PUBLICATIONS 2019
CYPRUS: NO PHARMACAL ORDERS WHEN THERE IS AN INFRINGEMENT OF THE “MERE WITNESS” RULE
Thursday, 19 December 2019 11:55CYPRUS: NO PHARMACAL ORDERS WHEN THERE IS AN INFRINGEMENT OF THE “MERE WITNESS” RULE. In the English case AXA EQUITY & LAW LIFE –V- NATIONAL WESTMINISTER BANK (1998) CHC 117 (which has...
Deadlock at the Level of Board of Directors and the Power of the General Meeting to Act Despite Provisions in the Articles of Association Reserving the Matter for the Board
Tuesday, 17 December 2019 09:03Cyprus: Deadlock at the Level of Board of Directors and the Power of the General Meeting to Act Despite Provisions in the Articles of Association Reserving the Matter for the Board According...
JURISDICTION OF THE CYPRUS COURTS TO GRANT INTERIM RELIEF IN AID AND/OR IN SUPPORT OF PROCEEDINGS PENDING BEFORE THE COURTS OF MEMBER STATES, OR IN AID AND/OR IN SUPPORT OF FOREIGN ARBITRAL PROCEEDINGS
Friday, 06 December 2019 12:03CYPRUS: JURISDICTION OF THE CYPRUS COURTS TO GRANT INTERIM RELIEF IN AID AND/OR IN SUPPORT OF PROCEEDINGS PENDING BEFORE THE COURTS OF MEMBER STATES, OR IN AID AND/OR IN SUPPORT OF FOREIGN...
Cyprus: New Double Tax Treaty between Cyprus and Egypt
Tuesday, 19 November 2019 09:09Cyprus: New Double Tax Treaty between Cyprus and Egypt On the 8th of October 2019, Cyprus and the Arab Republic of Egypt have signed a new Double Tax Treaty between them, which will update...
Cyprus: Duties and Liabilities of ‘’Nominee Directors’’
Friday, 15 November 2019 10:20Cyprus: Duties and Liabilities of ‘’Nominee Directors’’ The Law Commission in its Consultation Paper on Directors’ Duties 1998 (CP 153), explained the term ‘’nominee director’’ as referring...
AN ANTISUIT INJUNCTION ISSUED BY AN ARBITRAL TRIBUNAL DOES NOT VIOLATE THE EU REGULATION 44/2001 (which has been replaced by EU Reg. 1215/12)
Friday, 08 November 2019 08:46CYPRUS: AN ANTISUIT INJUNCTION ISSUED BY AN ARBITRAL TRIBUNAL DOES NOT VIOLATE THE EU REGULATION 44/2001 (which has been replaced by EU Reg. 1215/12). In its judgment in Gazprom case, the...
GCEU ruling for arbitral award considered as illegal state aid: Micula brothers v. Government of Romania
Tuesday, 05 November 2019 12:22GCEU ruling for arbitral award considered as illegal state aid: Micula brothers v. Government of Romania On 18th of June 2019, the GCEU issued a judgement in the Micula Case, between European...
AN INTERNATIONAL ARBITRAL AWARD MAY BE RECOGNIZED AND ENFORCED, EITHER BY THE SUMMARY PROCESS STATED IN THE NEW YORK CONVENTION, OR AT COMMON LAW, BY FILING OF A CIVIL ACTION BASED ON THE ARBITRAL AWARD.
Wednesday, 30 October 2019 10:21AN INTERNATIONAL ARBITRAL AWARD MAY BE RECOGNIZED AND ENFORCED, EITHER BY THE SUMMARY PROCESS STATED IN THE NEW YORK CONVENTION, OR AT COMMON LAW, BY FILING OF A CIVIL ACTION BASED ON THE...
THE EFFECT OF A JUDGMENT BY A COURT OF SUPERVISORY JURISDICTION AT THE SEAT OF ARBITRATION, ON THE VALIDITY, LEGALITY AND ENFORCEABILITY OF ARBITRAL AWARDS IN THE ENFORCING COUNTRIES
Friday, 25 October 2019 11:46CYPRUS: THE EFFECT OF A JUDGMENT BY A COURT OF SUPERVISORY JURISDICTION AT THE SEAT OF ARBITRATION, ON THE VALIDITY, LEGALITY AND ENFORCEABILITY OF ARBITRAL AWARDS IN THE ENFORCING COUNTRIES ...
