Following the Cour de Cassation’s decision, which is the highest court in France, claimants have no legal means at their disposal to appeal against the arbitration’s decision
France’s Supreme Cout (Cour de Cassation) has vindicated the Central Bank of Cyprus (CBC) rejecting a claim of $1.4 billion, ruling that CBC’s action to place FBME bank into resolution was a prudent action that had not violated any obligations stemming from the bilateral investment convention between Cyprus and Lebanon, ending a legal battle since the resolution of the bank.
