Introduction
In recent years, the Cyprus Courts have dealt extensively with a
plethora of cross-border fraud disputes and have adjudicated and
considered a number of cases involving asset tracing and recovery.
The courts have consistently exhibited a readiness to issue
interlocutory injunctions and, notably, worldwide freezing orders
on an urgent basis and in special circumstances where such orders
are necessary. This has solidly positioned Cyprus as an
advantageous forum for adjudicating such disputes.
This stems from the symbiotic relationship between the Cyprus
legal system and the English common law system is a main driver for
the abovementioned. Notably, pursuant to section 29 of the Courts
of Justice Law (Law 14/1960), the Cyprus Courts, in the absence of
contrary legislation, must follow the principles of common law and
equity. A fortiori, English case law extensively applies and
provides valuable guidance to the Cyprus Courts.
