On 23 March 2023, Bill n° 7671/07, entitled Bill of Reform and Modernisation of Arbitration (the “Bill”), which sought to reform the arbitration law in Luxembourg, was unanimously passed in the Chamber of Deputies, Luxembourg’s legislature. The Preamble of the Bill describes the context of the reform by noting that Luxembourg’s arbitration law had not […]
Can Russian Investors Initiate Arbitration Against Cyprus to Recover their Losses?
Many Russian depositors are facing losses of up to 40 percent in Cyprus, and are currently considering their legal options. Should one of these options be initiating an investment treaty arbitration against Cyprus for expropriation on the basis of the 1997 Russian Federation-Cyprus bilateral investment treaty, which is included here: IAA-Bilateral-Investment-Treaty-Between-Russia-and-Cyprus. Such a claim could most […]