Cyprus courts have jurisdiction to grant interim orders and injunctions over various issues, having extraterritorial effect.
These include freezing orders (“Mareva Injunctions”), discovery and tracing orders (“Norwich Pharmacal Orders”), Garnishee Orders (“Chabra Orders”), search orders (“Anton Piller Orders”).
Freezing Orders (Mareva Injunctions)
Freezing injunctions over assets in any part of the world can be issued upon a successful application, including both tangible (immovable property only if situated in Cyprus) and intangible assets (i.e. funds, deposits, shares, goods).
Injunctions preventing acts or events from taking place
Cyprus Courts can issue interim orders preventing various acts or events, for example, within the context of shareholders’ disputes or derivative actions, an order preventing the implementation of corporate resolutions or the convening of AGM`s or EGM`s.
Discovery and Tracing Orders (Norwich Pharmacal Orders)
A Norwich Pharmacal order is a court order for the disclosure of documents or information. It is granted against a third party which has been innocently mixed up in wrongdoing, forcing the disclosure of documents or information. Cyprus Courts can issue orders for:
- disclosure an oath by a respondent of the location and value of his assets;
- tracing purposes, namely leading to the disclosure of information and documents regarding assets deprived or stolen from the Applicant, so as to enable the person having suffered harm from identify and pursue proceedings against the real tortfeasor.
Appointment of Interim Receiver or Administrator
Under the appropriate circumstances, Cypriot Courts may issue an order appointing an Interim Receiver or Administrator of assets. The Court will stipulate the powers, duties and rights of the Interim Receiver.
Garnishee Orders (Chabra Orders)
“Chabra” Orders (or Garnishee Orders ) can be issued by a Cyprus Courts against third parties against whom there is no substantive cause of action, but where there is good reason to suppose that their assets may in truth be the assets of the defendant against whom a cause of action is asserted.
Search Orders (Anton Piller Orders)
This is a court order that provides the right to search premises and seize evidence without prior warning. This prevents destruction of relevant evidence, particularly in cases of alleged trademark, copyright or patent infringements.
Interim Orders in aid and/or support of Arbitration and other Proceedings
Cypriot Courts have jurisdiction to issue interim orders in support and/or in aid of:
- judicial proceedings pending before Cyprus Courts;
- arbitration proceedings pending in Cyprus;
- judicial proceedings pending before national courts of any EU Member State (excluding Denmark),pursuant to Article 31 of Regulation (EC) No. 44/2001; and
- international Commercial arbitration proceedings to be filed or pending in any State (EU and non-EU)
We can assist you in a Cyprus company law dispute or if you have fallen victim of a fraud and need to take steps to identify the perpetrators and take steps to trace the assets location and repatriate them.
If you require further information relating to the above or with regards to company or commercial law advice in Cyprus contact us using [email protected]