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Results: 4 Answers
Enforcement of Foreign Judgments
8.
Trends and predictions
8.1
How would you describe the current enforcement landscape and prevailing trends in your jurisdiction? Are any new developments anticipated in the next 12 months, including any proposed legislative reforms?
 
Cyprus
In general, the Cypriot courts are willing to assist in the enforcement of foreign judgments. The application of the relevant EU regulations on the recognition and enforcement of judgments issued by courts of EU member states has simplified the procedure of recognition and enforcement of such decisions without court intervention.

Within the next 12 months, a decision of the Cypriot Appellate Court is expected in VTB v Taruta on the issue of whether the Cypriot courts have jurisdiction under Law 121 (I)/2000 to adjudicate on the enforcement of non-European foreign judgments under statute where both the judgment creditor and the judgment debtor are foreign residents.

No legislative reforms are expected in the near future.

For more information about this answer please contact: Soteris Pittas from Soteris Pittas & Co LLC