Recognition and Enforcement of Russian Court Judgments and Foreign Arbitral Awards in Cyprus

The power vested in the Cyprus Courts to register and enforce foreign court judgments and arbitral awards is primarily statutory, and is regulated by the different bilateral or unilateral treaties that have been signed and ratified but also statutes that may be ancillary to the enforcement of such treaties.

So, the question as to whether a foreign judgment can be recognised and enforced in Cyprus depends solely by the criteria, provided for, in the relevant treaties and ratifying legislation.

In the absence of a bilateral treaty between the Republic of Cyprus and a third country (not being a member of the European Union), and in the absence of any applicable domestic legislation, the principles of common law will apply to the recognition and enforcement of judgments. Under common law, the creditor need to file a new action that will be based on the provisions of the foreign judgment. In this regard the judgment must be final and for a definite sum.  The action is initiated via a specially endorsed writ of summons which will enable the claimant to apply for summary judgment against the debtor under the Civil Procedure Rules of Cyprus on the ground that the latter has no real prospect of successfully defending the claim.

Generally speaking, it is safe to assure that the Cyprus Courts have a tendency to assist in the registration and enforcement of foreign judgments.