Theodoros Adamakopoulos and Others v. Republic of Cyprus, ICSID Case No ARB/15/49, Decision on Jurisdiction, 7 February 2020
This case note examines the findings of the Tribunal in the Decision on Jurisdiction in Adamakopoulos v. Cyprus, focusing on Respondent’s objections based on the alleged incompatibility of the BIT S and the EU Treaties, and the mass claim nature of the proceeding. The decision of the majority of the Tribunal in dismissing the EU law objection adds to a body of investment arbitration jurisprudence in which similar reasoning has been used to dismiss comparable objections. However, the dissenting opinion of Marcelo Kohen is the first time that an arbitrator, presented with an intra- EU investment arbitration claim, has considered that the tribunal lacks jurisdiction on the basis of the incompatibility between the relevant BIT S and EU law. Furthermore, Adamakopoulos is one of the few ‘mass claim’ arbitrations brought under the ICSID Rules. If it proceeds to the merits stage as planned, it will provide an opportunity for the Tribunal to resolve questions regarding the management of the procedure under the ICSID framework with such a large group of claimants, whilst maintaining the right to be heard, procedural equality and fairness.