26 January 2015
The arbitral tribunal has been agreed upon at the International Chamber of Commerce in Paris with arbitrators appointed by the owners of FBME Bank, the Republic of Cyprus and a chairman for the tribunal. One of the first tasks for these arbitrators is to look at the urgent issue of damages for actions taken by the Central Bank of Cyprus’ Administrator since the filing for arbitration was accepted by the ICC on 28 October 2014.
The three-man arbitral tribunal is comprised by Professor Pierre Tercier (chairman), Professor Ibrahim Fadlallah and V V Veeder QC.
Professor Pierre Tercier is highly respected as a former chairman of the International Court of Arbitration of the International Chamber of Commerce. He is Professor Emeritus at the University of Fribourg and a visiting professor at numerous other universities, including Geneva and Paris. He has extensive international arbitration and dispute resolution experience.
Professor Ibrahim Fadlallah is Emeritus Professor of Law at the University of Paris. He has acted as arbitrator or counsel in numerous arbitration proceedings, ad hoc and under the Rules of the ICC, ICSID, the French Arbitration Association, and the European Development Fund. He is a former member of the ICC International Court of Arbitration and a member of the Council of the ICC Institute of World Business Law. He is also a Founding Member of the Euro-Arab Forum on Arbitration and a member of the International Law Institute. Mr V V Veeder QC practices as an arbitrator and legal adviser from Essex Court Chambers in London. He is a member of the ICCA Governing Board and the Arbitration Institute of the Stockholm Chamber of Commerce. He specialises in commercial law and foreign trade including international investment, banking and financial law.
The International Chamber of Commerce (ICC) is the largest, most representative business organisation in the world. ICC has three main activities: rule setting, dispute resolution, and policy advocacy. Because its member companies and associations are themselves engaged in international business, ICC has unrivalled authority in making rules that govern and regulate the conduct of business and treaties across borders.