CYPRUS: CAN EX PARTE NORWICH PHARMACAL ORDERS BE STAYED, PENDING APPEAL?

In the recent case PENDERHIL HOLDINGS LTD –V- IOANNI KLOUKINA,  the Supreme Court of Cyprus, examined whether a stay can be granted of the enforcement of Norwich Pharmacal orders, pending appeal.


In the context of an action, claiming the value of post-dated cheques, which were not honored  on presentation, the plaintiff applied and obtained ex parte Norwich Pharmacal orders seeking the disclosure of information from third parties, who were innocently involved in the fraudulent transfers of the assets of the Defendants, in order to preclude the Plaintiff, from recovering the value of the dishonor cheques.


Before complying to the ex parte Norwich Pharmacal orders, the Discovery/ Defendants, filed an appeal against the same, and applied before the 1st Instance Court to stay the enforcement of the orders, until the hearing of their pending appeal.   


The 1st Instance Court rejected the application for stay of the Discovery/ Defendants, and consequently the latter filed a similar application for stay before the Supreme Court of Cyprus.


The Supreme Court of Cyprus, decided to grant the stay of enforcement of the Norwich Pharmacal orders, pending appeal because it concluded:


I. That the Applicant has filed an arguable appeal.

II. That the non granting of a stay of the enforcement of the orders, would have rendered the appeal of the discovery defendants, nugatory.

III. If the Supreme Court, were to issue the requested stay, and finally decided to dismiss the appeal, the negative consequences to the Respondent, would be restricted to a delay in receiving the requested information. 

 

If on the other hand, the Court were to reject the requested stay and the appeal was successful, then the outcome of the appeal, would have no results, due to the fact that the applicants would already have been forced to disclose the requested information.

 

 

For further information on this topic please contact

Mr. Soteris Pittas( spittas@pittaslegal.com ) at SOTERIS PITTAS & CO LLC,

by telephone (+357 25 028460) or by fax (+357 25 028461)

 

 

The content of this article is intended to provide a general guide to the subject matter. Specialist advise should be sought about your specific circumstances.

 

PUBLICATIONS 2012

Tuesday, 13 November 2012 00:51

  Cyprus and Ukraine signed a new bilateral tax agreement for the avoidance of double taxation and the prevention of fiscal evasion that when in force will replace the existing Tax Bilateral tax...

Tuesday, 16 October 2012 19:21

  CYPRUS: Dispute arising out from a Shareholders Agreement containing an arbitration clause - Applicability of Law 101/87 adopting in the Republic of Cyprus of the Uncitral Model Law on...

Tuesday, 16 October 2012 19:20

CYPRUS: Anti-Suit Injunction issued by Arbitral Tribunal in an LCIA arbitration case conducted in London, prohibiting the commencement and/or continuation of legal proceedings before Cyprus...

Monday, 10 September 2012 19:24

The legality of a third party litigation funding, has not yet been examined by Cypriot Courts.   If such an issue, is raised, Cypriot Courts will look for guidance on English or other common law...

Tuesday, 24 July 2012 19:27

  CYPRUS: ENFORCEMENT AND REGISTRATION OF AN UKRAINIAN JUDGMENT AND THE POSSIBILITY OF OBTAINING INTERIM RELIEF IN AID OF EXECUTION   INTRODUCTION The registration and enforcement of an...

Friday, 20 July 2012 20:07

Cyprus Companies are in wide use as major vehicles in international tax structuring mainly due to the broad range of legal and tax related benefits they can offer because of the flexible tax system...

Monday, 09 July 2012 19:37

In the TASSARRUF MEVDUATI SEGORTA FONU -v- MERRIL LYNCH BANK AND TRUST COMPANY (CAYMAN) LTD & OTHERS (2011) UKPC 17, the Privy Council, permitted the appointment of an equitable receiver, to...

Tuesday, 29 May 2012 19:45

INTRODUCTION Cyprus does not have a formal policy towards the recognition and enforcement of foreign judgments.  The question whether a foreign judgment can be enforced in Cyprus, depends solely by...

Tuesday, 29 May 2012 19:43

District Court of Limassol Rules that Fraudulent Disposal of Assets of a Ukrainian Company Cannot be Trumped by the "Exclusive Jurisdiction” of Article 22 of the Brussels Regulation   18 May...

Wednesday, 02 May 2012 19:48

The Republic of Cyprus is a Contracting party to New York Convention.   Since December 1980 the Republic of Cyprus, has been a contracting party to the New York Convention, on the recognition,...

Wednesday, 02 May 2012 19:46

INTRODUCTION    The registration and enforcement of a Russian judgment in the Republic of Cyprus is regulated by the provisions of the Bilateral Agreement, between Cyprus and the Russian...

Wednesday, 08 February 2012 18:51

The existence and nature of piratical attacks off Somalia, is a matter of great notoriety and has caused tremendous problems to ship-owners, cargo-owners, insurers, crew members etc.  Due to the...

Monday, 30 January 2012 18:58

In the recent case PENDERHIL HOLDINGS LTD –V- IOANNI KLOUKINA,  the Supreme Court of Cyprus, examined whether a stay can be granted of the enforcement of Norwich Pharmacal orders, pending...

Monday, 30 January 2012 18:57

In a recent decision of the Supreme Court of Cyprus, it has been held, that a derivative action filed by a minority shareholder of a Cyprus company, did not fall within the ambit of an arbitration...

Monday, 30 January 2012 18:55

In the context of an application to register and enforce a Russian judgment, pursuant  to the terms of the bilateral treaty, existing between the Republic of Cyprus and Russia, our firm succeeded to...

Tuesday, 10 January 2012 19:41

All jurisdictions apply particular limitation periods for an action to be filed. In Cyprus limitation periods where set out in the Limitation of Actions Law, Cap 15 ("Limitations Law"), which was...

Tuesday, 10 January 2012 18:53

The Council of Ministers issued recently its Decision setting new criteria and conditions for the Naturalization of Foreign Investors / Entrepreneurs by Exemption on the basis of para. 2(f) of the...

Subscribe to our Publications

Image
We are dedicated to providing our clients with outstanding, highly personalized, legal representation.
Chrysanthou Mylona 10 
3030 - Limassol, Cyprus
© Soteris Pittas & Co LLC. All Rights Reserved.
Image