The Legal 500

On July 13 2012, in its judgment in Stavros Orthodoxou v Neophytos Ioannou,(1) the Supreme Court clarified the principles underlying the apportionment of negligence.

The Supreme Court of Cyprus is the final appellate court, with jurisdiction to hear and determine appeals in civil and criminal cases from the other courts.

When Cyprus gained independence in 1960 it retained the colonial-era Limitation of Actions Law,(1) which prescribed the time limits within which claims must be brought before a court. The Limitations Law was suspended in 1964 following inter-communal disturbances.

In a recent case(1) the claimant filed an action against the ship and its owner to recover unpaid charges for bunkering and maintenance services provided to the ship. The claimant also applied to the court for the ship to be arrested. The court arrested the ship on the basis of the claimant's application.

The recent decision of the Nicosia District Court in the case of TMP v. TGSB ao, in which we successfully argued against the issuing of an injunction interfering with performance by a bank under a Letter of Credit, was reported in Documentary Credit World, the world's leading specialist publication on letters of credit. To view a copy of the report, click the link below.

In Ngassam v Republic of Cyprus via the General Director of the Ministry of Interior and the Attorney General of the Republic the Supreme Court recently ruled on the right of an HIV-positive illegal immigrant to remain in Cyprus.(1)

Court rules on procedure for setting aside judgments

In Fortis Bank SA v Aurum Capital Holdings Inc(1) the District Court of Nicosia ruled on the court procedure for setting aside judgments. 

Norwich Pharmacal orders may be sought in the Cyprus courts by an injured party in order to obtain an order for the discovery and disclosure of information as to the identity of a wrongdoer. It has proven an extremely useful tool for deconstructing the corporate nominee structure.

Advance-fee fraud is a classic form of white collar crime,(1) in which the targeted victim is persuaded to advance money to the criminal in the hope of realising a significantly larger gain.

On May 31 2011, in the Unreported Action 6598/2001 between GCC Computers Limited and European Dynamics SA, the Nicosia District Court made an absolute order for the attachment of assets in the hands of a third party. A writ of attachment - a court order to 'attach' or seize an asset - is one of the various measures that may be taken to enforce a judgment.

ADR can provide significant savings, regard ing the time and cost needed to resolve disputes compared with traditional litigation.

The Cyprus Department of Merchant Shipping has issued an updated list of countries whose certificates of competency are accepted for the issue of endorsement attesting the recognition of non Cyprus certificates of competency under the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers 1978, as amended.

In the Czech Republic, work is nearing completion on the revision of one of the most fundamental laws, namely the Civil Code.

Cyprus Courts, have jurisdiction to issue any interim order, in all cases, in which it appears to the Court, just and convenient to do so, provided that the following conditions are satisfied by the applicant/plaintiff:

Limitation periods in Cyprus are set out in the Limitation of Actions Law (Cap 15), which dates back to the time when Cyprus was a British colony. The principal limitation periods are as follows:

A case in progress in the Limassol District Court gives useful guidance on the issue of urgency as it affects the courts' readiness to issue interim orders on an ex parte basis, without giving notice to the respondents.

The Limitation of Actions Law, Cap. 15, sets out the time limits within which claims must be brought before a court. However, the Limitations Law was suspended in 1964 following inter-communal disturbances and has remained suspended ever since.

The power of Cyprus courts to grant interlocutory relief pending determination of the main trial is well established within Cyprus law.

Please give a brief overview of the main dispute resolution methods used in your jurisdiction to settle large commercial disputes, identifying any recent trends.

This Overview provides a brief outline of the primary characteristics that litigants may encounter in civil actions initiated before courts in Cyprus. Although arbitration is becoming more popular - particularly in disputes relating to construction, insurance, shipping and trade - it is still in its infancy and litigation is the predominant method for resolving disputes.

At the recent General Assembly of the International Maritime Organisation Cyprus was re-elected to the IMO Council for the next two years. With the support of 134 member states, Cyprus secured the second highest vote in the election.

This article deals with the process of recognition and enforcement of foreign judgments and foreign arbitral awards in Cyprus. The article firstly, focuses on the enforcement of foreign judgments under the provisions of the Regulation (EC) No. 44/2001 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters and Regulation (EC) No. 805/2004 creating a European Enforcement Order for uncontested claims.

Litigation is the predominant method for resolving disputes. Arbitration, although at an infant stage, is becoming more popular, particularly in disputes relating to construction, insurance, shipping and trade.

The latest edition of the “Internal Market Scoreboard” released by the European Commission in February 2009 shows that Cyprus has made progress in reducing its “transposition deficit” – the number of European Directives yet to be transposed into national law.

In two recent cases the Limassol District Court has held that the statutory right of a shareholder to petition for the winding-up of the company in which it is a member cannot be excluded and/or waived by shareholders' agreement.

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The Supreme Court recently recognized and established the jurisdiction of the Cypriot courts to issue discovery and disclosure orders - known as Norwich Pharmacal and Bankers Trust orders.Read more...

Before the accession of Cyprus to the European Union, the Cypriot courts did not have jurisdiction to issue injunctions with extraterritorial effect. This principle was established by the Supreme Court in the Pastella Case.

A Cypriot first-instance court has recently issued an anti-suit injunction preventing a Cypriot company from continuing a legal action filed against a foreign company before the Kazakhstan courts.Read More...

    Thinking in concrete terms the positive end of any litigation relates to the assets and the potential enforcement of the judgment being obtained. Nevertheless, there is always the risk that the defendant will remove his assets from the court’s jurisdiction, thus defeating the creditor of his claims. No court should allow the defendant to create such a situation which undermines the efficacy of the judicial process. Most common law litigants are aware nowadays of the effectiveness and success of Mareva injuctions. This type of order was the answering measure of the courts in England to this hide and seeks game.

Litigation is the predominant method for resolving disputes.  Arbitration and other forms of alternative dispute resolution (ADR), although at an infant stage, are becoming more popular, particularly in disputes relating to construction, insurance and trade.  Read more...

The ability of the Cypriot courts to grant interim orders for the protection of assets that may be in jeopardy of alienation or in order to preserve a particular status quo pending the final outcome of the action, is well-rooted in the Cypriot legal system.  Read more... 

A. INTRODUCTION

Cyprus, as a result of having been a British colony for approximately eighty years has, amongst other things, inherited and further developed a legal system that is closely modelled on the English common law system, with perhaps its dominant feature being the fact that it enables English cases to be cited in Cypriot courts. Presently, all efforts are being directed to developing Cyprus' legal system in a manner compatible with the acquis communautaire of the EU.

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A. INTRODUCTION
Already a well-established international business and shipping centre, Cyprus is now ready to become a popular venue for international arbitrations. Its prompt ratification of the Uncitral Model Law on International Commercial Arbitration (the second country to do so after Canada) has added to the Republic's existing advantages and gone a long way towards establishing it as an extremely suitable location.