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.
Greek investors claim that they were discriminated against and lost millions in the bail-in of Cypriot bank deposits some four years and have launched legal action against Cyprus.
Montenegro’s government said that the UNCITRAL arbitration tribunal dismissed all claims of Cyprus-based Central European Aluminum Company against the country.
Investment arbitration process between CEAC Holdings Limited and Montenegro was finished on 26th of July, in a way that the arbitration tribunal declared itself non-jurisdictional for this process.
The film explains how the settlement works and why it endangers necessary governmental rescue measures in financial crises as occurred in Greece, Cypress and Argentina.