Stavros Pavlou and Athina Patsalidou on how Cyprus has embraced alternative dispute resolution, becoming an increasingly attractive venue for arbitration proceedings
As Cyprus has emerged as an international business centre it requires an efficient and effective dispute resolution mechanism that will allow stakeholders to move on from disputes and concentrate on their core business. Given the long delays experienced within the traditional court system, arbitration as an alternative dispute resolution method, provides such an efficient system for dispute resolution and promotes economic activity in Cyprus. The main areas in which arbitration is used in Cyprus are commercial disputes, shareholder disputes, construction disputes and banking disputes between debtors and financial institutions.
