Matter

Ertasio Holdings Limited v Joint-Stock Commercial Bank "Bank of Moscow" (Open Joint-Stock Company) (International Commercial Arbitration No. 163/2013; Supreme Court of Cyprus Civil Appeal No. 71/2016)

Case no.: 163/2013

21 April 2014Arbitration
21 April 2014Arbitration
Arbitral Award in International Commercial Arbitration No. 163/2013 dated 21 April 2014
International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation
Award no.
163/2013
Supporting details
2 participants
Ertasio Holdings Limited
Joint-Stock Commercial Bank "Bank of Moscow" (Open Joint-Stock Company)
International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation
Mentioned in judgment
7 years, 10 months and 23 days later · 2886 days
16 March 2022Cyprus
16 March 2022Cyprus
Judgment of the Supreme Court of Cyprus in Civil Appeal No. 71/2016 dated 16 March 2022
Supreme Court of Cyprus
Case no.
Civil Appeal No. 71/2016
Decision summary
The Supreme Court of Cyprus dismissed Ertasio Holdings Limited's appeal and upheld the first-instance order registering, recognizing, and enforcing the 21 April 2014 arbitral award. It held that the application was governed by Laws 84/79 and 101/87, rejected the public-policy, pending-action, arbitrability, and procedural objections, and ordered Ertasio to pay €2,500 plus VAT if applicable in costs.
Supporting details
16 authorities · 11 participants
Ertasio Holdings Limited
Representative
K. Kliridis (For: Ertasio Holdings Limited)
Representative
Z. Santis (For: Ertasio Holdings Limited)
Representative
F. Chr. Kliridis & Associates (For: Ertasio Holdings Limited)
Joint-Stock Commercial Bank "Bank of Moscow" (Open Joint-Stock Company)
Representative
Chr. Nicolaou (For: Joint-Stock Commercial Bank "Bank of Moscow" (Open Joint-Stock Company))
Representative
El. Christofi (For: Joint-Stock Commercial Bank "Bank of Moscow" (Open Joint-Stock Company))
Representative
P. Pavlou & Associates (For: Joint-Stock Commercial Bank "Bank of Moscow" (Open Joint-Stock Company))
Supreme Court of Cyprus
Judge
Liatsos
Judge
Psara-Miltiadou
Judge
Sokratous
Authorities cited
16
- Cyprus Convention on the Recognition and Enforcement of Foreign Arbitral Awards (Ratification) Law 1979 (Law 84/79)
  statute
- Cyprus International Commercial Arbitration Law (Law 101/87)
  statute
- Cyprus Treaty on Legal Assistance in Civil and Criminal Matters (Ratification) Law (Law 172/86)
  statute
- Cyprus Foreign Judgments (Recognition, Registration and Enforcement under Convention) Law 2000 (Law 121(I)/2000)
  statute
- Minister of Justice v Karambataki ((2007) 1 A.A.D. 503)
  case-law
- Koullourou v Cooperative Credit Society of Athienou ((2005) 1(B) A.A.D. 987)
  case-law
- Ironhold Estates Ltd v Travelworld Vacation Ltd ((2010) 1(A) A.A.D. 452)
  case-law
- K.S.R. Comercio E Industria de Papel S.A. et al v Bluecoral Navigation Ltd ((1995) 1 A.A.D. 309)
  case-law
- Henderson v Henderson ([1843] 3 Hare 100)
  case-law
- In re Application of Joint-Stock Commercial Bank "Bank of Moscow" (Open Joint-Stock Company) (Civil Application 151/15, 23 November 2015, ECLI:CY:AD:2015:D776)
  case-law
- Beogradska Banka DD ((1995) 1 A.A.D. 737)
  case-law
- Charalambidis v Westacre Investments Inc ((2008) 1(B) A.A.D. 1217)
  case-law
- Attorney-General of the Republic of Kenya v Bank Fur Arbeit Und Wirtschaft AG ((1999) 1(A) A.A.D. 585)
  case-law
- Fender v Mildmay ([1937] 3 All E.R. 402)
  case-law
- Soleimany v Soleimany ([1999] Q.B. 785)
  case-law
- Russel on Arbitration (24th edition, paragraph 2-101)
  academic
Direct judgment

Ertasio Holdings Limited

Joint-Stock Commercial Bank "Bank of Moscow" (Open Joint-Stock Company)

International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation

Ertasio Holdings Limited

Joint-Stock Commercial Bank "Bank of Moscow" (Open Joint-Stock Company)

Supreme Court of Cyprus