Case Details

Tenaris S.A. and Talta - Trading e Marketing Sociedade Unipessoal Lda. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/12/23)

Subject of Dispute:

Production of hot briquetted iron and steel products
Economic Sector:

Other Industry
Instrument(s) Invoked:

BIT Venezuela, Republica Bolivariana de - Belgium-Luxembourg 1998, BIT Venezuela, Republica Bolivariana de - Portugal 1994
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Tenaris S.A. (Luxembourg), Talta - Trading e Marketing Sociedade Unipessoal Lda. (Portuguese)
Respondent(s):

Bolivarian Republic of Venezuela (Venezuelan)
Date Registered:

August 21, 2012
Date of Constitution of Tribunal:

July 18, 2013

Composition of Tribunal

President:

Juan FERNÁNDEZ-ARMESTO (Spanish) - Appointed by the Parties
Arbitrators:

Enrique GÓMEZ-PINZÓN (Colombian) - Appointed by the Claimant(s)
Brigitte STERN (French) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Freshfields Bruckhaus Deringer, 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:

December 12, 2016 - The Tribunal renders its award.

(b) Annulment Proceeding

Applicant(s)/Requesting Party(ies):

Respondent(s)
Date Registered:

April 18, 2017 (Respondent(s))
Date of Constitution of ad hoc Committee:

October 17, 2017

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

President:

Rolf KNIEPER (German)
Members:

N. Fernando PIÉROLA CASTRO (Peruvian, Swiss)
José Antonio MORENO RODRÍGUEZ (Paraguayan)

Initial Composition of Tribunal

President:

Rolf KNIEPER (German) - Appointed by the Chairman of the Administrative Council
Arbitrators:

Dyalá JIMÉNEZ FIGUERES (Costa Rican) - Appointed by the Chairman of the Administrative Council
José Antonio MORENO RODRÍGUEZ (Paraguayan) - Appointed by the Chairman of the Administrative Council
Reconstituted:

May 7, 2018: N. Fernando PIÉROLA CASTRO (Peruvian ,Swiss) appointed following the resignation of Dyalá JIMÉNEZ FIGUERES (Costa Rican)

Party Representatives

Claimant(s):

Freshfields Bruckhaus Deringer, Washington, D.C., U.S.A.
Respondent(s):

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

English,Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

December 28, 2018 - The ad hoc Committee issues its decision on annulment.

(a) Original Proceeding

Published Decisions

Award

Available on the ICSID Website

Award (December 12, 2016) Spanish (Original)

(b) Annulment Proceeding

Published Decisions

Decision on Annulment (English;)

(a) Original Proceeding

Date	Development
August 21, 2012	The Secretary-General registers a request for the institution of arbitration proceedings.
February 22, 2013	Following appointment by the Claimants, Enrique Gómez Pinzón (Colombian) accepts his appointment as arbitrator.
March 21, 2013	Following appointment by the Respondent, Brigitte Stern (French) accepts her appointment as arbitrator.
July 18, 2013	Following appointment by the parties, Juan Fernández-Armesto (Spanish) accepts his appointment as presiding arbitrator.
July 18, 2013	The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Juan Fernández-Armesto (Spanish), President, appointed by agreement of the parties; Enrique Gómez Pinzón (Colombian), appointed by the Claimants; and Brigitte Stern (French) appointed by the Respondent.
September 12, 2013	The Tribunal holds a first session by telephone conference.
October 2, 2013	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
October 21, 2013	The Claimants file a memorial on the merits.
November 25, 2013	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
December 16, 2013	The Claimants file observations on the request to address the objections to jurisdiction as a preliminary question.
January 15, 2014	The Tribunal issues a decision on the Respondents’ request to address the objections to jurisdiction as a preliminary question.
April 1, 2014	The Respondent files a memorial on jurisdiction.
June 16, 2014	The Claimants file a counter-memorial on jurisdiction.
July 10, 2014	Following an agreement by the parties, the Respondent’s objections to jurisdiction are joined to the merits; as a result, the proceeding on the merits resumes as of July 2, 2014.
October 21, 2014	The Respondent files a counter-memorial on the merits and objections to jurisdiction.
January 27, 2015	The Claimants file a reply on jurisdiction and the merits.
April 14, 2015	The Respondent files a rejoinder on jurisdiction and the merits.
June 2, 2015	The Tribunal issues Procedural Order No. 2 concerning procedural matters.
June 11, 2015	Following exchanges between the parties, the Tribunal decides on the admissibility of new evidence.
June 15, 2015 - June 22, 2015	The Tribunal holds a hearing on jurisdiction and the merits in Washington, D.C.
July 22, 2015	The Tribunal issues Procedural Order No. 3 concerning procedural matters.
September 14, 2015	Each party files a post-hearing brief.
October 2, 2015	Each party files a statement of costs.
August 5, 2016	The Tribunal poses questions to the parties.
September 2, 2016	The Claimants file answers to the questions posed by the Tribunal on August 5, 2016.
September 30, 2016	The Respondent files answers to the questions posed by the Tribunal on August 5, 2016.
October 11, 2016	The Claimants file a reply to the questions posed by the Tribunal on August 5, 2016.
October 20, 2016	The Respondent files a rejoinder to the questions posed by the Tribunal on August 5, 2016.
November 15, 2016	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).
December 12, 2016	The Tribunal renders its award.

