articles | 16 April 2016 | Soteris Pittas & Co LLC

JURISDICTION OF CYPRUS COURTS TO RECOGNISE AND ENFORCE FOREIGN JUDGMENTS AND FOREIGN ARBITRAL AWARDS

In a recent decision of the District Court of Nicosia, it has been held that Cyprus Courts have jurisdiction to adjudicate on applications for enforcement of foreign judgments and foreign arbitral Awards, even if both the judgment creditor and judgment debtor reside outside Cyprus.

The above decision has cleared the uncertainties and problems created in enforcing such foreign judgments and arbitral awards, due to the issue of previous decisions by Cypriot District Courts, declaring that there was no such jurisdiction because of the provisions of the Procedural Law 121 (1)/2000, which regulates the procedure of enforcement of foreign judgments in Cyprus.

Cooperation Partners
  • Logo for Cyprus Shipping Chamber
  • Logo for Invest Cyprus
  • Logo for Cyprus Investment Funds Association
  • Logo for Association of Cyprus Banks
  • Logo for CYFA Cyprus
  • Logo for Love Cyprus Deputy Ministry of Tourism
  • Logo for Cyprus Chamber of Commerce and Industry
  • Logo for Cyprus International Businesses Association
  • Logo for Ministry of Energy, Commerce, Industry and Tourism