(October 2, 2015, 1:54 PM EDT) -- NEW YORK — A law firm on Sept. 30 announced that a group of Greek investors have formally filed an arbitration proceeding against the Republic of Cyprus, seeking damages related to a bailout and financial crisis in Cyprus.

Grant & Eisenhofer (G&E) said in a news release that a large group of Greek investors commenced the arbitration with the International Centre for Settlement of Investment Disputes (ICSID) in relation to losses arising from a financial crisis and a bailout of Cyprus in 2013.

Bailout

The claimants...