Enforcement of pledge under Cyprus Law and the statutory obligation of pledgee, to give notice to pledgor, for its intention to sell the pledged shares
A pledgee, even if the pledge agreement provides that it can proceed to sell the pledged shares, without any prior notice to the pledgor, is obliged under Section 134 of Contract Law CAP. 149, to give to the pledgor, a reasonable written notice, about its intention to proceed to sell the pledged shares, thus giving …
CYPRUS: English guidance on the applicable legal principles for setting aside an arbitral Award for fraud
In the English case Stockman Interhold S.A. -v- Arricano Real Estate PLC (2017) EWHC 2909, the Court summarized the applicable legal principles for setting aside an arbitral award for fraud, as follows: The complainant, who seeks to the set aside an arbitral award for fraud, must demonstrate its case to a high standard of proof (see …
Cyprus: Alternative Investment Funds – An Overview
Types of available Alternative Investment Funds The available legal structures which can be used for Alternative Investment Funds (AIFs) established in Cyprus are the following: Registered Alternative Investment Funds (‘’RAIFs’’), in the form of Common Funds or Fixed/Variable Capital Investment Companies which are subject to the provisions of the Companies Law CAP. 113, or in …
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English guidance on the possibility of use of confidential documents disclosed in arbitration in support of other civil proceedings.
Confidentiality is one of the key characteristic and advantage of arbitration, which makes it so attractive to parties, as method of dispute resolution.
Cyprus: Enforcing Specific Performance Orders made by Arbitral Tribunals
Generally, in international commercial arbitrations the remedy which is most commonly sought and which is usually granted, is that of damages, with only a relatively small percentage of the entirety of those awards providing for a remedy of specific performance. This is mainly due to the fact that ‘specific performance’ may be understood and dealt …
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CYPRUS: Methods of Enforcement of an Arbitral Award in the Republic of Cyprus
A successful party in an arbitration may find the losing party unwilling to honor the arbitral award.
Cyprus: Requirements for obtaining a Chabra injunction
In the case of Re Nicolaou Bros Tourist Enterprises Ltd (1999) 1 AAD 201, the Supreme Court of Cyprus, by adopting English legal principles, recognized inter alia the jurisdiction of Cyprus Courts to grant Chabra type injunctions.
LOCUS STANDING OF A FOREIGN LIQUIDATOR OR FOREIGN COURT APPOINTED INTERIM RECEIVER TO FILE COURTS PR
CYPRUS: LOCUS STANDING OF A FOREIGN LIQUIDATOR OR FOREIGN COURT APPOINTED INTERIM RECEIVER TO FILE COURTS PROCEEDINGS BEFORE CYPRUS COURT
CYPRUS: The Chabra jurisdiction of Cypriot Courts
In the case GDL TRADING LTD -V- AGROMARKETS LTD & OTHERS, the District Court of Nicosia inter alia held – (adopting English case law) – that the jurisdiction of the Courts to grant Chabra injunction, arises when:
CYPRUS: Common Law Tort of Conspiracy
Conspiracy is recognized in Cyprus as a common law tort.