Case Details

Libyan Investment Authority v. Kingdom of Belgium (ICSID Case No. ARB(AF)/23/3)

Subject of Dispute:

Banking and financial services
Economic Sector:

Finance
Instrument(s) Invoked:

BIT Libya - Belgium-Luxembourg 2004
Applicable Rules:

ICSID Additional Facility - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Libyan Investment Authority (Libyan)
Respondent(s):

Kingdom of Belgium (Belgian)
Date Registered:

December 11, 2023
Date of Constitution of Tribunal:

March 8, 2024

Composition of Tribunal

President:

Eduardo ZULETA (Colombian) - Appointed by Co-Arbitrators
Arbitrators:

Awn Shawkat AL-KHASAWNEH (Jordanian) - Appointed by the Claimant(s)
Zachary DOUGLAS (Australian, Swiss) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Lindeborg Counsellors at Law, London, U.K.
Harding Mitchell Solicitors, London, U.K.
Respondent(s):

Taylor Wessing, London, U.K.
Language(s) of Proceeding:

English
Status of Proceeding:

Pending
Latest Development:

November 27, 2024 - The Tribunal issues a decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question; as a result, the proceeding on the merits is suspended.

No References Available.

(a) Original Proceeding

Date	Development
December 11, 2023	The Secretary-General registers a request for the institution of arbitration proceedings.
January 29, 2024	Following appointment by the Claimant, Awn Al-Khasawneh (Jordanian) accepts his appointment as arbitrator.
January 30, 2024	Following appointment by the Respondent, Zachary Douglas (Australian/Swiss) accepts his appointment as arbitrator.
March 8, 2024	Following appointment by his co-arbitrators pursuant to the parties’ agreement, Eduardo Zuleta (Colombian) accepts his appointment as presiding arbitrator.
March 8, 2024	The Tribunal is constituted in accordance with ICSID Additional Facility Rule 29. Its members are: Eduardo Zuleta (Colombian), President, appointed by his co-arbitrators pursuant to the parties’ agreement; Awn Al-Khasawneh (Jordanian), appointed by Claimant; and Zachary Douglas (Australian/Swiss), appointed by Respondent.
May 3, 2024	The Tribunal holds a first session by videoconference.
May 13, 2024	The Claimant files a submission regarding its representation.
May 29, 2024	The Respondent files observations on the representation of the Claimant.
May 30, 2024	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
June 28, 2024	The Tribunal issues Procedural Order No. 2 on the representation of the Claimant.
August 16, 2024	The Claimant files a memorial on the merits.
September 30, 2024	The Respondent files a request to address the objections to jurisdiction as a preliminary question pursuant to ICSID Additional Facilities Arbitration Rule 54.
October 30, 2024	The Claimant files observations on the request to address the objections to jurisdiction as a preliminary question pursuant to ICSID Additional Facilities Arbitration Rule 54.
November 7, 2024	The Respondent files a response to the Claimant’s observations of October 30, 2024.
November 12, 2024	The Claimant files a response to the Respondent’s observations of November 7, 2024.
November 27, 2024	The Tribunal issues a decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question; as a result, the proceeding on the merits is suspended.