Arbitral Digest

Matter

Iskandar Safa and Akram Safa v. Hellenic Republic (ICSID Case No. ARB/16/20)

Case no.
ARB/16/20
Applicable rules
ICSID Arbitration Rules (April 2006)
  1. 24 July 2020Arbitration

    24 July 2020Arbitration

    Decision on Jurisdiction and Liability dated 24 July 2020

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that the claims fell within its jurisdiction and were admissible to the stated extent, granted the fair and equitable treatment claim, dismissed the expropriation, full protection and security, umbrella clause, and ancillary frustration claims, reserved costs, and directed that quantum be decided in a subsequent phase.

    Supporting details

    3 authorities · 6 participants
    Iskandar Safa
    Akram Safa
    Hellenic Republic
    International Centre for Settlement of Investment Disputes

    Authorities cited

    3
    • Greek Law 4258/2014
      statute
    • Greek Law 4307/2014
      statute
    • ICC Case No. 18675/GZ/MHM/AGF/ZF/AYZ Award (ICC Case No. 18675/GZ/MHM/AGF/ZF/AYZ)
      case law

    2 years, 11 months and 6 days later · 1071 days

  2. 30 June 2023Arbitration

    30 June 2023Arbitration

    Award dated 30 June 2023

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal dismissed the Claimants' claim for compensation, ordered the Claimants to pay specified legal costs to the Respondent, ordered the Respondent to pay the Claimants 50% of their legal costs in the liability phase, directed the Parties to share equally the fees and expenses of the Tribunal and the costs of the ICSID facilities, and denied all other requests for relief.

    Supporting details

    4 authorities · 6 participants
    Iskandar Safa
    Akram Safa
    Hellenic Republic
    International Centre for Settlement of Investment Disputes

    Authorities cited

    4
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States
      treaty
    • ICSID Rules of Procedure for Arbitration Proceedings (ICSID Arbitration Rules in effect as of April 2006)
      rules
    • ICSID Institution Rules
      rules
    • Agreement between the Lebanese Republic and the Hellenic Republic on the Promotion and Reciprocal Protection of Investments (dated 24 July 1997, entered into force 17 July 1999)
      treaty

Matter record

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Iskandar Safa and Akram Safa v. Hellenic Republic (ICSID Case No. ARB/16/20) · Matter