Case Details

Transban Investments Corp. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/12/24)

Subject of Dispute:

Vehicle import enterprise
Economic Sector:

Transportation
Instrument(s) Invoked:

BIT Venezuela, Republica Bolivariana de - Barbados 1994
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Transban Investments Corp. (Barbadian)
Respondent(s):

Bolivarian Republic of Venezuela (Venezuelan)
Date Registered:

August 27, 2012
Date of Constitution of Tribunal:

February 24, 2014

Composition of Tribunal

President:

Peter TOMKA (Slovak) - Appointed by the Chairman of the Administrative Council
Arbitrators:

David D. CARON (U.S.) - Appointed by the Claimant(s)
Santiago TORRES BERNÁRDEZ (Spanish) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

DLA Piper, Miami, FL, U.S.A.
Respondent(s):

Guglielmino & Asociados, Buenos Aires, Argentina
Procuraduría General de la República, Caracas, Venezuela
Language(s) of Proceeding:

English,Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

November 22, 2017 - The Tribunal renders its award; attached to the award are a dissenting and concurring opinion by arbitrator David Caron and a separate opinion by arbitrator Santiago Torres Bernardez.

No References Available.

(a) Original Proceeding

Date	Development
August 27, 2012	The Secretary-General registers a request for the institution of arbitration proceedings.
November 20, 2012	Following appointment by the Claimant, David Caron (U.S.) accepts his appointment as arbitrator.
January 30, 2013	Following appointment by the Respondent, Santiago Torres Bernárdez (Spanish) accepts his appointment as arbitrator.
December 24, 2013	The Claimant files a request for the Chairman of the Administrative Council to appoint the arbitrator not yet appointed pursuant to Article 38 of the ICSID Convention.
February 23, 2014	Following appointment by the Chairman of the Administrative Council, Peter Tomka (Slovak) accepts his appointment as presiding arbitrator.
February 24, 2014	The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Peter Tomka (Slovak), President, appointed by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention; David Caron (U.S.), appointed by the Claimant; and Santiago Torres Bernárdez (Spanish), appointed by the Respondent. The Claimant files a proposal for disqualification of arbitrator Santiago Torres Bernárdez. The Respondent files a proposal for disqualification of arbitrator David Caron. The proceeding is suspended in accordance with ICSID Arbitration Rule 9(6).
March 3, 2014	The Respondent files additional observations on the proposal for disqualification of arbitrator David Caron.
March 12, 2014	The Claimant files observations on the proposed disqualification of arbitrator David Caron. The Respondent files observations on the proposed disqualification of arbitrator Santiago Torres Bernárdez.
March 21, 2014	Arbitrator David Caron furnishes explanations regarding the proposed disqualification in accordance with ICSID Arbitration Rule 9(3). Arbitrator Santiago Torres Bernárdez furnishes explanations regarding the proposed disqualification in accordance with ICSID Arbitration Rule 9(3).
March 28, 2014	The Claimant files additional observations on the proposed disqualification of arbitrator Santiago Torres Bernárdez. The Respondent files additional observations on the proposed disqualifications of arbitrators David Caron and Santiago Torres Bernárdez.
May 13, 2014	The proposed disqualifications of arbitrator David Caron and arbitrator Santiago Torres Bernárdez are declined by the Chairman of the Administrative Council. The proceeding is resumed pursuant to ICSID Arbitration Rule 9(6).
September 30, 2014	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
December 11, 2014	The Tribunal issues Procedural Order No. 2 concerning procedural matters.
February 6, 2015	The Claimant files a memorial on the merits.
April 5, 2015	Following exchanges between the parties, the Respondent files a request for the Tribunal to decide on production of documents.
April 21, 2015	The Tribunal issues Procedural Order No. 3 concerning production of documents.
June 19, 2015	The Tribunal issues Procedural Order No. 4 concerning the procedural calendar.
August 4, 2015	The Respondent files a memorial on jurisdiction and a counter-memorial on the merits.
October 8, 2015	The Tribunal issues Procedural Order No. 5 concerning production of documents.
November 2, 2015	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 17, 2015	The Claimant files a counter-memorial on jurisdiction.
February 8, 2016	The Tribunal issues Procedural Order No. 6 concerning the organization of the hearing on jurisdiction.
March 2, 2016 - March 3, 2016	The Tribunal holds a hearing on jurisdiction in The Hague.
May 10, 2016	Each party files a statement of costs.
November 22, 2017	The Tribunal renders its award; attached to the award are a dissenting and concurring opinion by arbitrator David Caron and a separate opinion by arbitrator Santiago Torres Bernardez.