litigation
Following Brexit, it is no longer possible to use Regulation (EU) No 1215/2012 on the Jurisdiction and the Recognition and Enforcement of Judgments in Civil and Commercial Matters (recast) to recognise and regsiter UK judgment in Cyprus. Currently, those wishing to obtain recognisiton and enforcement of a UK judgment in Cyprus must revert to the previous legal regime, which has become relevant again.
Cyprus Company Law is based on the principle of the majority rule. As a general principle, a Cyprus court will not interfere in the management of a company. However, in cases where shareholders are oppressed by the controlling or majority or the board of a Company, a minority or oppressed shareholder can seek redress and protection from a Cyprus court.
The procedure to be followed for executing a foreign judgment in Cyprus depends on the country where the judgment sought to be executed was issued. If a judgment was issued by the judicial authorities of an EU country (or Switzerland, Norway and Iceland), it can be recognised and enforced under EU regulations.
The main provisions of EU Regulation 655/2014 (the “Regulation”) will come into force on the 18.01.2017. The Regulation was adopted on the 27.06.2014 in order to facilitate cross-border debt recovery in civil and commercial disputes. The Regulation established the European Account Preservation Order (“EAPO”). When adopted the Regulation will create a standalone mechanism allowing creditors…
If you have obtained a judgment or court order, you will want to enforce it in a jurisdiction where the judgment debtor has assets or is located in order to receive whatever the court has granted. EC Regulation No. 805/2004 which introduced the European Enforcement Order (“EEO”) provides a means to enforce foreign judgments within the European…
If you have obtained a judgment or court order, you will want to enforce it in a jurisdiction where the judgment debtor has assets or is located in order to receive whatever the court has granted. EC Regulation 44/2001 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (known as the “Brussels Regulation”) lays…
1. Introduction Cyprus Company Law is based on the principle of the majority rule. Consequently Cyprus courts will not generally interfere in the internal management of companies. However, in cases where shareholders become oppressed by the controlling or majority shareholders or even the board of a Company, minority or oppressed shareholders can seek redress and…
Cyprus courts have jurisdiction to grant interim orders and injunctions over various issues, having extraterritorial effect. These include freezing orders (“Mareva Injunctions”), discovery and tracing orders (“Norwich Pharmacal Orders”), Garnishee Orders (“Chabra Orders”), search orders (“Anton Piller Orders”). Freezing Orders (Mareva Injunctions) Freezing injunctions over assets in any part of the world can be issued…
Disputes in Cyprus are mainly resolved in litigation proceedings by the courts. Provided all statutory and case law requirements are met, Cyprus courts have jurisdiction to grant interim orders and injunctions, with international effect. In particular they have jurisdiction to issue interim orders in support or in aid of: Judicial proceedings pending before Cyprus Courts;…
On the 20.11.2012 the European Parliament voted in favour of the proposed “recast” Brussels Regulation. The recast Brussels Regulation (EU Regulation 1215/2012) will be applied by Member State courts from the 10.01.2015. An overview of the main areas of reform under the recast Brussels Regulation are listed below in summary form. The main areas of…