3 December 2014

 The FBME Limited shareholders have retained a highly experienced legal counsel at the arbitral tribunal of the International Chamber of Commerce (ICC) in Paris, it has been announced today.

Legal counsel will be provided by Quinn Emanuel, led by the managing partner of the Paris office Philippe Pinsolle. He has acted as counsel in more than 200 international arbitrations, with a particular focus on investor-State arbitrations and commercial disputes. He has been involved in arbitrations under the auspices of virtually all major arbitration institutions including the ICC, the LCIA, the ICSID, the SCC, the AAA, the ICDR, the AFA, as well as in ad hoc cases under the UNCITRAL rules or otherwise. Philippe Pinsolle has also served as arbitrator in more than 40 cases, as well as expert witness on arbitration and French law issues.

FBME’s shareholders filed for arbitration at the ICC against the Republic of Cyprus on 28 October and through arbitration are seeking compensation for damages estimated to be at least US$500 million.

The arbitrator appointed by the shareholders is Professor Ibrahim Fadlallah, Emeritus Professor of Law at the University of Paris. Professor Fadlallah has acted as arbitrator or counsel in numerous arbitration proceedings at the ICC and other bodies. He is a former member of the ICC International Court of Arbitration, a member of the Council of the ICC Institute of World Business Law, a Founding Member of the Euro-Arab Forum on Arbitration and a member of the International Law Institute.