Theodoros Adamakopoulos and Others v. Republic of Cyprus (Decision on Jurisdiction), ICSID Case No. ARB/15/49, 07 February 2020

An ongoing ICSID proceeding in Washington D.C. concerning multiparty claims brought under the Cyprus-Greece bilateral investment treaty (BIT) and the Belgium-Luxembourg Economic Union-Cyprus BIT. The Claimants—951 Greek natural persons, six Greek companies, and one company incorporated in Luxembourg—allege that Cyprus’ restructuring plan following the Greek economic crisis violated Cyprus’ obligations under the BITs. In February 2020, the ICSID Tribunal held that it had jurisdiction over the dispute.