Displaying items by tag: papanikolis class

The case dates back to the year 2000, when the Greek government ordered new submarines essential for the country’s defense from a German company. The first submarine (“PAPANIKOLIS”) was built in Germany, while the remaining ones were to be constructed at the Skaramagas Shipyards, which had been acquired by the same German manufacturer. Despite the Greek state having already paid around €2 billion and with five submarines near completion, the German side unilaterally terminated the contracts and initiated international arbitration proceedings.