In general, Cyprus Courts have a fully established judicial power to grant interim orders and injunctions over various issues with an international effect.

The legal system in Cyprus has empowered the Courts by incorporating into their powers the option to issue freezing orders or injunctions with the objective of protecting assets in risk of alienation or to preserve a particular status quo pending the final and conclusive determination of the relevant proceedings.

A freezing injunction is usually sought before proceedings are issued (including arbitration proceedings) where the applicant fears that the respondent will dispose of or dissipate its assets before judgment can be obtained and enforced. However, it may be sought at any time; before proceedings are issued, during proceedings or after the judgment has been obtained (to prevent the disposal of assets before the judgment is satisfied).

A freezing injunction takes effect personally against the respondent, and can therefore be granted in respect of any known assets held by the respondent up to the value of the claim. Equally, where the applicant has a proprietary or tracing claim, a freezing injunction can be granted in respect of the particular assets which are the subject matter of a claim; this is particularly useful in cases where fraud is suspected.

The power of the Courts is not limited to freezing orders. Where justice so requires, the Courts may issue interim orders or mandatory injunctions to the effect of instructing a person to take active steps or they may order for the appointment of a receiver or, in general, to take any such measures in order to ensure that justice is served.

Our advocates specialize in the issuing of such extraordinary interim orders and injunctions. The following are the types of interim orders and injunctions that our Firm pursues for our Clients:

• Freezing Orders (Mareva Injunctions)

Freezing injunctions over assets located worldwide 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).

• Interim Orders

An Interim Order or Injunction is an order issued by the Court following an application made by a party to an on-going court procedure. It is a Court Order that orders a party to do something or orders a party to refrain from doing something.

One of the main reasons that Courts grant interim injunctions is to protect assets pending the determination of the main legal proceedings either in the form of Arbitration of Court action. Thus, interim orders are considered to be temporary measures pending the settlement of a Court action or Arbitration award but notably with a high degree of effectiveness.

• Norwich Pharmacal Order

Norwich Pharmacal Order is granted against a third party who has been innocently involved in a wrongdoing, ordering the third party to disclose any documents or information in its possession.

The disclosure of the documents or any relevant information is a step further to assist any applicant in bringing legal proceedings against individuals who are believed to have wronged with or without intention the applicants.

This type of relief aims to help in identifying the real wrongdoer in cases where the wrongdoer is unknown and the only practicable and available source information is a third party.