Case Details

Guardian Fiduciary Trust, Ltd, f/k/a Capital Conservator Savings & Loan, Ltd v. Macedonia, former Yugoslav Republic of (ICSID Case No. ARB/12/31)

Subject of Dispute:

Trust banking operations
Economic Sector:

Finance
Instrument(s) Invoked:

BIT Netherlands - North Macedonia 1998
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Guardian Fiduciary Trust, Ltd, f/k/a Capital Conservator Savings (Dutch)
Respondent(s):

Macedonia, former Yugoslav Republic of (Macedonian)
Date Registered:

October 5, 2012
Date of Constitution of Tribunal:

May 24, 2013

Composition of Tribunal

President:

Veijo HEISKANEN (Finnish) - Appointed by the Chairman of the Administrative Council
Arbitrators:

Andreas BUCHER (Swiss) - Appointed by the Claimant(s)
Brigitte STERN (French) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

Janura Law Office, Skopje, Former Yugoslav Republic of Macedonia
Juan F. Torres III, Fort Pierce, FL, U.S.A.
Respondent(s):

Latham & Watkins, Hamburg, Germany, Washington, D.C., U.S.A., London, U.K.
Reed Smith, Washington, D.C., U.S.A.
Language(s) of Proceeding:

English
Status of Proceeding:

Concluded
Outcome of Proceeding:

September 22, 2015 - The Tribunal renders its award.

No References Available.

(a) Original Proceeding

Date	Development
October 5, 2012	The Secretary-General registers a request for the institution of arbitration proceedings.
January 18, 2013	Following appointment by the Claimant, Andreas Bucher (Swiss) accepts his appointment as arbitrator. Following appointment by the Respondent, Brigitte Stern (French) accepts her appointment as arbitrator.
April 11, 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.
May 24, 2013	The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Veijo Heiskanen (Finnish), President, appointed by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention; Andreas Bucher (Swiss), appointed by the Claimant; and Brigitte Stern (French), appointed by the Respondent.
May 24, 2013	Following appointment by the Chairman of the Administrative Council, Veijo Heiskanen (Finnish) accepts his appointment as presiding arbitrator.
July 23, 2013	The Tribunal holds a first session in Paris.
August 5, 2013	The Tribunal issues a procedural order concerning procedural matters.
December 30, 2013	The Claimant files a memorial on jurisdiction and the merits.
January 30, 2014	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
February 20, 2014	The Claimant files observations on the request to address the objections to jurisdiction as a preliminary question.
March 12, 2014	The Tribunal issues a procedural order concerning the Respondent's request to address the objections to jurisdiction as a preliminary question; as a result, the proceeding on the merits is suspended.
May 20, 2014	Following exchanges between the parties, the Respondent files a request for the Tribunal to decide on production of documents.
May 28, 2014	The Tribunal issues a procedural order concerning production of documents.
September 19, 2014	The Respondent files a memorial on jurisdiction.
November 18, 2014	The Claimant files a counter-memorial on jurisdiction.
January 19, 2015	The Respondent files a reply on jurisdiction.
March 19, 2015	The Claimant files a rejoinder on jurisdiction.
April 21, 2015	The Tribunal holds a pre-hearing organizational meeting with the parties by telephone conference.
May 6, 2015	The Tribunal holds a hearing on jurisdiction in Paris.
June 17, 2015	Each party files a submission on costs.
September 22, 2015	The Tribunal renders its award.