The Late Payments in Commercial Transactions Law, Law No. 123(I)/2012 (“The Late Payments Law”) repealed the 2003 law on late payments in commercial transactions and harmonised Cyprus law with European Directive 2011/07/EU (the Directive repealed, with effect from 16 March 2013, an earlier Directive from 2000 (Directive 2000/35/EC) on combating late payment in commercial transactions).
Litigation & Arbitration Issues
The Late Payments in Commercial Transactions Law and its significance
Court orders securing the execution of foreign judgment in Cyprus
Tracing, Freezing and Discovery orders securing the execution of a foreign judgment in Cyprus.
Obtaining a favourable judgment is unfortunately not the end of the story for litigants as this should, following its issue, be executed and/or enforced, taking also into account the fact that many judgment debtors either fail or simply refuse to pay their respective judgment debt!
Cyprus Court Orders: Freezing, Discovery and Search Orders
Interim injunctions in Cyprus- in simple words an interim injunction is the temporary order given by a court of law which tells someone either to do or not do something until an official decision on the case can be made.
Termination of employment of workers absent due to incapacity
The House of Representatives voted recently the Termination of Employment Law 2016 (as amended) (N.89 (I)/2016).
Preservation Order: Facing debtors maintaining bank accounts out of Cyprus
An EU Regulation (655/2014)1 which establishes an ex-parte Union procedure enabling a creditor – natural or legal person - to obtain a European Account Preservation Order against a debtor – natural or legal person - (“Preservation Order”) will be implemented in Cyprus on 18.01.2017.
Civil Procedure Rules – Orders 25 & 30, as amended
In 2015 the Supreme Court proceeded into a number of amendments regarding the Civil Procedure Rules applying in Cyprus and more specifically regarding Orders 25 and 30.
EOKA Veterans against British Government: First Steps Forward
Our firm in collaboration with K.J Conroy & Co solicitors a Birmingham – based law firm and other law firms based in Cyprus is acting on behalf of former EOKA veterans in a claim against the British Government for human rights abuses suffered during the 1955-1959 struggle against colonial rule.
What protection do employees in Cyprus have against dismissal?
In Cyprus, protection is afforded against unfair dismissal to all employees, under the Termination of Employment Law 24/67 as amended.
The legislation covers all employees, whether in private sector or public sector, including apprentices.
Types of tenancy in Cyprus and the Rent Control Law
There are two types of tenancy in Cyprus. The “contractual” and the “statutory” tenancy. It is essential to identify the type of the tenancy which exists in a given case in order to ascertain which Court has jurisdiction to decide on the matter.
Limitation on the right to take action at Court
On the 01.07.2012, the House of Representatives has passed the Limitation of the Right to Take Action Law of 2012 (hereinafter the Law) which provides the valid period during which the plaintiff has the right to take legal action after the completion of the cause of action.
Recognition and Enforcement of foreign arbitral awards in Cyprus
It is a common procedure to submit disputes arising out of international contracts to arbitration. Arbitration is a consensual legal technique, which has developed recently in Cyprus as a form of dispute resolution in various industries, which gives the opportunity to parties to resolve issues without the necessity to refer the matter to Court. This article deals with the recognition and enforcement of foreign arbitral awards in Cyprus. Once an arbitral award is granted, the winning/successful party will seek to enforce it in the country in which the losing party has financial assets.
Is Arbitration still the preferred Dispute Resolution Mechanism?
The ongoing growth of international arbitration as preferred dispute resolution mechanism, both in commercial and in investment disputes, is undeniable. The bigger the amount in dispute, the more likely is it that it eventually ends up before an arbitral tribunal.
Methods of Enforcement of Judgments in Cyprus for the collection of debts
Despite the fact that someone may be granted a judicial decision in favour of that party by the Courts of Cyprus ordering the other side to pay its debts, however he/she may be unable to collect his/her money because, in many occasions, there are many debtors who may try to avoid payment of their debts despite the existence of the judicial decision issued against them by the Court of Cyprus.