CYPRUS: Common Law Tort of Conspiracy
Tuesday, 22 October 2019 12:22CYPRUS: Common Law Tort of Conspiracy Conspiracy is recognized in Cyprus as a common law tort. The Supreme Court of Cyprus in CHRISTOFOROU & OTHERS -V- BARCLAYS BANK PLC (2009), held...
Achieving Re-domiciliation of Companies in Jurisdictions that do not provide ‘’Pure Re-domiciliation’’ Procedures
Monday, 14 October 2019 12:58Cyprus: Achieving Re-domiciliation of Companies in Jurisdictions that do not provide ‘’Pure Re-domiciliation’’ Procedures Jurisdictions such as Cyprus, BVI, Delaware, Luxembourg and...
Breach of an injunction constitutes unlawful means Conspiracy
Wednesday, 09 October 2019 08:57CYPRUS: Breach of an injunction constitutes unlawful means Conspiracy In the recent English case JSC BTA BANK -V- KHRAPUNOV (2018), the Supreme Court, held inter alia, that third parties may...
The 5th EU Anti-Money laundering Directive
Tuesday, 08 October 2019 14:44The 5th EU Anti-Money laundering Directive Money laundering, terrorism financing and organized crime consist significant problems, addressed at Union Level, as money launderers usually take...
CYPRUS: The Chabra jurisdiction of Cypriot Courts
Wednesday, 25 September 2019 09:05CYPRUS: The Chabra jurisdiction of Cypriot Courts In the case GDL TRADING LTD -V- AGROMARKETS LTD & OTHERS, the District Court of Nicosia inter alia held – (adopting English case law) -...
Time limitation in Enforcing an Arbitral Award
Monday, 23 September 2019 10:39Time limitation in Enforcing an Arbitral Award Arbitral awards are enforceable in Cyprus under the provisions of the Cypriot Law on International Arbitration in Commercial Matters Law No....
Useful guidance for Cypriot courts as to their jurisdiction to control the manner in which a Party obtains evidence to support its case
Monday, 09 September 2019 12:39CYPRUS: Useful guidance for Cypriot courts as to their jurisdiction to control the manner in which a Party obtains evidence to support its case In the English case SOUTH CAROLINA INSURANCE CO...
Draft Bill for Memo on property for social insurance debts
Thursday, 29 August 2019 11:09Draft Bill for Memo on property for social insurance debts A draft bill that has been put forward before the House of Representatives relating to the seizure and foreclosure of movable...
Methods of Enforcement of an Arbitral Award in the Republic of Cyprus
Thursday, 25 July 2019 14:46CYPRUS: Methods of Enforcement of an Arbitral Award in the Republic of Cyprus A successful party in an arbitration may find the losing party unwilling to honor the arbitral award. The...
INHERENT JURISDICTION OF CYPRIOT COURT TO STAY ENFORCEMENT PROCEEDINGS OF AN ARBITRAL AWARD
Thursday, 18 July 2019 16:39CYPRUS: INHERENT JURISDICTION OF CYPRIOT COURT TO STAY ENFORCEMENT PROCEEDINGS OF AN ARBITRAL AWARD In the leading Appellate case, Attorney General of The Republic of Kenya -v- Bank Fur...
New Hague Convention for the enforcement of foreign judgments
Wednesday, 17 July 2019 11:22New Hague Convention for the enforcement of foreign judgments On the 2nd July 2019, the Hague Conference on Private International Law finalized a new treaty on enforcement of judgments (“the...
Supreme Court examines Article IV of New York Convention overturning First Instance Judgment
Thursday, 11 July 2019 14:38Supreme Court examines Article IV of New York Convention overturning First Instance Judgment In a recent Supreme Court case, the court examined whether the first instance judge as was the...
LOCUS STANDING OF A FOREIGN LIQUIDATOR OR FOREIGN COURT APPOINTED INTERIM RECEIVER TO FILE COURTS PROCEEDINGS BEFORE CYPRUS COURT
Tuesday, 25 June 2019 12:31CYPRUS: LOCUS STANDING OF A FOREIGN LIQUIDATOR OR FOREIGN COURT APPOINTED INTERIM RECEIVER TO FILE COURTS PROCEEDINGS BEFORE CYPRUS COURT The Supreme Court of Cyprus in the leading case...
NEW LAW FOR CERTIFIED TRANSLATORS
Thursday, 20 June 2019 09:56CYPRUS: NEW LAW FOR CERTIFIED TRANSLATORS Up until now, official translations in Cyprus were solely carried out by the Press and Information Office via its translators’ associates, but...
