Case Details

Venoklim Holding B.V. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/12/22)

Subject of Dispute:

Lubricant production facilities
Economic Sector:

Other Industry
Instrument(s) Invoked:

Investment Law - Venezuela (1999)
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Venoklim Holding B.V. (Dutch)
Respondent(s):

Bolivarian Republic of Venezuela (Venezuelan)
Date Registered:

August 15, 2012
Date of Constitution of Tribunal:

February 14, 2013

Composition of Tribunal

President:

Yves DERAINS (French) - Appointed by the Chairman of the Administrative Council
Arbitrators:

Enrique GÓMEZ-PINZÓN (Colombian) - Appointed by the Claimant(s)
Rodrigo OREAMUNO (Costa Rican) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Jiménez & Liévano Abogados, Bogota, Colombia
Respondent(s):

Curtis, Mallet-Prevost, Colt & Mosle, Mexico City, Mexico, New York, NY, and Washington, D.C., U.S.A.
Procuraduría General de la República, Caracas, Venezuela
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

April 3, 2015 - The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).

The Tribunal renders its award; attached to the award is a concurring and dissenting opinion by arbitrator Enrique Gomez Pinzón.

(b) Annulment Proceeding

Applicant(s)/Requesting Party(ies):

Claimant(s)
Date Registered:

August 6, 2015 (Claimant(s))
Date of Constitution of ad hoc Committee:

September 23, 2015

Composition of ad hoc Committee (Appointed by the Chairman of the Administrative Council)

President:

Álvaro Rodrigo CASTELLANOS HOWELL (Guatemalan)
Members:

Piero BERNARDINI (Italian)
José Antonio MORENO RODRÍGUEZ (Paraguayan)

Party Representatives

Claimant(s):

Jiménez & Liévano Abogados, Bogota, Colombia
Respondent(s):

Curtis, Mallet-Prevost, Colt & Mosle, Mexico City, Mexico, New York, NY, and Washington, D.C., U.S.A.
Procuraduría General de la República, Caracas, Venezuela
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

February 2, 2018 - The ad hoc Committee issues its decision on the application for annulment.

(a) Original Proceeding

Published Decisions

Award of the Tribunal

Concurring and Dissenting Opinion by Arbitrator Enrique Gomez Pinzón

Available on the ICSID Website

Award of the Tribunal (April 3, 2015) Spanish (Original)

Concurring and Dissenting Opinion by Arbitrator Enrique Gomez Pinzón (April 3, 2015) Spanish (Original)

(b) Annulment Proceeding

Published Decisions

Decision on the Respondent’s Preliminary Objection under ICSID Arbitration Rule 41(5)

Decision on Annulment

Available on the ICSID Website

Decision on the Respondent’s Preliminary Objection under ICSID Arbitration Rule 41(5) (March 8, 2016) Spanish (Original)

Decision on Annulment (February 2, 2018) Spanish (Original)

(a) Original Proceeding

Date	Development
August 15, 2012	The Secretary-General registers a request for the institution of arbitration proceedings.
November 19, 2012	Following appointment by the Respondent, Rodrigo Oreamuno (Costa Rican) accepts his appointment as arbitrator.
November 28, 2012	Following appointment by the Claimant, Enrique Gómez-Pinzón (Colombian) accepts his appointment as arbitrator.
February 14, 2013	Following appointment by the Chairman of the Administrative Council, Yves Derains (French) accepts his appointment as presiding arbitrator.
February 14, 2013	The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Yves Derains (French), President, appointed by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention; Enrique Gomez Pinzón (Colombian), appointed by the Claimant; and Rodrigo Oreamuno (Costa Rican), appointed by the Respondent.
April 12, 2013	The Tribunal holds a first session in Washington, D.C.
July 5, 2013	The Respondent files objections to jurisdiction.
September 5, 2013	The Claimant files a counter-memorial on jurisdiction.
September 18, 2013	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
September 23, 2013	The Claimant files observations on the request to address the objections to jurisdiction as a preliminary question.
September 24, 2013	The Respondents files a response to the Claimant’s observations of September 23, 2013. The Claimant files further observations on the Respondent’s response of September 24, 2013.
October 1, 2013	The Tribunal decides on the Respondent’s request to address the objections to jurisdiction as a preliminary question.
November 1, 2013	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.
December 10, 2013	The Respondent files a reply on jurisdiction.
February 18, 2014	The Claimant files a rejoinder on jurisdiction.
March 11, 2014	The Tribunal holds a pre-hearing organizational meeting with the parties by telephone conference.
March 26, 2014 - March 27, 2014	The Tribunal holds a hearing on jurisdiction in Washington D.C.
April 3, 2015	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1). The Tribunal renders its award; attached to the award is a concurring and dissenting opinion by arbitrator Enrique Gomez Pinzón.

(b) Annulment Proceeding

Date	Development
August 6, 2015	The Secretary-General registers an application for annulment of the award filed by Venoklim Holding B.V.
September 23, 2015	The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Álvaro Rodrigo Castellanos Howell (Guatemalan), President; Piero Bernardini (Italian); and José Antonio Moreno Rodríguez (Paraguayan); all members appointed by the Chairman of the Administrative Council.
October 13, 2015	The Bolivarian Republic of Venezuela files preliminary objections pursuant to ICSID Arbitration Rule 41 (5)
October 29, 2015	Venoklim Holding B.V. files observations on the Bolivarian Republic of Venezuela’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
November 4, 2015	The Bolivarian Republic of Venezuela files a response to Venoklim Holding B.V.’s observations of October 29, 2015.
November 10, 2015	Venoklim Holding B.V. files further observations on the Bolivarian Republic of Venezuela’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
November 13, 2015	The ad hoc Committee holds a first session and a hearing on preliminary objections in Washington, D.C.
November 23, 2015	The ad hoc Committee issues Procedural Order No. 1 concerning procedural matters.
March 8, 2016	The ad hoc Committee issues a decision on the Bolivarian Republic of Venezuela’s preliminary objections pursuant to ICSID Arbitration Rule 41(5).
August 5, 2016	Venoklim Holding B.V. files a memorial on annulment.
December 5, 2016	The Bolivarian Republic of Venezuela files a counter-memorial on annulment.
January 16, 2017	Venoklim Holding B.V. files a reply on annulment.
February 27, 2017	The Bolivarian Republic of Venezuela files a rejoinder on annulment.
April 20, 2017	The ad hoc Committee holds a hearing on annulment in Washington, D.C.
May 26, 2017	Each party files a statement of costs.
October 4, 2017	The Committee declares the proceeding closed in accordance with ICSID Arbitration Rules 53 and 38(1).
February 2, 2018	The ad hoc Committee issues its decision on the application for annulment.