1978 and lives in Podgorica. In 2013 Ms Špadijer, then head-of-shift prison guard in a women’s prison, reported five colleagues for an ...
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MiCAR’s enforcement: An innovative crypto-friendly regulatory landscape

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 Written by Efi Thoma, Lawyer Does the highly anticipated rise of cryptos in the US under Trump administration align with MiCAR’s (Markets in Crypto-Assets EU Regulation) enforcement in the EU regulatory landscape? Even after the collapse of FTX illustrating the dire need for imposing strong regulations to protect investors in crypto assets, the current crypto regulatory progress in the U.S. is ambiguous and remains stalled. This outcome leads to the exacerbation of the lack of faith in the crypto ecosystem by highlighting the unaccountability of the crypto actors with regard to money laundering, financing of terrorism and other illegal activities. In 2023 the International Organization of Securities Commissions has laid out specific recommendations with the aim of imposing some global ground rules on the crypto and digital assets, given the global transactional activities on the crypto sector and the increasing need for the protection of investors in crypto assets. While the f...
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Moving between Member States without an identity card or passport - A fine amounting to 20% of the amount of the offender’s average net monthly income, is not proportionate to the seriousness of the offence

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In its Judgment in Case C-35/20 (6.10.2021) , the European Court of Justice ruled that a Member State may require its nationals to carry a valid identity card or passport when travelling to another Member State, irrespective of the means of transport used and the itinerary, subject to sanctions. While EU law does not preclude the imposition of a criminal penalty, it does preclude disproportionate penalties, such as a fine amounting to 20% of the offender's average net monthly income. A, a Finnish national, made a round trip between Finland and Estonia in August 2015 on a pleasure boat. During that trip, he crossed the international waters between Finland and Estonia. He was the holder of a valid Finnish passport, but did not have it with him during that trip. As a result, during a border check in Helsinki on his return, A was unable to produce his passport or any other travel document, although his identity could be established on the basis of his driving licence. The syyttäjä ...
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The principle of the most favourable rule as a basic principle of Greek Labour Law

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By Evlampia Tsolaki, Attorney at Law* The principle of the most favourable rule (Günstigkeitsprinzip) constitutes a distinct characteristic of Greek labour law as it introduces a noteworthy exception to the strict pyramidal hierarchy that regulates by and large the relationship of the rules of law in the Greek legal order. Its application presupposes that two labour law legal sources of different legal nature and in any case of different origin co-exist and therefore demand to be implemented at the same time, given that they regulate the same issue, such as the days provided for a leave. On the condition, that an employment relationship falls within the ratione materiae, personae, temporis and loci of those both legal instruments and cumulatively both of its parties, namely the employer and employee, are bound by them, then the primacy will not be determined in accordance with the formal weight of each one, but pursuant to their substantive content according to the principle of the mos...
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