Case Details

Yaacov Afik, Michael Mistriel Aykout and Shimon Mistriel Aykout v. Republic of Cyprus (ICSID Case No. ARB/25/45)

Claimant(s)/Nationality(ies):

Yaacov Afik (Israeli), Michael Mistriel Aykout (Israeli), Shimon Mistriel Aykout (Israeli)
Respondent(s):

Republic of Cyprus (Cypriot)
Date Registered:

October 6, 2025
Date of Constitution of Tribunal:

April 7, 2026

President:

David UNTERHALTER (Maltese, South African) - Appointed by the Parties
Arbitrators:

Stephan SCHILL (German) - Appointed by the Claimant(s)
Attila Massimiliano TANZI (Italian) - Appointed by the Respondent(s)

Claimant(s):

Gherson Solicitors, London, U.K.
Berkman & Co., Tel Aviv, Israel
Lucas Bastin KC, Essex Court Chambers, London, U.K.
Boxun Yin, Banco Chambers, Sydney, Australia
Respondent(s):

Attorney General, Nicosia, Republic of Cyprus
Foley Hoag, Washington, D.C. and New York, NY, U.S.A.
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

June 19, 2026 - The Tribunal issues Procedural Order No. 2 concerning transparency and confidentiality.

No References Available.

Date	Development
October 6, 2025	The Secretary-General registers a request for the institution of arbitration proceedings.
January 7, 2026	Following appointment by the Claimants, Stephan Schill (German) accepts his appointment as arbitrator.
January 15, 2026	Following appointment by the Respondent, Attila Tanzi (Italian) accepts his appointment as arbitrator.
April 7, 2026	Following appointment by agreement of the parties, David Unterhalter (Maltese, South African) accepts his appointment as presiding arbitrator. The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: David Unterhalter (Maltese, South African), President, appointed by agreement of the parties; Stephan W. Schill (German), appointed by the Claimants; and Attila Massimiliano Tanzi (Italian), appointed by the Respondent.
May 7, 2026	The Tribunal holds a first session by video conference.
June 19, 2026	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
June 19, 2026	The Tribunal issues Procedural Order No. 2 concerning transparency and confidentiality.