Marfin v. Cyprus Marfin Investment Group Holdings S.A., Alexandros Bakatselos and others v. Republic of Cyprus (ICSID Case No. ARB/13/27)
Shareholdings in Cyprus Popular Bank (also known as the Laiki bank), held by 13 individual claimants and six corporate claimants.
Claims arising out of the issuance of a decree that increased the Government's participation in a Cypriot bank in which the claimants had invested, allegedly resulting in the take-over of the institution's management control and the bank's subsequent insolvency.
Tertiary: K - Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Hanotiau, B.
Price, D. M.
Edward, D. A. O.
Decided in favour of State
1101.10 mln EUR (1287.80 mln USD)
Data not available
Indirect expropriation

Arbitrary, unreasonable and/or discriminatory measures

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
None - all claims dismissed at the merits stage