Ms Christia Middleton

Christia Middleton

Updates

Litigation

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.

Right of judgment creditor to enforce memorandum of judgment against higher value immovable property
Cyprus | 11 April 2017

Under the Civil Procedure Law, a judgment creditor has the right to make any immovable property in which his or her judgment debtor is beneficially interested security for payment of the judgment debt. In a recent case, the Supreme Court considered for the first time the right of a judgment creditor to register a judgment on a debtor's immovable property by way of a memorandum of judgment in circumstances in which the value of the property was much higher than the judgment debt.