Scope And Application Of Cyprus Arbitration Laws

Introduction

In a recent arbitration case, the issue of the meaning of "Cyprus Arbitration Laws" as well as their scope and application has been considered. The case related to a multi-party arbitration in connection with a shareholder dispute under a shareholders agreement regulating the parties relationship as shareholders in a Cyprus project. The dispute resolution clause, which was poorly drafted, referred to arbitration in accordance with the "Arbitration Laws of the Republic of Cyprus". The Claimants commenced the arbitration under the Arbitration Law, cap. 4 ("Arbitration Law") but the Respondents objected and contended that the arbitration should be conducted under the International Commercial Arbitration Law, Law 101/1987 ("ICAL"). The matter was placed before the Arbitral Tribunal for decision.