Case Details

Deutsche Bank AG v. Democratic Socialist Republic of Sri Lanka (ICSID Case No. ARB/09/2)

Proceeding Materials Procedural Details

  • Hedging agreement
  • Finance
  • BIT Germany - Sri Lanka 2000
  • ICSID Convention - Arbitration Rules

    (a) Original Proceeding

    • Deutsche Bank AG (German)
    • Democratic Socialist Republic of Sri Lanka (Sri Lankan)
    • March 24, 2009
    • July 6, 2009

      Party Representatives

    • Allen & Overy, Hong Kong, China
      Julius & Creasy, Colombo, Sri Lanka
    • Attorney General
      James Crawford, Clive Freedman, Ali Malek, and Simon Olleson, London, U.K.
    • English
    • Concluded
    • October 31, 2012 - The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator Makhdoom Ali Khan.

    (b) Annulment Proceeding

    • Respondent(s)
    • March 8, 2013 (Respondent(s))
    • April 17, 2013

      Party Representatives

    • Allen & Overy, Hong Kong, China, London, U.K., Singapore and Prague, Czech Republic
    • Attorney General
      Toby Landau, Ali Malek, and Simon Olleson, London, U.K.
    • English
    • Concluded
    • September 9, 2016 - The Tribunal issues a procedural order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 43(1).

(a) Original Proceeding

Date Development
March 24, 2009 The Acting Secretary-General registers a request for the institution of arbitration proceedings.
May 27, 2009 Following appointment by the Claimant, David A.R. Williams (New Zealand) accepts his appointment as arbitrator.
May 28, 2009 Following appointment by the Respondent, Makhdoom Ali Khan (Pakistani) accepts his appointment as arbitrator.
July 1, 2009 Following appointment by his co-arbitrators, Bernard Hanotiau (Belgian) accepts his appointment as presiding arbitrator.
July 6, 2009 The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Bernard Hanotiau (Belgian), President, appointed by agreement of his co-arbitrators; David A.R. Williams (New Zealand), appointed by the Claimant; and Makhdoom Ali Khan (Pakistani), appointed by the Respondent.
September 9, 2009 The Tribunal holds a first session by telephone conference.
September 25, 2009 The Claimant files a memorial on the merits.
December 14, 2009 The Respondent files objections to jurisdiction and reiterates its request to address the objections to jurisdiction as a preliminary matter.
January 14, 2010 The Claimant files observations on the Respondent's objections to jurisdiction and on the request to address the objections to jurisdiction as a preliminary matter.
January 26, 2010 The Respondent files a response to the Claimant's observations of January 14, 2010.
February 9, 2010 The Claimant files a reply to the Respondent's response of January 26, 2010.
February 25, 2010 The Tribunal issues a procedural order concerning the Respondent’s request to address the objections to jurisdiction as a preliminary matter.
April 1, 2010 The Claimant files a request for production of documents.
The Respondent files a counter-memorial on the merits.
April 9, 2010 The Tribunal issues a procedural order concerning production of documents.
May 17, 2010 The Claimant files a reply on the merits and a counter-memorial on jurisdiction.
June 3, 2010 The Respondent files a request for production of documents and an application for adjournment of the hearing.
The Claimant files observations on the Respondent's request for production of documents.
June 7, 2010 The Claimant files observations on the Respondent's application for adjournment of the hearing.
June 8, 2010 The Respondent files a response to the Claimant’s observations of June 7, 2010.
June 9, 2010 The Tribunal decides on the Respondent’s application for adjournment of the hearing.
June 10, 2010 The Tribunal partially decides the Respondent’s request for production of documents.
June 23, 2010 The Tribunal issues a procedural order concerning production of documents.
June 24, 2010 The Respondent files a further request for production of documents.
June 25, 2010 The Tribunal holds a pre-hearing conference with the parties by telephone.
June 29, 2010 The Claimant files observations on the Respondent’s further request for production of documents.
July 7, 2010 The Respondent files a rejoinder on the merits.
July 12, 2010 The parties file a joint application for adjournment of the hearing.
The Tribunal grants the parties’ application for adjournment.
July 14, 2010 The Tribunal holds telephone conference regarding the procedural calendar.
December 3, 2010 The Claimant files a further request for production of documents.
December 22, 2010 The Tribunal issues a procedural order concerning production of documents.
January 21, 2011 The Respondent files a renewed request for production of documents.
January 26, 2011 The Claimant files observations on the Respondent’s renewed request for production of documents.
February 1, 2011 The Respondent files a response to the Claimant's observations of January 26, 2011.
February 4, 2011 The Claimant files observations on the Respondent’s response of February 1, 2011.
February 9, 2011 The Tribunal issues a procedural order concerning production of documents.
March 16, 2011 The Claimant files a renewed request for production of documents.
March 25, 2011 The Respondent files observations on the Claimant’s renewed request for production of documents.
March 29, 2011 The Claimant files a response to the Respondent’s observations of March 25, 2011.
April 4, 2011 The Claimant files a reply on production of documents.
April 11, 2011 The Tribunal issues a further procedural order concerning production of documents.
August 5, 2011 The Respondent files a request for the admissibility of new evidence.
August 6, 2011 The Claimant files observations on the Respondent's request of August 5, 2011.
August 8, 2011 The Respondent files further observations on its request of August 5, 2011, and a response to the Claimant's observations of August 6, 2011.
August 9, 2011 The Claimant files a response to the Respondent's further observations of August 8, 2011.
The Respondent files a reply on admissibility of new evidence.
August 12, 2011 The parties file outline submissions.
August 16, 2011 The Tribunal issues a procedural order concerning the admissibility of new evidence.
August 17, 2011 The Respondent files a request for reconsideration of the Tribunal's procedural order of August 16, 2011.
August 18, 2011 The Claimant files observations on the Respondent's request of August 17, 2011.
The Respondent files a response to the Claimant's observations of August 18, 2011.
August 20, 2011 The Tribunal issues a procedural order concerning the Respondent's request of August 17, 2011.
August 25, 2011 - September 5, 2011 The Tribunal holds a hearing on jurisdiction and merits in Singapore.
October 25, 2011 Each party files a post-hearing brief.
November 10, 2011 The Claimant files a reply post-hearing brief
November 11, 2011 The Respondent files a reply post-hearing brief.
November 25, 2011 Each party files a submission on costs.
September 4, 2012 The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).
October 31, 2012 The Tribunal renders its award; attached to the award is a dissenting opinion by arbitrator Makhdoom Ali Khan.

