THE RIGHT OF PREFERENTIAL LIEN ON LOAN AGREEMENTS

By: Savvas Savvides, Partner of Michael Kyprianou & Co LLC

It is commonly accepted that our modern society requires us to possess a relevant knowledge on bank accounts and loan agreements.  However, how feasible is it for an average person to understand the dangers of a ‘simple’ loan agreement?  The legal system of a democratic country ensures the equal treatment between parties and provides support where it is essential. Specifically, it is vital to emphasise a hidden term contained within lo