Case Details

Gold Reserve Inc. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/09/1)

Subject of Dispute:

Mining company
Economic Sector:

Oil, Gas & Mining
Instrument(s) Invoked:

BIT Canada - Venezuela, Republica Bolivariana de 1996
Applicable Rules:

ICSID Additional Facility - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Gold Reserve Inc. (Canadian)
Respondent(s):

Bolivarian Republic of Venezuela (Venezuelan)
Date Registered:

November 9, 2009
Date of Constitution of Tribunal:

March 9, 2010

Composition of Tribunal

President:

Piero BERNARDINI (Italian) - Appointed by the Parties
Arbitrators:

Pierre-Marie DUPUY (French) - Appointed by the Respondent(s)
David A.R. WILLIAMS (New Zealand) - Appointed by the Claimant(s)

Party Representatives

Claimant(s):

White & Case, Washington, D.C., U.S.A.
Respondent(s):

Foley Hoag, Washington, D.C., U.S.A.
Procuraduría General de la República, Caracas, Venezuela
Language(s) of Proceeding:

English,Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

September 22, 2014 - The Tribunal renders its award.

(b) Correction Proceeding

Applicant(s)/Requesting Party(ies):

Both Parties
Date Registered:

November 4, 2014 (Claimant(s)), November 5, 2014 (Respondent(s))

Party Representatives

Claimant(s):

White & Case, Washington, D.C., U.S.A.
Respondent(s):

Foley Hoag, Washington, D.C., U.S.A.
Procuraduría General de la República, Caracas, Venezuela
Status of Proceeding:

Concluded
Outcome of Proceeding:

December 15, 2014 - The Tribunal issues a decision on Claimant’s and Respondent’s requests for correction.

(a) Original Proceeding

Published Decisions

Award - English (Original) (September 22, 2014)

(b) Correction Proceeding

Published Decisions

Decision regarding the Claimant's and the Respondent's Requests for Corrections - English (Correction) (December 15, 2014)

(a) Original Proceeding

Date	Development
November 9, 2009	The Secretary-General registers a request for the institution of arbitration proceedings.
March 9, 2010	The Tribunal is constituted. Its members are: Piero Bernardini (Italian), President; Pierre-Marie Dupuy (French); and David A.R. Williams (New Zealand).
April 23, 2010	The Tribunal holds a first session by telephone conference.
September 24, 2010	The Claimant files a memorial on the merits.
December 10, 2010	The Respondent files a request for production of documents.
December 22, 2010	The Respondent files a memorial on jurisdiction.
December 24, 2010	The Claimant files observations on the Respondent’s request for production of documents.
January 14, 2011	The Claimant files observations on the Respondent's preliminary objections.
January 26, 2011	The Claimant files observations on the Respondent’s request for production of documents.
February 3, 2011	The Tribunal issues a procedural order concerning production of documents.
February 25, 2011	The Tribunal decides that the Respondent’s jurisdictional objections will be joined to the merits in accordance with Arbitration (Additional Facilities) Rule 45(5).
April 14, 2011	The Respondent files a counter-memorial on jurisdiction and merits.
May 16, 2011	The Claimant files a request for production of documents.
June 1, 2011	The Respondent files observations on the Claimant’s request for production of documents.
June 2, 2011	The Claimant files a response to the Respondent’s observations of June 1, 2011.
June 8, 2011	The Respondent files a response to the Claimant’s observations of June 2, 2011.
June 9, 2011	The Tribunal issues a decision on production of documents.
July 29, 2011	The Claimant files a reply on the merits.
December 9, 2011	The Respondent files a rejoinder on the merits.
February 13, 2012 - February 17, 2012	The Tribunal holds a hearing on jurisdiction and merits in Washington, D.C.
March 16, 2012	Each party files a post-hearing brief.
May 25, 2012	The Claimant files observations on the Respondent’s post-hearing brief.
June 8, 2012	The Respondent files a response to the Claimant’s observations of May 25, 2012.
June 18, 2012	The Claimant files observations on the Respondent’s response of June 8, 2012.
July 25, 2012	The Tribunal issues a procedural order concerning production of further expert evidence.
December 10, 2012	The Claimant files a request for the Tribunal to issue instructions for the implementation of Procedural Order No. 2.
January 21, 2013	Following several exchanges between the parties, the Tribunal decides on the Claimant’s request of December 10, 2012.
January 25, 2013	The Claimant files a request for the Tribunal to issue further instructions for the implementation of Procedural Order No. 2. The Respondent files observations on the Claimant’s request of January 25, 2013.
January 29, 2013	The Tribunal issues a decision on the Claimant’s request of January 25, 2013.
February 1, 2013	The Tribunal decides on the procedural calendar.
February 26, 2013	The Respondent files a request for the Tribunal to decide on production of documents.
February 28, 2013	The Claimant files observations on the Respondent’s request of February 26, 2013. The Respondent amends its request of February 26, 2013.
March 1, 2013	The Tribunal decides on the Respondent’s request of production of documents of February 26, 2013.
March 5, 2013	The Claimant files observations on Respondent’s amended request of February 28, 2013.
March 8, 2013	The Respondent files a response to the Claimant’s observations of March 5, 2013.
March 11, 2013	The Claimant files further observations on the Respondent’s request of February 28, 2013.
March 12, 2013	The Tribunal decides on the Respondent’s amended request for production of documents of February 28, 2013.
April 9, 2013	The Tribunal decides on the procedural calendar for the oral procedure.
April 15, 2013	The Tribunal decides on the procedural calendar for the written and oral procedure.
April 26, 2013	The Tribunal confirms the parties’ agreement to amend the procedural calendar for the written procedure.
May 7, 2013	The Tribunal confirms the parties’ agreement to further amend the procedural calendar for the written procedure.
May 24, 2013	Each party files an expert report.
July 3, 2013	Each party files a reply expert report.
August 5, 2013	Each party files observations on the other party's expert report.
September 9, 2013	The Tribunal issues Procedural Order No. 3 concerning procedural matters.
October 15, 2013 - October 16, 2013	The Tribunal holds a hearing on further expert evidence in Paris.
October 22, 2013	The Tribunal issues Procedural Order No. 4 concerning the post-hearing procedural calendar.
December 23, 2013	Each party files a post-hearing brief.
May 26, 2014	Each party files a statement of costs.
July 10, 2014	The Claimant files a request for the Tribunal to consider further evidence.
July 21, 2014	The Respondent files observations on the Claimant’s request of July 10, 2014.
July 23, 2014	The Tribunal issues a decision on the admissibility of further evidence. The Tribunal declares the proceeding closed in accordance with Article 44 of the Arbitration (Additional Facility) Rules.
September 22, 2014	The Tribunal renders its award.

(b) Correction Proceeding

Date	Development
October 31, 2014	The Respondent files a request for correction of the Award pursuant to Article 56 of the Arbitration (Additional Facility) Rules.
November 4, 2014	The Claimant files a request for correction of the Award pursuant to Article 56 of the Arbitration (Additional Facility) Rules.
November 5, 2014	The Respondent files a supplement to its request for correction of the Award.
November 13, 2014	Each party files observations on the other party’s request for correction of the Award.
December 15, 2014	The Tribunal issues a decision on Claimant’s and Respondent’s requests for correction.