Introduction
The limitation periods for actionable claims are regulated in Cyprus by the Limitation of Actionable Rights Law of 2012 (66 (I)/2012), as amended (the “Law”), which specifies and sets the rules on the periods of time within which a party can bring a claim depending on the different types of cause of action. In practice, if a claim is brought against or a notice of claim is served, outside the specified timeframe it may procedurally be deemed unenforceable in the event the defendant pleads the defence of limitation. The table below outlines such limits:
Other provisions:
– The court has discretion, on equitable and reasonable grounds, to extend the period of limitation for up to 2 years.
– The defence of limitation of action can be brought in court be any party.
– The Law includes specific provisions for the suspension or disruption of limitation periods.
– In cases where the right of action (i) is concealed by the fraud of the defendant or (ii) is for relief from the consequences of a mistake, then the period of limitation shall not begin to run until the claimant has discovered the fraud or mistake, or could, with reasonable diligence, have discovered it.
Key Contacts
For further information, please contact:
Pavlos Kaimakliotis
Partner
Tel: +357 24 01 01 01
pavlos.kaimakliotis@kaimakliotis.com
Alex Apostolatos
Legal Advisor
Tel: +357 24 01 01 06
alex.apostolatos@kaimakliotis.com