Submission of Mediation Application for Restructuring of Credit Facilities by Legal Entities

A. GENERAL INFORMATION

(i) By completing this application, a legal entity may applies to the Financial Commissioner for the appointment of a mediator for the purpose of restructuring credit facilities, provided that all the conditions provided for in Part VIA of the Establishment and Operation of the Financial Ombudsman of the Republic of Cyprus Law of 2010, as amended and/or replaced from time to time (hereinafter “the Law”) are met.

(ii) If you wish to submit your application by completing the paper application, you may submit it to the Financial Commissioner, in one of the following ways:

1. By hand at the address Kypranoros 15, 1st floor, 1061 Nicosia
2. By post (via registered mail): P.O. Box 26722, 1647 Nicosia
3. By fax to 22660584 or 22660118
4. By email at mediations@financialombudsman.gov.cy

To submit your application in one of the above ways (1-4), download the application: Mediation Application from Legal Entities

(iii) The application must be accompanied by proof of payment of the twenty euro (€20) fee. Payment can be made online here or to the following accounts:

(a) Eurobank Ltd
Account Name: E.F.EXO.EPILYSIS DIAF.CHRIMAT.FYSIS
IBAN: CY32 0050 0143 0001 4301 G437 0501
Swift code & BIC Code: HEBACY2N

(b) Eurobank Ltd
Account Name: TAM EN FOR EKS EP DIAF XRIMAT FISIS
IBAN: CY78 0050 0109 0001 0901 7087 6401
Swift code & BIC Code: HEBACY2N

(c) Bank of Cyprus Public Company Ltd
Account Name: EN.FOREA EXO.EPIL.DIAF.CHRIM.FISI
IBAN: CY52 0020 0195 0000 3570 1944 4789
Swift code & BIC Code: BCYPCY2N

B. FALSE STATEMENTS AND CONCEALMENT OF INFORMATION

Under section 26 of the Law, a person who, when providing information for any of the purposes of the Law or the instructions issued thereunder, knowingly makes a false, misleading or deceptive statement in a material fact or conceals a material fact or in any way obstructs the examination of a complaint by the Body, is guilty of an offence and, if convicted, is liable to a term of imprisonment not exceeding two (2) years or to a fine not exceeding ten thousand euros (€10.000) or/and to both of these penalties.

C. REQUIRED DOCUMENTS

To complete the application you will need to attach the following documents:

1. Certificate of Incorporation of Legal Person.
2. Authorization from, or decision of, the Board of Directors in relation to the representation.
3. If the legal person is represented by an external advisor (e.g. lawyer), a special Power of Attorney document accompanied by the original authorization / retainer.
4. Copy of Identity Card or Passport or Alien Registration Certificate (ARC) of the representative.
5. Audited Financial Statements or Certificate by a member of ICPAC which confirms that: (a) the annual turnover of the legal person, in the year preceding the year in which the application is submitted, does not exceed the amount of €350.000 (b) the annual income of the charitable institution, union or association of persons, in the year preceding the year in which the application is submitted, does not exceed the amount of €250.000 (c) the net assets of the trust or provident fund, on the 31st December of the year preceding the year in which the application is submitted, do not exceed the amount of €250.000.
6. The Agreement for the credit facility between the debtor and the authorized institution or the credit purchaser.
7. Statement of additional credit facilities agreements, in the case these are more than one.
8. The proposal for restructuring from the authorized institution or the credit purchaser or the letter of the negative decision from the authorized institution or the credit purchaser.
9. The mortgage or collateral assignment over the property for which the credit facility was granted.
10. A certificate issued by the head of the community of the area in which the property is located which proves that the property is the primary residence or business premises.
11. Appraisal of the primary residence or the business premises, if this exists.
12. Receipt of payment of the fee of twenty euro (€20) for the submission of the application.

Allowed file types: PDF, JPG, JPEG, PNG
Allowed size: up to 1.5MB

Please ensure that you have the above documents when submitting the application to avoid inconvenience.

IMPORTANT NOTICE: English and Greek are the official languages ​​supported by the Office of the Financial Commissioner. Any information / documentation in another language must be accompanied by a translation into English or Greek.