Arbitral Digest

Matter

Marfin Investment Group Holdings S.A., Alexandros Bakatselos and others v. Republic of Cyprus (ICSID Case No. ARB/13/27)

Case no.
ARB/13/27
  1. 26 July 2018Arbitration

    26 July 2018Arbitration

    Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal dismissed the claims by Andreas Vgenopoulos and Alexandros Bakatselos, found that it had jurisdiction over the remaining claims, found that the Republic of Cyprus had not breached the Treaty, dismissed the claim for damages and all other claims, and ordered the Claimants jointly and severally to pay the Republic of Cyprus EUR 5,000,000 as compensation for its reasonable costs in the arbitration.

    Supporting details

    2 authorities · 27 participants
    Marfin Investment Group Holdings S.A.
    Representative
    Jan Paulsson (For: Marfin Investment Group Holdings S.A.)
    Representative
    Luke Sobota (For: Marfin Investment Group Holdings S.A.)
    Representative
    Joshua Simmons (For: Marfin Investment Group Holdings S.A.)
    Representative
    Three Crowns (For: Marfin Investment Group Holdings S.A.)
    Representative
    Georgios Petrochilos (For: Marfin Investment Group Holdings S.A.)
    Representative
    Motohiro Maeda (For: Marfin Investment Group Holdings S.A.)
    Representative
    Michail Risvas (For: Marfin Investment Group Holdings S.A.)
    Representative
    Michail Dekastros (For: Marfin Investment Group Holdings S.A.)
    Representative
    Ryan Manton (For: Marfin Investment Group Holdings S.A.)
    Representative
    Bruce Macaulay (For: Marfin Investment Group Holdings S.A.)
    Representative
    David Herlihy (For: Marfin Investment Group Holdings S.A.)
    Representative
    Christopher Lillywhite (For: Marfin Investment Group Holdings S.A.)
    Representative
    Skadden, Arps, Slate, Meagher & Flom (UK) LLP (For: Marfin Investment Group Holdings S.A.)
    Representative
    Demetris L. Araouzos (For: Marfin Investment Group Holdings S.A.)
    Representative
    Chrysses Demetriades & Co, LLC (For: Marfin Investment Group Holdings S.A.)
    Representative
    Tariq Baloch (For: Marfin Investment Group Holdings S.A.)
    Representative
    Mark Wassouf (For: Marfin Investment Group Holdings S.A.)
    Representative
    3 Verulam Buildings (For: Marfin Investment Group Holdings S.A.)
    Representative
    Fotios Karatzenis (For: Marfin Investment Group Holdings S.A.)
    Alexandros Bakatselos
    Republic of Cyprus
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Daniel M. Price
    Institutional administrator
    Martina Polasek
    Tribunal secretary
    Iuliana Iancu

    Authorities cited

    2
    • Agreement between the Government of the Hellenic Republic and the Government of the Republic of Cyprus (Signed 30 March 1992; entered into force 26 February 1993)
      statute
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States
      statute

Matter record

Report a correction

Marfin Investment Group Holdings S.A., Alexandros Bakatselos and others v. Republic of Cyprus (ICSID Case No. ARB/13/27) · Matter

Marfin Investment Group Holdings S.A., Alexandros Bakatselos and others v. Republic of Cyprus (ICSID Case No. ARB/13/27)