(b) Annulment Proceeding

Date Development
March 8, 2013 The Secretary-General registers an application for annulment of the award filed by the Democratic Socialist Republic of Sri Lanka, and notifies the parties of the provisional stay of enforcement of the award.
April 17, 2013 The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Andrés Rigo Sureda (Spanish), President; Hans Danelius (Swedish); and Azzedine Kettani (Moroccan); all members appointed by the Chairman of the Administrative Council.
May 20, 2013 The Democratic Socialist Republic of Sri Lanka files a request to continue the stay of enforcement of the award.
May 22, 2013 The ad hoc Committee holds a first session by telephone conference.
June 7, 2013 Deutsche Bank AG files observations on the Democratic Socialist Republic of Sri Lanka’s request to continue the stay of enforcement of the award.
June 14, 2013 The Democratic Socialist Republic of Sri Lanka files a memorial on annulment.
June 17, 2013 The Democratic Socialist Republic of Sri Lanka withdraws its request for a continuation of the stay of enforcement of the award.
June 18, 2013 The ad hoc Committee notifies the parties that in light of the Democratic Socialist Republic of Sri Lanka's withdrawal of its request for a continuation of the stay of enforcement of the award, the provisional stay of enforcement granted by the Secretary-General on March 8, 2013 is terminated.
July 11, 2013 The ad hoc Committee issues Procedural Order No. 1 concerning procedural matters.
August 5, 2013 Deutsche Bank AG files a request for the ad hoc Committee to decide on certain costs.
August 9, 2013 The Democratic Socialist Republic of Sri Lanka files observations on Deutsche Bank AG's request of August 5, 2013.
August 12, 2013 The ad hoc Committee issues Procedural Order No. 2 concerning Deutsche Bank AG's request of August 5, 2013.
September 11, 2013 Deutsche Bank AG files a counter-memorial on annulment.
December 18, 2013 The Democratic Socialist Republic of Sri Lanka files a reply on annulment.
April 8, 2014 The proceeding is suspended, pursuant to the parties' agreement.
June 18, 2014 The suspension of the proceeding is extended until July 16, 2014, pursuant to the parties' agreement.
July 16, 2014 The suspension of the proceeding is further extended until August 15, 2014, pursuant to the parties' agreement.
August 18, 2014 The suspension of the proceeding is further extended until September 15, 2014, pursuant to the parties' agreement.
September 15, 2014 The suspension of the proceeding is further extended until October 15, 2014, pursuant to the parties' agreement.
October 14, 2014 The suspension of the proceeding is further extended until October 29, 2014, pursuant to the parties' agreement.
October 30, 2014 The suspension of the proceeding is further extended until November 15, 2014, pursuant to the parties' agreement.
November 14, 2014 The suspension of the proceeding is further extended until November 28, 2014, pursuant to the parties' agreement.
November 30, 2014 The suspension of the proceeding is further extended until December 29, 2014, pursuant to the parties' agreement.
December 29, 2014 The suspension of the proceeding is further extended until January 30, 2015, pursuant to the parties' agreement.
January 30, 2015 The suspension of the proceeding is further extended until February 27, 2015, pursuant to the parties' agreement.
February 27, 2015 The suspension of the proceeding is further extended until March 31, 2015, pursuant to the parties' agreement.
March 30, 2015 The suspension of the proceeding is further extended until April 30, 2015, pursuant to the parties' agreement.
May 1, 2015 The suspension of the proceeding is further extended until May 30, 2015, pursuant to the parties' agreement.
May 29, 2015 The suspension of the proceeding is further extended until June 30, 2015, pursuant to the parties' agreement.
July 1, 2015 The suspension of the proceeding is further extended until July 31, 2015, pursuant to the parties' agreement.
August 5, 2015 The suspension of the proceeding is further extended until November 3, 2015, pursuant to the parties' agreement.
October 29, 2015 The suspension of the proceeding is further extended until February 1, 2016, pursuant to the parties' agreement.
February 9, 2016 The suspension of the proceeding is further extended until May 9, 2016, pursuant to the parties' agreement.
September 9, 2016 The Tribunal issues a procedural order taking note of the discontinuance of the proceeding pursuant to ICSID Arbitration Rule 43(1).