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To complete the bill for the commercial court

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To complete the bill for the commercial court

Insider / ΚΥΠΕ

The Minister of Justice, Stefi Drakou, expressed the hope that the unified bill for the creation of a commercial court and a naval court will be completed at the next session of the Legal Committee.

After participating in the meeting of the Committee, she stated that the bill will deal with serious trade disputes that the economy needs and that is in line with the desire of Cyprus to be an economic center. Regarding the maritime court, he said that it is necessary since the Cypriot shipping is third in the world and should operate to administer justice in maritime disputes. For the commercial court he mentioned that there was an understanding, while for the naval court he expressed the hope that the bill would be completed in the next session.

The Chairman of the Committee, DISY MP Nikos Tornaritis said that they are on a very good path thanks to the direct intervention of the Minister who incorporated the wishes of the Committee in the revised text, while he also had a consultation with the bar association and other bodies. He also noted that the creation of a commercial court is imperative for a modern state.

AKEL MP Aristos Damianou said that the Republic of Cyprus should make use of the opportunities to create the conditions for sustainable development and attractive environments for investment and business. He added that AKEL's suggestions have been adopted in the revised bill.

DIKO MP Christiana Erotokritou stated that the creation of a commercial court and a naval court is necessary for the development of the economy of Cyprus. He expressed the view that the commercial court should offer the advantages offered by other jurisdictions so that Cyprus can offer its own comparative advantages such as lower costs. This court, he also said, should give the possibility and the right to use the English language, in order to give an advantage to the parties that Cyprus is trying to attract.

EDEK MP Kostis Evastathiou referred to the reform of justice that the key is for the citizen to have free, cheap access and rapid administration of justice.

Source: www.philenews.com

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