CYPRUS: A decision of English Court recognizing an arbitral award, cannot be recognised and enforced in Cyprus
It has been held by the Cypriot Supreme Court that an arbitration award obtained in England and made a judgment in the High Court of Justice in England, does not come within the definition of “judgment” of the Foreign Judgments (Reciprocal Enforcement) Law, CAP. 10, and therefore cannot be registered in Cyprus.
The only method of enforcement and recognition of the foreign arbitral award in Cyprus, is through the mechanism of New York Convention or by an action on the basis of the foreign arbitral award.
Article IV of the New York Convention, has not restricted, or limited the parallel right of a holder of a foreign arbitral award to recognise and enforce same in the Republic of Cyprus by filing of an action on the basis of the arbitral award.
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Mr. Soteris Pittas (email@example.com) at SOTERIS PITTAS & CO LLC,
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