Asset recovery—Cyprus—Q&A guide

The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:

  • Asset recovery—Cyprus—Q&A guide
  • 1. Is there any restriction on civil proceedings progressing in parallel with, or in advance of, criminal proceedings concerning the same subject matter?
  • 2. In which court should proceedings be brought?
  • 3. What are the time limits for starting civil court proceedings?
  • 4. In what circumstances does the civil court have jurisdiction? How can a defendant challenge jurisdiction?
  • 5. What is the usual time frame for a claim to reach trial?
  • 6. What rules apply to the admissibility of evidence in civil proceedings?
  • 7. What powers are available to compel witnesses to give evidence?
  • 8. What sources of information about assets are publicly available?
  • 9. Can information and evidence be obtained from law enforcement and regulatory agencies for use in civil proceedings?
  • More...

Asset recovery—Cyprus—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to asset recovery in Cyprus published as part of the Lexology Getting the Deal Through series by Law Business Research (published: September 2020).

Authors: AG Erotocritou LLC—Andreas Erotocritou; Antreas Koualis; Irena Markitani

1. Is there any restriction on civil proceedings progressing in parallel with, or in advance of, criminal proceedings concerning the same subject matter?

In general, there is no restriction on furthering civil proceedings in parallel with, or in advance of, criminal proceedings concerning the same subject matter. Civil proceedings are normally furthered by the victim for restitution purposes, whereas criminal proceedings are primarily aimed at punishing the wrongdoer.

However, where parallel proceedings are promoted to exert undue pressure on a defendant for an ulterior purpose, such as achieving a settlement in a civil dispute, the furthering of parallel proceedings may be deemed abusive of the courts’ powers and processes. Courts may refuse to entertain parallel proceedings with the same subject matter when those proceedings are found abusive.

The promotion of parallel proceedings is not regarded per se as abusive or oppressive conduct.

2. In which court should proceedings be brought?

Civil actions, such as claims for the recovery of assets (irrespective of their value), are brought in district courts, which have jurisdiction to hear at first instance any civil action unless the subject matter of the action falls within

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