Originally from: Enforcement of Money Judgments - Looseleaf
Enforcement of Money Judgments - Electronic
I. PRESENT ATTITUDE TOWARD ENFORCEMENT OF
FOREIGN MONEY JUDGMENTS
A. Describe the receptiveness of your government (including
courts) towards the enforcement of foreign money judgments.
In general, the prevailing attitude of the Government of Cyprus and
its courts towards enforcement of foreign money judgments is positive.
On February 1, 1971, Cyprus signed the Hague Convention of
Recognition and Enforcement of Foreign Judgments in Civil and
Commercial Matters and by law 11 of 1976 (March 12, 1976) ratified
the Convention. However, the Convention has no practical effect since
no enabling bilateral treaties have been signed with the two other
signatory States, Portugal and The Netherlands. Cyprus has also
entered into ten bilateral conventions and 5 multilateral treaties.
In the absence of a treaty, the provisions of the Foreign Judgments
(Reciprocal enforcement) Law of 1935 are expressly applicable to
judgments from United Kingdom courts and may also be applicable to
decision from other States.
For the simplification of procedures for enforcement and execution
of foreign judgments in Cyprus, Law No. 121(1)/2000 was passed for
the Recognition, Enforcement and Execution of Foreign Judgments.
The Minister of Justice and Public Order has been assigned as the
competent authority, and covers any decision of a foreign Court that is
a Court decision or arbitral body or body of another state that the
Republic is connected with an Agreement for the subject of mutual
recognition and enforcement of court and arbitral decisions, concerning
cases in which the said decision is enforced in the state in which was
published. Since becoming a member of the European Union on the 1st
of May, 2004, Cyprus is bound by the provisions of EC Regulation
44/2001 on Jurisdiction and the Enforcement of Judgments of Civil
and Commercial Matters.
Council Regulation (EC) No 44/2001 of 22 December 2000 on
Jurisdiction and the Recognition and Enforcement of Judgments in