Law 101/87 on the International Commercial Arbitration Law (“the Law”) provides inter alia for the jurisdiction of Cypriot Courts to issue interim relief or interim measures of protection in aid and/or in support of international commercial arbitration cases, either before the filing of same, or during such arbitral proceedings.
The Supreme Court of Cyprus (in its admiralty jurisdiction), held in the case THE SHIP ATHENS, that the Admiralty Court does not have in rem jurisdiction to issue a warrant of arrest of a ship in aid and/or in support of an international commercial arbitral case, because the purpose of the in the rem jurisdiction is to provide security in respect of the action in rem, and not to provide security in some other proceedings.
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