CYPRUS Law and Practice Contributed by: George Middleton and Christoforos Iosif, Chryssafinis & Polyviou LLC
2.4 Post-Judgment Procedures for Determining Defendants’ Assets
debtor entirely and collects the monies from the third party directly. 2.3 Costs and Time Taken to Enforce Domestic Judgments Writ of Movables This is a speedy and cost-effective enforcement measure. However, it is important to note that the practical execution of these writs often proves to be challenging. Registering a Charge (Memo) on Property This is also a speedy and cost-effective measure that can be registered for a small fee as soon as the judg - ment is issued. Application to Sell the Property This can be filed for a small fee as soon as a memo is registered. However, in practice it takes a very long time (if ever) for these applications to be processed and acted upon by the Land Registry Office. Winding-Up Petition This is often the most effective measure against com - panies, especially if the company in question is opera - tional and wishes to remain so but refuses to settle the judgment debt. The cost depends on whether the winding-up petition will be challenged by the debtor or any other inter - ested party. Third-Party Debt Order (Garnishee Order) This is also an effective measure in cases where the successful claimant has knowledge or reasonable suspicion of a third party that owes or is about to transfer a monetary amount to the debtor. This meas - ure is often pursued against banks or tenants of the debtor. The usual practice is for the judgment creditor to secure an ex parte order preventing the third-party debtor of the judgment debtor from paying the judg - ment debtor directly, and an inter partes application for an order against the third party to effect the payment directly to the judgment creditor. Timing depends on whether the application will be contested by the judg - ment debtor or third party.
The judgment creditor may apply in court for the finan - cial examination of the judgment debtor, and this pro - cedure may include an order against the judgment debtor to file an affidavit listing all movable or immov - able assets they may own. Real Estate Assets Typically, a claimant (plaintiff) can only conduct a search at the Land Registry Office once they have secured a court judgment against the other party, with the aim of registering an encumbrance/memo on properties and subsequently an application to sell the property. Monies Deposited in Banks Banks will not reveal any amounts deposited with them unless ordered to do so by the court. This is usually done after a court judgment, through the filing of a third-party debt order (garnishee order). Shares Searches on companies that aim to establish the com - pany’s shareholders can also be conducted prior to the issuance of a final court judgment. 2.5 Challenging Enforcement of Domestic Judgments Defendants may seek to challenge the enforcement of domestic judgments in one of the ways outlined here. In Default of Appearance The defendant may claim that the proceedings were not properly served on them and may therefore seek to set aside the judgment. Delay by the defendant in pursuing such an action, or delay in filing the appear - ance in the first place, are the two major factors taken into consideration by courts examining such appli - cations to set aside judgments issued by default of appearance. Judgment by Consent A judgment by consent cannot be easily disputed or set aside. This may, however, be challenged on cer - tain grounds, for example, when the defendant did not authorise their lawyer to accept judgment. In cases where a consensual judgment was secured, a third
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