In a recent Supreme Court case, the appellant appealed against a first-instance judgment in which he had sought to annul an arbitral award. The dispute related to the non-payment of a loan granted by the respondent to the appellant and a subsequent challenge of the amount owed. Arbitration had taken place in which the arbitrator had issued his decision in favour of the respondent.
In a recent Limassol District Court case, the applicants applied for the recognition and enforcement of a London Court of International Arbitration award, which the respondents argued was contrary to Cypriot public policy pursuant to the New York Convention. This case serves as a useful reminder that the courts will rarely resort to public policy grounds to refuse the recognition of an arbitral award unless presented with cogent evidence.
In a recent Limassol District Court case, the applicants applied for the recognition and enforcement of an arbitral award issued by the Arbitration Institute of the Stockholm Chamber of Commerce. The case is one of the first examples of the judicial interpretation and application of Article VI of the New York Convention by the Cypriot courts and serves as a useful guide to the proper procedure to be followed by parties when invoking said article.
A recent Limassol District Court decision serves as a useful reminder that the courts will rarely resort to public policy grounds for refusing the recognition of arbitral awards unless presented with cogent evidence. In addition, the courts are prepared to demonstrate the necessary flexibility dictated by modern commercial practices in examining the imperative requirements of Article IV of the New York Convention in a manner which will not hamper the convention's underlying objectives.
In a recent Limassol District Court case, the applicants applied to the court to set aside a Cypriot court order which had allowed the ex parte recognition and enforcement of a Dutch judgment pursuant to the EU Brussels Regulation or, alternatively, the recast EU Brussels Regulation. The applicants raised several arguments to support their application – in particular, the fact that the Netherlands judgment allowed for the registration and execution of the arbitral award only in the Netherlands.