The day after Convoy Collateral Ltd v Broad Idea
International Ltd
1. Introduction
Cyprus is one of the European Union's few common law
countries, with a friendly tax regime and a plethora of Double Tax
Treaties with over 60 countries; thus naturally becoming a
financial centre, a meritorious holding jurisdiction, a lucrative
investment and headquartering destination.
Inevitably, like all upcoming and established financial centres,
Cyprus has seen a rise in high-profile disputes, asset tracing
exercises and asset recovery operations occurring in or through the
country.
Afortiori, a Cypriot entity may be involved in
international disputes taking place abroad, thus, bringing to the
fore the relevancy (and need) of the assistance of Cyprus Courts by
issuing free-standing injunctions in aid of foreign
proceedings.
