Case Details

Valores Mundiales, S.L. and Consorcio Andino, S.L. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/13/11)

Subject of Dispute:

Food products enterprise
Economic Sector:

Agriculture, Fishing & Forestry
Instrument(s) Invoked:

BIT Spain - Venezuela, Republica Bolivariana de 1995
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Consorcio Andino, S.L. (Spanish), Valores Mundiales, S.L. (Spanish)
Respondent(s):

Bolivarian Republic of Venezuela (Venezuelan)
Date Registered:

June 6, 2013
Date of Constitution of Tribunal:

January 9, 2014

Composition of Tribunal

President:

Eduardo ZULETA (Colombian) - Appointed by the Chairman of the Administrative Council
Arbitrators:

Horacio A. GRIGERA NAÓN (Argentine) - Appointed by the Claimant(s)
Yves DERAINS (French) - Appointed by the Chairman of the Administrative Council

Party Representatives

Claimant(s):

Covington & Burling, Washington, D.C., U.S.A.
Respondent(s):

Foley Hoag, Washington D.C., U.S.A.
Procuraduria General de la República, Caracas, Venezuela
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

July 25, 2017 - The Tribunal renders its award.

(b) Annulment Proceeding

Applicant(s)/Requesting Party(ies):

Respondent(s)
Date Registered:

December 7, 2017 (Respondent(s))
Date of Constitution of ad hoc Committee:

March 5, 2018

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

President:

Luca G. RADICATI DI BROZOLO (British, Italian)
Members:

José Antonio MORENO RODRÍGUEZ (Paraguayan)
Fausto DE QUADROS (Portuguese)

Initial Composition of Tribunal

President:

Luca G. RADICATI DI BROZOLO (British, Italian) - Appointed by the Chairman of the Administrative Council
Arbitrators:

Dyalá JIMÉNEZ FIGUERES (Costa Rican) - Appointed by the Chairman of the Administrative Council
Fausto DE QUADROS (Portuguese) - Appointed by the Chairman of the Administrative Council
Reconstituted:

May 23, 2018: José Antonio MORENO RODRÍGUEZ (Paraguayan) appointed following the resignation of Dyalá JIMÉNEZ FIGUERES (Costa Rican)

Party Representatives

Claimant(s):

Covington & Burling, Washington, D.C., U.S.A.
Respondent(s):

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

Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

December 21, 2021 - The ad hoc Committee issues its decision on annulment.

No References Available.

(a) Original Proceeding

Date	Development
June 6, 2013	The Secretary-General registers a request for the institution of arbitration proceedings.
August 13, 2013	Following appointment by the Claimants, Horacio Grigera Naón (Argentine) accepts his appointment as arbitrator.
October 17, 2013	The Claimants file a request for the Chairman of the Administrative Council to appoint the arbitrators not yet appointed pursuant to Article 38 of the ICSID Convention.
November 26, 2013	Following appointment by the Chairman of the Administrative Council, Yves Derains (French) accepts his appointment as arbitrator.
January 9, 2014	Following appointment by the Chairman of the Administrative Council, Eduardo Zuleta (Colombian) accepts his appointment as presiding arbitrator.
January 9, 2014	The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Eduardo Zuleta (Colombian), President, appointed by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention; Horacio Grigera Naón (Argentine), appointed by the Claimants; and Yves Derains (French), appointed by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention.
February 5, 2014	The Tribunal holds a first session by telephone conference.
February 10, 2014	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
July 28, 2014	The Claimants file a memorial on jurisdiction and the merits.
September 11, 2014	The Respondent files a request to address the objections to jurisdiction as a preliminary question.
September 17, 2014	The Claimants file observations on the request to address the objections to jurisdiction as a preliminary question.
September 22, 2014	The Respondent files a response to the Claimants’ observations of September 17, 2014.
September 25, 2014	The Claimants file further observations on the Respondent’s response of September 22, 2014.
October 1, 2014	The Tribunal issues a decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question.
January 23, 2015	The Tribunal issues Procedural Order No. 2 concerning procedural matters.
January 25, 2015	The Respondent files a request for the Tribunal to decide on production of documents and on an extension to the procedural calendar.
January 28, 2015	The Claimants file observations on the Respondent’s request for the Tribunal to decide on production of documents and on an extension to the procedural calendar.
January 30, 2015	The Tribunal issues a decision on production of documents and on an extension to the procedural calendar.
March 9, 2015	The Respondent files a counter-memorial on jurisdiction and the merits.
June 29, 2015	The Claimants file a reply on jurisdiction and the merits.
October 19, 2015	The Respondent files a rejoinder on jurisdiction and the merits.
January 6, 2016	The Tribunal holds a pre-hearing organizational meeting with the parties by telephone conference.
January 11, 2016	The Tribunal issues Procedural Order No. 3 concerning procedural matters.
January 21, 2016	The Claimant files a request for the Tribunal to decide on the admissibility of new evidence. The Respondent files a request for the Tribunal to decide on the admissibility of new evidence.
January 29, 2016	The Respondent files observations on the Claimant’s request of January 21, 2016. The Claimant files observations on the Respondent’s request of January 22, 2016.
February 1, 2016	The Tribunal issues Procedural Order No. 4 concerning the admissibility of new evidence.
February 8, 2016 - February 12, 2016	The Tribunal holds a hearing on jurisdiction and merits in Washington, D.C.
March 25, 2016	The Respondent files a request for the Tribunal to decide on the admissibility of new evidence.
March 31, 2016	The Claimants file observations on the Respondent’s request of March 25, 2016.
April 5, 2016	The Tribunal issues Procedural Order No. 5 concerning the admissibility of new evidence. Each party files a post-hearing brief.
April 22, 2016	Each party files a submission on costs.
February 22, 2017	The Claimants file a request for the Tribunal to decide on the admissibility of new evidence.
February 27, 2017	The Respondent files observations on the Claimants’ request of February 22, 2017.
March 1, 2017	The Tribunal decides on the admissibility of new evidence.
June 20, 2017	The Tribunal declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1).
July 25, 2017	The Tribunal renders its award.

