In the recent Appellate case VTB -V- TARUTA, the Appellate Court upheld a decision of a 1st Instant Court, pursuant to which a direct application filed by a holder of a Russian Judgment for its enforcement under the Bilateral Treaty between Cyprus and Russia and ex parte injunctions obtained in the context of such enforcement proceedings, had been summarily dismissed, due to lack of jurisdiction of Cypriot Courts, as per Article 27 of the Bilateral Treaty.
The Appellate Court following the rules of interpretation of international conventions contained in the Vienna Convention of 1969, decided inter alia that the provisions of Article 27 of the Bilateral Treaty, are very clear and do not provide for any jurisdiction of Cypriot Courts to adjudicate on any application for enforcement, which is filed directly by a judgment creditor who resides outside Cyprus.
Our lawfirm acted for the winning party.
