Poštová banka and Istrokapital v. Greece Poštová banka, a.s. and Istrokapital SE v. Hellenic Republic (ICSID Case No. ARB/13/8)

Ownership by Poštová banka of Greek Government bonds, characterized by claimants as a loan to the Greek Government, a claim to money, and a right to performance under a contract having financial value.
Claims arising out of the enactment of legislation that amended sovereign bond terms retroactively and unilaterally by the Government, allegedly allowing the imposition of new terms upon bondholders against their consent if a supermajority of other bondholders consented, in the context of Greece's 2012 sovereign debt restructuring.
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)
Zuleta, E.
Townsend, J. M.
Stern, B.
Decided in favour of State
500.00 mln EUR (529.00 mln USD)
Data not available
Indirect expropriation

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

Umbrella clause
None - jurisdiction declined
ICSID annulment proceedings
ICSID annulment proceedings
Award/decision upheld
Kettani, A. (President)

Edward, D. A. O. (Member)

Shin, H.-T. (Member)