ISDS Case Map
Cyprus
Businessman Samvel Karapetyan has won an international arbitration case against the Armenian government in connection with attempts by the authorities to nationalize his company, Electric Grids of Armenia.
Samvel Karapetyan, a prominent businessman and a founder of Tashir Group, one of the largest group of companies in Eastern Europe, together with his family, sent a notice of investment dispute to the state officials of the Republic of Armenia.
The lawsuit, filed against the Republic of Cyprus, is based on a 1998 bilateral investment treaty between Cyprus and Israel.
France’s highest court has brought an end to the $1.4 billion legal battle over the resolution of FBME Bank, ruling that the Central Bank of Cyprus acted prudently and did not breach any obligations under a bilateral investment treaty between Cyprus and Lebanon.
A Cyprus-registered shell company that owns a minority stake in Armenia’s largest mining enterprise has filed a $1.2 billion lawsuit against the Armenian government.
The World Bank’s International Centre for Settlement of Investment Disputes (ICSID) tribunal unanimously rejected a USD 600 million claim by depositors and bondholders of Laiki Bank and the Bank of Cyprus.
The arbitration has been discontinued in response to the non-payment of the claimant’s portion of the required advance payment of the costs of the proceeding.
Greek investors who were affected by the Cyprus bail-in have sought legal resort and now seem to stand a fair chance to have their case tried and possibly recuperate a portion of their losses in a mass arbitration to be held before the ICSID.
The Arbitration Institute of the Stockholm Chamber of Commerce has suspended the termination of the Chisinau International Airport concession contract until it reaches a final decision on the case.
The government will initiate a round of deliberations with political parties here after the House plenum voted against ratifying the Comprehensive Economic and Trade Agreement between the EU and Canada.
