Case Details

Vigotop Limited v. Hungary (ICSID Case No. ARB/11/22)

Subject of Dispute:

Resort development
Economic Sector:

Tourism
Instrument(s) Invoked:

BIT Cyprus - Hungary 1989
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Vigotop Limited (Cypriot)
Respondent(s):

Hungary (Hungarian)
Date Registered:

August 4, 2011
Date of Constitution of Tribunal:

January 19, 2012

Composition of Tribunal

President:

Klaus SACHS (German) - Appointed by the Parties
Arbitrators:

Doak BISHOP (U.S.) - Appointed by the Claimant(s)
Veijo HEISKANEN (Finnish) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Dr. Daisy Kiss & Partner Law Office, Budapest, Hungary
Lakatos, Köves and Partners Ügyvdi Iroda, Budapest, Hungary
Volterra Fietta, London, U.K.
Respondent(s):

Réczicza White & Case, Budapest, Hungary
Sárhegyi and Partners Law Firm, Budapest, Hungary
White & Case, New York, NY, U.S.A. and Paris, France
Language(s) of Proceeding:

English
Status of Proceeding:

Concluded
Outcome of Proceeding:

October 1, 2014 - The Tribunal renders its award.

(a) Original Proceeding

Published Decisions

Award - English (Original) (October 1, 2014)

(a) Original Proceeding

Date	Development
August 4, 2011	The Secretary-General registers a request for the institution of arbitration proceedings.
October 17, 2011	Following appointment by the Claimant, Doak Bishop (U.S.) accepts his appointment as arbitrator.
November 1, 2011	Following appointment by the Respondent, Veijo Heiskanen (Finnish) accepts his appointment as arbitrator.
January 19, 2012	Following appointment by the parties, Klaus M. Sachs (German) accepts his appointment as presiding arbitrator. The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Klaus M. Sachs (German), President, appointed by agreement of the parties; Doak Bishop (U.S.), appointed by the Claimant; and Veijo Heiskanen (Finnish), appointed by the Respondent.
April 12, 2012	The Tribunal holds a first session in Paris.
September 3, 2012	The Claimant files a memorial on jurisdiction and the merits.
December 14, 2012	The Respondent files a request for the Tribunal to decide on production of documents.
December 21, 2012	The Tribunal issues Procedural Order No. 1 concerning production of documents.
February 1, 2013	The Respondent files a counter-memorial on jurisdiction and the merits.
February 18, 2013	The Tribunal issues Procedural Order No. 2 concerning production of documents.
April 22, 2013	The Claimant files a request for the Tribunal to decide on production of documents.
April 25, 2013	The Tribunal issues Procedural Order No. 3 concerning production of documents.
May 21, 2013	The Claimant files a reply on jurisdiction and the merits.
June 30, 2013	The Respondent files a request for the Tribunal to decide on production of documents.
July 15, 2013	The Claimant files observations on the Respondent’s request for the Tribunal to decide on production of documents.
July 19, 2013	The Tribunal issues Procedural Order No. 4 concerning production of documents.
September 9, 2013	The Respondent files a rejoinder on jurisdiction and the merits.
October 18, 2013	The Claimant files a request for the Tribunal to decide on the admissibility of new evidence.
October 21, 2013	The Tribunal holds a pre-hearing organizational meeting with the parties by telephone conference.
October 22, 2013	The Respondent files observations on the Claimant’s request of October 18, 2013.
October 23, 2013	The Claimant files a response to the Respondent’s observations of October 22, 2013.
October 24, 2013	The Respondent files further observations on the Claimant’s response of October 23, 2013.
October 25, 2013	The Tribunal issues Procedural Order No. 5 concerning the admissibility of new evidence.
October 28, 2013	The Claimant files a request for the Tribunal to decide on the admissibility of new evidence.
October 30, 2013	The Respondent files observations on the Claimant’s request of October 28, 2013.
November 10, 2013	The Claimant files a request for provisional measures.
November 11, 2013 - November 22, 2013	The Tribunal holds a hearing on jurisdiction and the merits in Washington, D.C.
December 23, 2013	The Claimant files a request for the Tribunal to decide on the admissibility of new evidence.
December 24, 2013	The Respondent files observations on the Claimant’s request of December 23, 2013.
December 26, 2013	The Claimant files a response to the Respondent’s observations of December 24, 2013.
December 30, 2013	The Respondent files further observations on the Claimant’s response of December 26, 2013.
January 3, 2014	The Tribunal decides on the admissibility of new evidence.
January 17, 2014	The Claimant files a request for the Tribunal to decide on the admissibility of new evidence.
January 21, 2014	The Respondent files a request for the Tribunal to decide on the admissibility of new evidence.
January 22, 2014	The Claimant files observations on the Respondent's request of January 21, 2014.
January 24, 2014	The Respondent files observations on the Claimant's request of January 17, 2014, and files a response to the Claimant's observations of January 22, 2014.
January 28, 2014	The Tribunal decides on the admissibility of new evidence.
February 13, 2014	Each party files a post-hearing brief.
March 21, 2014	Each party files a statement of costs.
August 7, 2014	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).
October 1, 2014	The Tribunal renders its award.