Greek family urges Cyprus to release €5 million ICSID compensation for quadriplegic daughter
A Greek family is publicly pleading with the Cypriot government to release nearly €5 million awarded by the International Centre for Settlement of Investment Disputes (ICSID). The compensation relates to funds lost in Cyprus' 2013 banking crisis bail-in, a ruling Cyprus has so far not complied with. The family, whose daughter became quadriplegic after a medical mishap, is the sole claimant awarded damages on humanitarian grounds in a case involving investors in Laiki Bank and Bank of Cyprus.
Despite a March 2026 ruling in their favor, Cyprus filed a partial annulment motion in July 2026, arguing the bilateral investment treaty was inoperative. The court is currently reconstituting its bench to review this motion, potentially extending the legal battle. The family, caring for their daughter who requires round-the-clock support, highlights the ongoing hardship and requests compassion from Cypriot authorities, emphasizing that the amount is modest in comparison to Cyprus’ broader legal victories.
Efforts at settlement have failed after Cyprus made insufficient offers and subsequently withdrew from negotiations. The family’s appeal has been sent directly to President Nikos Christodoulides and Attorney-General George Savvides, urging them to end the protracted dispute and ensure the well-being of their disabled daughter.
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