The Attorney-General of the Republic of Cyprus as well as the President of the Supreme Court welcomed the establishment of a European court of Arbitration chapter in Cyprus during the launch ceremony which was organised by the Rotarians at the Hilton Cyprus.
Guest speakers at the event were the President of the European court of Arbitration Mr Mauro Sammartano from Milan and the President of the Cyprus Chapter of the European court of Arbitration Mr Yiannos Georgiades.
The Attorney General of the Republic emphasised that:
There is no doubt that the establishment of the Cyprus chapter in the Republic is especially beneficial in the fields of Arbitration and Mediation. The Cyprus chapter of the European Arbitration Court will have an important role to play in the correct and fast awarding of Justice.
The President of the chapter Mr Yiannos Georgiades argued that the involvement of UCLAN University, as the officially designated premises of the chapter, is particularly important in ensuring the smooth running and success of the chapter.
Mr Georgiades also stated that the extension of the European Court of Arbitration and Mediation to Cyprus which is operating since 1959 in Strasbourg will have significant benefits for Cyprus and its commercial sector.
“It will give the opportunity to Cypriot and foreign entrepreneurs to resolve amicably their differences in a fast and efficient way through specialised and experienced arbitrators. Its success will without a doubt attract citizens from other countries and in particular from neighbouring countries who choose Cyprus in order to resolve their commercial disputes. In this way Cyprus will become well known as a reliable International centre of Arbitration and Mediation.” He further concluded that the Cyprus chapter will promote education and know-how through academic and educational programmes for arbitrators and mediators.
The president of the Supreme Court Mr Muron Nikolatos stated that arbitration and mediation could prove to be very useful tools, especially for the resolution of commercial and economic disputes.
The commercial sector, he said, welcomes warmly the alternative forms of dispute resolution and he made reference to insurance companies, law firms, businesses and governmental departments which are looking for more cost-effective ways to handle the different requirements.
In conclusion, Mr Mauro Sammartano explained how the European Court of Arbitration operates and expressed his satisfaction for the creation of a Cyprus Chapter. He thanked, the Attorney General and the President of the Supreme Court for their very good words and support in the establishment of the Cyprus Chapter.
More than 130 persons attended the event among which there were Judges, Lawyers, Accountants, financial advisors, bankers and entrepreneurs.
The committee of the Cyprus Chapter is made up of the following:
President: Yiannos Georgiades
General Secretary: Antonis Ashotis