February 23, 2017
Market Intelligence provides a unique perspective on evolving legal and regulatory landscapes in major jurisdictions around the world. Through engaging, easily comparable interviews, the series provides the legal profession’s thought leaders with a platform for sharing their views on current market conditions and developments in the law.
Market Intelligence offers readers a highly accessible take on the crucial issues of the day and an opportunity to discover more about the people behind the most interesting cases and deals.
GTDT: What are the most popular dispute resolution methods for clients in your jurisdiction? Is there a clear preference for a particular method in commercial disputes?
Nicos Georgiades & Nataly Papandreou: The most popular dispute resolution methods for clients in Cyprus are litigation and arbitration, though there has been a cumulative increase in the prevalence of mediation. Conciliation is also used as an alternative dispute resolution (ADR) mechanism but less often. Although litigation remains the most prevalent dispute resolution regime with regards to commercial disputes, it is unclear whether this is the result of a specific preference as opposed to indulging in traditional and familiar, pre-existing litigation practices. Depending on the nature of the commercial dispute, however, parties may resort to arbitration; for example, where issues requiring extensive expertise to be resolved are likely to determine the outcome the case, such as in construction disputes.
GTDT: Are there any recent trends in the formulation of applicable law clauses and dispute resolution clauses in your jurisdiction? What is contributing to those trends? How is the legal profession in your jurisdiction keeping up with these trends and clients’ preferences?
Nicos Georgiades & Nataly Papandreou: There are no recent trends in the formulation of applicable law clauses and dispute resolution clauses in Cyprus.
Read more at gettingthedealthrough.com or click here to download the article in PDF format.
