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ARTICLE · 22 SEPTEMBER 2025

A Debt Under An Unrecognized Foreign Judgment Or Foreign Arbitral Award, Cannot Be A Basis For A Winding Up Petition Or A Bankruptcy Petition

Soteris Pittas & Co L.L.C
Soteris Pittas & Co L.L.C
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Soteris Pittas & Co L.L.C

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In the recent English Appellate decision in SERVIS TERMINAL LLC -V- DRELLE (2025) EWCA CIV 62, it has been held that a foreign judgment which has not been recognized...

CyprusLitigation, Mediation & Arbitration
Kyriakos Pittas
Kyriakos Pittas
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In the recent English Appellate decision in SERVIS TERMINAL LLC -V- DRELLE (2025) EWCA CIV 62, it has been held that a foreign judgment which has not been recognized and enforced in England, cannot be used, as a basis for the filing of any bankruptcy petition – (including a winding up petition) – on the ground that the sum awarded as per the foreign judgment, is liquidated, undisputed and payable.

It shall be noted that ten years (10) ago, the Cypriot Appellate Court adopted the same principles in the case INTERPARTEMENTAL CONCERN OAO URALMETROM -V- BESUNO (2014) 1 AAD 427, in which inter alia decided:

(a) That a foreign arbitration award – (including a foreign judgment), does not have any legal effect in the Republic of Cyprus, until same is recognized and enforced in Cyprus as per the provisions of NYC.

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