What is an Engagement Letter?

An Engagement Letter is a formal legal document that outlines the scope of work, terms, and conditions between Michael Chambers & Co. and our esteemed Clients. This document serves as a binding agreement that clearly delineates the responsibilities, obligations, and expectations of both parties involved in a legal engagement.

Why is it Required?

The Engagement Letter is essential for several reasons. First, it provides clarity and transparency by offering a clear framework for the services to be rendered, thereby eliminating ambiguities and potential misunderstandings. Second, it ensures legal compliance with the Cyprus Bar Association's Regulations. Third, it serves as a risk management tool by specifying dispute resolution mechanisms, confidentiality clauses, and other essential terms. Lastly, it sets a professional tone for the engagement and serves as a point of reference throughout the legal process.

Legal Effect Once Agreed and Signed

Upon signing, the Engagement Letter becomes a legally binding contract that is enforceable under the Contract Law, Cap. 149 of the Republic of Cyprus. Any disputes arising out of the engagement will be subject to the jurisdiction of Cypriot courts, unless otherwise specified in the agreement. Both parties will also be obliged to adhere to the Data Protection Law of 2018 (125(I)/2018), which aligns with the EU General Data Protection Regulation (GDPR). The letter will specify the conditions under which the engagement may be terminated and what obligations will persist post-termination. Failure to adhere to the terms and conditions outlined in the Engagement Letter may result in legal action, including but not limited to claims for breach of contract.

We strongly recommend that you read the Engagement Letter carefully. By signing this document, you acknowledge that you have read, understood, and agreed to be bound by its terms and conditions.

Michael Chambers & Co LLC - Engagement Letter

We Michael Chambers & Co. LLC are pleased to have the opportunity to be of service to you and look forward to collaborating with you. Kindly note, that we will do our best in order to provide you the highest quality legal services and advice in a responsive and efficient manner.

Fundamental to a sound and solid relationship is a clear understanding of the terms and conditions upon which our firm will be providing legal services. Accordingly, the purpose of this letter is to discuss and clarify these terms and conditions.

1. SCOPE OF SERVICES
   
   Class action against all or any of the below:
   • Iberican Trading (mentioning FxWinning Limited as a domain/fraudulent linked fake business)
   • David Merino
   • Rafael Cutié Brito (and his spouse)
   • Roman Cardenas
2. RESPONSIBLE LAWYER-LEGAL CONSULTANT
   
   We will be personally responsible for your case. Should you require any information or clarification with regard to any legal issue, you may wish to contact us. Please act accordingly in the event you have any questions or comments in relation to our services, staffing, billing or other aspects.

Christiana G. Georgiou - Advocate
Andreas Laos – Advocate
Konstantina Diola - Advocate
Andreas Xiaris - Advocate
Andreas Theofanides - Advocate

It is of great importance to us that you are satisfied with our services and treatment at all times. Our intention is to provide quality services in an efficient and cost-effective manner. 

• RESPONSIBILITIES
  
  In reliance upon information and guidance provided by you, we will provide legal assistance to you in accordance with this letter, keep you reasonably informed of progress and respond to all your queries.To enable us to effectively render these services, you agree to cooperate fully with us in all matters relating to the preparation of your case, to fully and accurately disclose to us all the facts that may be relevant to the matter or that we may otherwise request and to keep us updated of developments relating to the matter. In addition, you will be responsible for advising us whether any document we have prepared or received and sent to you for your approval or review reflects the principal terms of the proposed agreement, general litigation strategy or other expectations, as the case may be.  It should be noted that provided we have your full and prompt cooperation and that we will receive all information requested in advance, we shall use our best endeavours to complete the exercises described above as soon as possible and provided the cooperation of all parties involved is in place.
• CONFLICT OF INTEREST
  
  Although we do not have any conflict of interest in representing you, in the event that such a conflict arises in the future my Company undertakes to immediately inform you of the actual or potential conflict and to obtain either a consent or waiver to proceed. To enable us to effectively render the services, you agree to fully and accurately disclose to us all facts that may be relevant to the subject of representation or that the latter may otherwise request and to keep us apprised of developments relating to that subject.
• CONFIDENTIALITY
  
  We undertake not to discuss your affairs with any other person or organisation outside the firm without your express permission.  All non-public information about Clients and the Clients’ family is held by the Firm («Confidential information») in the strictest confidence, including without limitation any information marked as confidential. Neither the Firm, nor any of its employees, representatives, agents, servants or contractors will disclose confidential information to any third party without the Clients’ express written consent, and will not use or copy such information except to further the objectives of this agreement. All Confidential information will be returned (together with any copies) to the Clients upon completion of this agreement, or at any other time upon the Clients’ request. This clause does not end upon termination of the Agreement, and that all Confidential Information shall remain confidential, without limitation.  
• FEES, DISBURSEMENTS AND OTHER CHARGES
  
  The Firm’s fees relating to the scope of services set out in section A above will be charged at the fixed fee of $100 "Fixed Fee".
• REFUND
  
  If for any reason the amount of plaintiffs does not justify and/or support a class action of this magnitude, then we reserve the right to inform the Clients that have signed our Engagement Letter to participate in the class action by the 31st of October 2023 that we shall not proceed and any money paid by the Clients shall be refunded forthwith and our Engagement Letter cancelled.
• PAYMENT OF FEES AND COSTS
  
  In relation to the fees and disbursements outlined in clause F these shall become fully payable by the Clients in the following mode:The amount of $100 shall be paid simultaneously with the signing of the present Engagement Letter and the provision of our Invoice.
  A contingency amount between 10% to 25% shall also be charged in relation to a successful claim.
  25% shall be charged on any amount received from $100.000 to $3.000.000.
  20% shall be charged on any amount received from $3.100.000 to $15.000.000.
  15% shall be charged on any amount received from $15.100.000 to $25.000.000.
  10% shall be charged on any amount received from $25.100.000 and above.
  
• POLICY
  
  It is the policy of our firm to always undertake to adhere to this policy whenever circumstances permit so, to:
  • Provide competent, timely and effective service to its Clients;
  • To ensure that Client’s best interest are always protected;
  • Keep the Client informed of the progress of a matter;
  • Ensure open lines of communications;
  • Entertain any reasonable discussions with regard to any aspect of its services, including fees;
  • Act honorable and professionally in its dealings with Clients and third parties;
  • Provide competent and skilled staff;
  • Ensure a service of the highest caliber in satisfying the Client’s needs and objectives.

   

• TIMELINE
  
  It is the policy of the firm to begin the task immediately upon the singing of this agreement.

In the event that this letter reflects your understanding of the terms and conditions of my representation, please confirm your acceptance by signing it in the space provided below and return it to me. This letter will not become effective and I will have no obligation to provide any type of legal services until you sign and return the copy of this letter.  Note that if the Engagement Letter is not actioned upon by settlement of the specified fee, it becomes null and void.

Yours Sincerely,

Michael Chambers & Co LLC

Advocates –Legal Consultants                                   

I fully understand all the terms and conditions set forth in this letter and agree to them.

PERSONAL CONTACT DETAILS

AGREEMENT FORM

By signing this form, you confirm and declare that:

1. You have not been engaged in or have benefited from criminal conduct in any part of the world and funds which are subject to the proposed arrangement do not wholly or in part directly or indirectly represent the proceeds of criminal conduct.
2. The information given herein and, in the documents, requested is to the best of your knowledge true and accurate as at the date hereof.
3. Should there be any changes in the information, so provided you undertake to promptly advise our Law Firm of the same in writing.