Cyprus Property Forum for Buyers, Sellers & Investors

Hi, If you get the right outcome in court, and you are awarded a sum of money, how easy/difficult is it to extract that money out of the guilty party, assuming they have not salted away their assets?

Hi Jessica,

In Cyprus there are some very effective measures in place for extracting money awarded by the court. The most effective method is to 'memo' all properties and land owned by the judgment debtor. This leaves the debtor unable to raise a mortgage or sell any of their properties unless the judgment is first paid off. Of course this only works if the debtor owns properties.

Another effective method is freezing the debtor's bank accounts and this is an order which is granted far more easily in Cyprus than it is in England. As you will imagine it is also extremely effective.

Regards,

Thanks for your reply Nigel. Nice to know there can be strict measures used, especially as there are many more cases being taken to court these days.