Litigation, Elias Neocleous & Co LLC updates

Cyprus

Contributed by Elias Neocleous & Co LLC
New statutory interest rate on judicial awards enters into force
  • Cyprus
  • 19 February 2019

The minister of finance recently announced that the statutory rate of interest on judgments pursuant to Article 33 of the Courts of Justice Law has been reduced to 2% per annum with effect from 1 January 2019. This rate will apply for the entirety of 2019.


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