2014
Saab v. Cyprus Ayoub-Farid Saab and Fadi Saab v. Cyprus
Cyprus
Lebanon
Ownership of Tanzanian-based FBME Bank, which conducted most of its operations in Cyprus.
Claims arising out of the decision by Cyprus’ Central Bank to place under administration and sell off two Cypriot branches of a bank owned by the claimants, following accusations that the bank was involved in money laundering operations.
Tertiary: K - Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
ICC (International Chamber of Commerce)
ICC (International Chamber of Commerce)
Tercier, P.
Fadlallah, I.
Veeder, V. V.
Decided in favour of State
Decision on Jurisdiction dated 10 September 2015
Award dated 15 January 2019
Dissenting Opinion
500.00 mln USD
Data not available
Indirect expropriation
None - all claims dismissed at the merits stage
None
http://globalarbitrationreview.com/news/article/32913/%20icc-hear-treaty-claim-against-cyprus/ (requires subscription)
http://www.fincen.gov/news_room/nr/html/20140716.html
http://www.fbmeltd.com/wp-content/uploads/2014/11/14-11-28-RequestForArbitration-1-EN.pdf
http://www.dailystar.com.lb/News/Lebanon-News/2014/Jul-18/264302-us-accuses-lebanese-owned-bank-of-money-laundering.ashx
http://www.centralbank.gov.cy/nqcontent.cfm?a_id=13713
http://www.fbmeltd.com/icc-arbitration-panel-formed/
http://www.fbmeltd.com/arbitration-update-2/
http://www.fbmeltd.com/shareholders-seek-500-million-damages/
http://globalarbitrationreview.com/news/article/33595/icc-tribunal-firmly-invites-cyprus-stop-sale-treaty-claim/ (requires subscription)
http://globalarbitrationreview.com/news/article/33229/counsel-place-treaty-claim-against-cyprus/ (requires subscription)
http://www.iareporter.com/articles/20150204_3 (requires subscription)
http://www.iareporter.com/articles/arbitrators-finalized-to-hear-icc-claim-against-cyprus-arising-out-of-take-over-of-controversial-bank/ (requires subscription)
http://www.fbmeltd.com/2015/09/
http://www.iareporter.com/articles/jurisdictional-hurdles-cleared-in-icc-treaty-claim-vs-cyprus-over-bank-take-over/ (requires subscription)
http://globalarbitrationreview.com/news/article/34176/treaty-claim-against-cyprus-gets-all-clear/ (requires subscription)
https://www.iareporter.com/articles/cyprus-prevails-in-another-investment-treaty-arbitration-this-time-defeating-claims-under-lebanon-bit-relating-to-controversial-bank/ (requires subscription)
https://www.pio.gov.cy/%CE%B1%CE%BD%CE%B1%CE%BA%CE%BF%CE%B9%CE%BD%CF%89%CE%B8%CE%AD%CE%BD%CF%84%CE%B1-%CE%AC%CF%81%CE%B8%CF%81%CE%BF.html?id=5809#flat
http://www.fbmeltd.com/2019/01/