(b) Annulment Proceeding

Date	Development
December 7, 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.
March 5, 2018	The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Luca G. Radicati di Brozolo (Italian/British), President; Dyalá Jiménez (Costa Rican); and Fausto de Quadros (Portuguese); all members appointed by the Chairman of the Administrative Council.
April 26, 2018	Following the resignation of ad hoc Committee member Dyalá Jiménez Figueres, the Centre 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 23, 2018	The ad hoc Committee is reconstituted. Its members are: Luca G. Radicati di Brozolo (Italian/British), President; Fausto de Quadros (Portuguese); and José Antonio Moreno Rodríguez (Paraguayan); all members appointed by the Chairman of the Administrative Council. The proceeding is resumed pursuant to ICSID Arbitration Rules 53 and 12.
May 30, 2018	The ad hoc Committee holds a first session by telephone conference.
June 4, 2018	The Bolivarian Republic of Venezuela files a request to continue the stay of enforcement of the award.
June 21, 2018	The ad hoc Committee issues Procedural Order No. 1 concerning procedural matters.
June 25, 2018	Valores Mundiales, S.L. and Consorcio Andino S.L. file observations on the Bolivarian Republic of Venezuela’s request to continue the stay of enforcement of the award.
July 5, 2018	The Bolivarian Republic of Venezuela files a response to Valores Mundiales, S.L. and Consorcio Andino S.L. observations of June 25, 2018.
August 23, 2018	The Bolivarian Republic of Venezuela files a memorial on annulment.
September 6, 2018	The ad hoc Committee issues a decision on the continuation of the stay of enforcement of the award.
November 16, 2018	Valores Mundiales, S.L. and Consorcio Andino S.L. file a counter-memorial on annulment.
January 15, 2019	The Bolivarian Republic of Venezuela files a reply on annulment.
March 16, 2019	Valores Mundiales, S.L. and Consorcio Andino S.L. file a rejoinder on annulment.
August 29, 2019	The ad hoc Committee issues Procedural Order No. 2 concerning procedural matters.
October 29, 2019	The Secretary-General moves that the ad hoc Committee stay the proceeding pursuant to ICSID Administrative and Financial Regulation 14(3)(d) and (e).
November 11, 2019	The proceeding is stayed for non-payment of the required advances pursuant to ICSID Administrative and Financial Regulation 14(3)(d) and (e).
March 27, 2020	The proceeding is resumed following payment of the required advances.
September 29, 2020	The ad hoc Committee holds a pre-hearing organizational meeting with the parties by telephone conference.
October 1, 2020	The ad hoc Committee issues Procedural Order No. 3 concerning the organization of the hearing.
October 20, 2020 - October 21, 2020	The ad hoc Committee holds a hearing on annulment by video conference.
December 5, 2020	Each party files a statement of costs.
December 7, 2021	The ad hoc Committee declares the proceeding closed in accordance with ICSID Arbitration Rules 38(1) and 53.
December 21, 2021	The ad hoc Committee issues its decision on annulment.