Cyprus International Arbitration Center launched
// May 15th, 2010 // No Comments » // Dispute Resolution, Private International Law
The launch of the Cyprus International Arbitration Centre (CIAC) has been announced recently, a new arbitration centre that will handle domestic and international arbitrations under either its own Arbitration Rules or the UNCITRAL Arbitration Rules. The CIAC is a not-for-profit company that was established by a group of businesses and professionals in Cyprus. The management committee is headed by former Judge Sotos Demetriou, also a member of the Permanent Court of Arbitration (PCA).
It is hoped that the CIAC will attract cases that are usually heard by the PCA, the European Court of Arbitration or the London Court of International Arbitration. Considering the long waiting list for court cases in Cyprus, the arbitration process offered should pose as an attractive alternative for parties with disputes.
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