G&E Wins Historic Ruling by World Bank’s ICSID Tribunal Allowing Mass Arbitration of Greek Claims against Republic of Cyprus

ATHENS/NEW YORK (February 10, 2020) – In a landmark decision issued Feb. 7, the International Centre for Settlement of Investment Disputes, an international tribunal affiliated with the World Bank, ruled that it has jurisdiction over arbitration proceedings brought by Grant & Eisenhofer against the Republic of Cyprus on behalf of almost 1,000 Greek bank depositors and bondholders who claim heavy losses in the wake of Cyprus’s 2013 financial crisis.

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