Interim Relief In The Context Of Or In Aid Of Arbitration

General Principles – Interim relief issued by arbitral tribunal

Granting of injunction restraining companies or individuals involved in arbitral proceedings from disposing of their assets, in order to ensure that a successful party will not be frustrated in its attempt to enforce the final arbitral award in its favour, it is commonly used in arbitral proceedings.

The Arbitration Law, Cap. 4, as it is amended (the "Cap. 4") and the International Commercial Arbitration Law 101/1987, as it is amended (the "Law 101/1987") provide that an arbitral tribunal may grant interim relief against any party with regard to the subject matter of the dispute, without any assistance of the Cyprus Courts. It is of utmost importance to note that, under Law 101/1987 and Cap.4, there is no mandatory provision and hence, the parties have the right to agree otherwise, i.e to agree that both parties will not have the right to request any interim relief by the arbitral tribunal. If the