After accepting that Cypfruvex was a legal person in its own independently of its shareholders (TRNC) it was considered the Foreign Corporation Act 199 and the TRNC
1. Is there a territory which is identifiable but which is not a recognised state? yes
2. Is there a settle court system in that territory so that the laws of that territory are thereby applied? It appears to be so
3. Does Cypfruvex have corporate status under the court system operating in that territory? Yes
So Cypfruvex has legal recognition, nevertheless TRNC is a not recognised state.
European Court of Justice, deciding if UK could admit, according to European system, the custom certificates, said that it could not since they were issued by an illegitimate authority in Cyprus