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Challenge to Happ centered on his work as counsel in intra-EU dispute context
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Costs go Cyprus’s way, although only partly
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Tribunal declines to expand jurisdiction beyond expropriation claim
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Tribunal has prima facie jurisdiction to decide claims on merits
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Tribunal review “contradictory” case law on investment
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No expropriation absent “substantial deprivation”
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Some further details can be gleaned from an SCC publication
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Claimants’ failure to properly articulate request for relief leads to further shifting of costs in respondent’s favor
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Other considerations do not affect allocation of costs
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Tribunal recognizes only 35% of claimants’ legal costs as reasonable, greater part of legal work deemed not related to arbitration due to not being relied upon during the proceedings
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Parties’ relative success on jurisdiction and merits is the starting point for tribunal’s cost assessment
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In the end, costs split 90:10 in favor of respondent
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Claimants’ failure to submit evidence leads to dismissal of claim
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Tribunal side-steps question of legality of share ownership
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Counter-objection on waiver is rejected, while jurisdiction ratione personae is accepted
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Shares are investments, regardless of price of acquisition
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Tribunal finds six-month negotiation period futile, and dismisses concerns over power of attorney for legal representation
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Claimants distance themselves from their controllers, while Poland views seizures as normal response to suspected crime
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