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Yaakov (Jack) Aykout Afik, the Largest Property Developer in Cyprus, Sues President Nikos Christodoulides and the Republic of Cyprus for Hundreds of Millions of Euros in Monetary Damages Over Proceedings Against Him and His Business in Turkish Cyprus - Pr

Summary by pressreach.com
The proceedings against the Republic of Cyprus are based on the 1998 Reciprocal Promotion and Protection of Investments Treaty, an international arbitration treaty between the Republic of Cyprus and the state of Israel, of which Afik is a citizen.  NICOSIA, Cyprus, April 2, 2025 /PRNewswire/ — Afik is seeking hundreds of millions euros in damages from Cyprus for the breach of its obligations under the treaty, resulting in lost sales, impairment …
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Yaakov (Jack) Aykout Afik, the Largest Property Developer in Cyprus, Sues President Nikos Christodoulides and the Republic of Cyprus for Hundreds of Millions of Euros in Monetary Damages Over Proceedings Against Him and His Business in Turkish Cyprus - Pr

The proceedings against the Republic of Cyprus are based on the 1998 Reciprocal Promotion and Protection of Investments Treaty, an international arbitration treaty between the Republic of Cyprus and the state of Israel, of which Afik is a citizen.  NICOSIA, Cyprus, April 2, 2025 /PRNewswire/ — Afik is seeking hundreds of millions euros in damages from Cyprus for the breach of its obligations under the treaty, resulting in lost sales, impairment …

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pressreach.com broke the news in on Wednesday, April 2, 2025.
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