(b) Annulment Proceeding

Date	Development
April 18, 2017	The Secretary-General registers an application for annulment of the award filed by the Bolivarian Republic of Venezuela, and notifies the parties of the provisional stay of enforcement of the award.
October 17, 2017	The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Rolf Knieper (German), President; Dyalá Jiménez (Costa Rican); and José Antonio Moreno Rodríguez (Paraguayan); all members appointed by the Chairman of the Administrative Council.
October 19, 2017	Tenaris SA and Talta - Trading E Marketing Sociedade Unipessoal Lda file observations on the Bolivarian Republic of Venezuela’s request to continue the stay of enforcement of the award.
November 8, 2017	The Bolivarian Republic of Venezuela files a response to Tenaris SA and Talta - Trading E Marketing Sociedade Unipessoal Lda’s observations of October 19, 2017.
November 27, 2017	Tenaris SA and Talta - Trading E Marketing Sociedade Unipessoal Lda file further observations to the Bolivarian Republic of Venezuela‘s response of November 8, 2017.
December 5, 2017	The ad hoc Committee holds a first session by telephone conference.
December 6, 2017	The ad hoc Committee issues Procedural Order No. 1 concerning procedural matters.
December 14, 2017	The Bolivarian Republic of Venezuela files a further response to Tenaris SA and Talta - Trading E Marketing Sociedade Unipessoal Lda’s observations of November 27, 2017.
January 23, 2018	The Bolivarian Republic of Venezuela files a memorial on annulment.
February 1, 2018	The ad hoc Committee holds a hearing on the stay of enforcement of the award in Washington, D.C.
February 23, 2018	The ad hoc Committee issues a decision on the termination of the stay of enforcement of the award.
March 20, 2018	Tenaris SA and Talta - Trading E Marketing Sociedade Unipessoal Lda file a counter-memorial on annulment.
April 17, 2018	The Bolivarian Republic of Venezuela files a reply on annulment.
April 25, 2018	Following the resignation of ad hoc Committee member Dyalá Jiménez Figueres, the Secretary-General notifies the parties of the vacancy on the ad hoc Committee and the proceeding is suspended pursuant to ICSID Arbitration Rules 53 and 10(2).
May 7, 2018	The ad hoc Committee is reconstituted. Its members are Rolf Knieper (German), President, N. Fernando Piérola Castro (Peruvian/Swiss), and José Antonio Moreno Rodríguez (Paraguayan), all appointed by the Chairman of the Administrative Council. The proceeding is resumed pursuant to ICSID Arbitration Rules 12 and 53.
May 29, 2018	Tenaris SA and Talta - Trading E Marketing Sociedade Unipessoal Lda file a rejoinder on annulment.
August 27, 2018	The ad hoc Committee holds a hearing on annulment in Washington, D.C.
September 25, 2018	Each party files a post-hearing brief.
October 9, 2018	Each party files a statement of costs.
October 17, 2018	The ad hoc Committee declares the proceeding closed in accordance with ICSID Arbitration Rules 38(1) and 53.
December 28, 2018	The ad hoc Committee issues its decision on annulment.