On the 20.11.2012 the European Parliament voted in favour of the proposed “recast” Brussels Regulation. The recast Brussels Regulation (EU Regulation 1215/2012) will be applied by Member State courts from the 10.01.2015.
An overview of the main areas of reform under the recast Brussels Regulation are listed below in summary form.
The main areas of reform under the recast Brussels Regulation are:
- Defusing so-called “torpedo actions”, where a party seeks to delay matters by starting proceedings in one EU member state court in breach of an exclusive jurisdiction agreement in favour of another member state court.
- Introducing new rules on staying proceedings in favour of prior proceedings in a non-member state.
- Extending the rules relating to jurisdiction agreements to apply where neither party is EU-domiciled.
- Extending the protective rules relating to consumer contracts and individual contracts of employment to apply to non-EU domiciled traders and employers in certain circumstances.
- Making member state judgments immediately enforceable across the EU.
- Clarifying the extent and effect of the exclusion of arbitration from the ambit of the recast Brussels Regulation.
We are able to assist in the registration and execution of foreign judgments in Cyprus. If you require further information or advice regarding the registration and enforcement of foreign judgments in Cyprus contact us using [email protected]