In a recent decision, the Court recognized its power to appoint a Receiver by a way of equitable execution of a judgment.
The case concerned an Application to extend the powers of the Interim Receiver. The Interim Receiver had been appointed in the context of the Application for the recognition and enforcement of a Foreign Judgment as an ancillary order to the wide freezing orders. At the rime of issue of a final judgment in the enforcement application the validity of the interim orders appointing the Interim Receiver was also extended post judgment. Subsequently, the Applicants filed an application requesting an extension of the powers of the Interim receiver in order to assist to the equitable execution of the judgment.
The Court acknowledge its power to appoint a Receiver by a way of equitable execution ( post judgment) and applied the relevant principles proportionally covering the case of the extension of the powers of an already appointed receiver, for the purpose of executing the decision.
For further information on this topic please contact
Mrs. Anna Lamprou( at SOTERIS PITTAS & CO LLC,
by telephone (+357 25 028460) or by fax (+357 25 028461)
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