Cypriot Courts do not have jurisdiction to grant anti-suit injunctions in aid of arbitral proceedings pursuant to Section 9 of Law 101/87 (UNCITRAL MODEL LAW).
Thursday, 30 May 2019 09:47CYPRUS: Cypriot Courts do not have jurisdiction to grant anti-suit injunctions in aid of arbitral proceedings pursuant to Section 9 of Law 101/87 (UNCITRAL MODEL LAW). The Supreme Court of...
Cyprus: The amendments to CAP 113. Update. PART 2. Strike-Off
Wednesday, 22 May 2019 10:30Cyprus: The amendments to CAP 113. Update. PART 2. Strike-Off Effective as of 18 December 2018: Strike - Off S. 327(5). Amendments relating to the strike-off of a company Members...
Cyprus: The amendments to CAP 113. Update. PART 1
Monday, 13 May 2019 12:51Cyprus: The amendments to CAP 113. Update. PART 1 Effective as of 18 December 2018: (1) The abolition of Capital Duty The Council of Ministers abolished the obligation to pay capital...
Cyprus: Disposals of Land. Applicability of VAT to Land Disposal Transactions
Friday, 19 April 2019 09:59Cyprus. Disposals of Land. Applicability of VAT to Land Disposal Transactions The bill, which came into force on 2nd January 2018, has amended the Value Added Tax Law (95(I)/2000) (the “VAT...
Power of court to rectify the Register of Members of a Cyprus company
Tuesday, 16 April 2019 14:42Cyprus: Company Law – Power of court to rectify the Register of Members of a Cyprus company It has been held by Cypriot courts (adopting English case law) that the power of court to order the...
Requirements for obtaining a Chabra injunction
Tuesday, 09 April 2019 10:12Cyprus: Requirements for obtaining a Chabra injunction In the case of Re Nicolaou Bros Tourist Enterprises Ltd (1999) 1 AAD 201, the Supreme Court of Cyprus, by adopting English legal...
Cyprus Tax Authorities introduce guidance for taxation of Intra-Group Financing Transactions
Friday, 29 March 2019 10:19Cyprus Tax Authorities introduce guidance for taxation of Intra-Group Financing Transactions. In Cyprus Transfer Pricing rules are regulated by the circular issued on 30 June 2017 by the...
Directors Duties in Insolvency and its Vicinity- An Alternative Approach for Creditors to Recover
Friday, 15 March 2019 09:21Cyprus: Directors Duties in Insolvency and its Vicinity- An Alternative Approach for Creditors to Recover When a company enters insolvency or its ‘’vicinity’’[1], the fiduciary duties of...
Amendments to the Cyprus Investment Scheme
Wednesday, 13 March 2019 16:19Amendments to the Cyprus Investment Scheme Certain significant amendments have been made to the Cyprus Investment Scheme whereby the Government has taken a step to limit the program, even...
Enforcing Specific Performance Orders made by Arbitral Tribunals
Friday, 01 March 2019 09:05Cyprus: Enforcing Specific Performance Orders made by Arbitral Tribunals Generally, in international commercial arbitrations the remedy which is most commonly sought and which is usually...
Cyprus – UK/Cyprus Double Taxation Convention
Wednesday, 13 February 2019 16:18Cyprus – UK/Cyprus Double Taxation Convention On 19 December 2018, the Cyprus Minister of Finance, Harris Georgiades and the British High Commissioner to Cyprus, Stephen Lillie, signed a...
Intellectual Property - Efficient IP Regime
Tuesday, 05 February 2019 11:49Cyprus: Intellectual Property - Efficient IP Regime Soteris Pittas & Co LLC has observed an increase in the amounts of the IP asset registrations that are taking place. One may wonder...
STAY OF WINDING UP PROCEEDINGS AGAINST A CYPRIOT COMPANY DUE TO ARBITRATION AGREEMENT
Thursday, 24 January 2019 15:55CYPRUS: STAY OF WINDING UP PROCEEDINGS AGAINST A CYPRIOT COMPANY DUE TO ARBITRATION AGREEMENT In a recent decision, in the case ERIN -V- RAYHILL, the District Court of Limassol decided to...
The Arbitral Claim in whose support interim relief has been granted as per Section 9 of Law 101/87 by Cypriot Courts, shall be filed within reasonable time
Thursday, 10 January 2019 11:35CYPRUS: The Arbitral Claim in whose support interim relief has been granted as per Section 9 of Law 101/87 by Cypriot Courts, shall be filed within reasonable time In the case CFG CAPITAL...
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