Case Details

Poštová banka, a.s. and ISTROKAPITAL SE v. Hellenic Republic (ICSID Case No. ARB/13/8)

Proceeding Materials Procedural Details

  • Debt instruments
  • Finance
  • BIT Cyprus - Greece 1992, BIT Greece - Czechia 1991
  • ICSID Convention - Arbitration Rules

    (a) Original Proceeding

    • ISTROKAPITAL SE (Cypriot), Poštová banka, a.s. (Slovak)
    • Hellenic Republic (Greek)
    • May 20, 2013
    • October 21, 2013

      Composition of Tribunal

    • Eduardo ZULETA (Colombian) - Appointed by the Secretary-General
    • John M. TOWNSEND (U.S.) - Appointed by the Claimant(s)
      Brigitte STERN (French) - Appointed by the Respondent(s)

      Party Representatives

    • Debevoise & Plimpton, New York, NY, U.S.A.
      Havel, Holásek & Partners s.r.o., Prague, Czech Republic
    • Cleary Gottlieb Steen & Hamilton, Paris, France and London, U.K.
      Legal Council of the State, Athens, Greece
    • English
    • Concluded
    • April 9, 2015 - The Tribunal renders its award.

    (b) Annulment Proceeding

    • Claimant(s)
    • August 5, 2015 (Claimant(s))
    • September 2, 2015

      Party Representatives

    • Debevoise & Plimpton, New York, NY, U.S.A.
    • Cleary Gottlieb Steen & Hamilton, Paris, France, and London, U.K.
      Legal Council of the State, Athens, Greece
    • English
    • Concluded
    • September 29, 2016 - The ad hoc Committee issues its decision on partial annulment.

(a) Original Proceeding

Published Decisions

Procedural Order No. 1

Procedural Order No. 2

Procedural Order No. 3

Procedural Order No. 4

Procedural Order No. 5

Procedural Order No. 6

Clarification to Procedural Order No. 6

Award of the Tribunal

Available on the ICSID Website

Procedural Order No. 1 (December 20, 2013) English (Original)

Procedural Order No. 2 (January 9, 2014) English (Original)

Procedural Order No. 3 (January 22, 2014) English (Original)

Procedural Order No. 4 (March 6, 2014) English (Original)

Procedural Order No. 5 (May 27, 2014) English (Original)

Procedural Order No. 6 (July 20, 2014) English (Original)

Clarification to Procedural Order No. 6 (July 23, 2014) English (Original)

Award of the Tribunal (April 9, 2015) English (Original)

(b) Annulment Proceeding

Published Decisions

Procedural Order No. 1

Decision on Annulment

Available on the ICSID Website

Procedural Order No. 1 (November 4, 2015) English (Original)

Decision on Annulment (September 29, 2016) English (Original)

(a) Original Proceeding

Date Development
May 20, 2013 The Secretary-General registers a request for the institution of arbitration proceedings.
June 26, 2013 Following appointment by the Claimants, John Townsend (U.S.) accepts his appointment as arbitrator.
July 31, 2013 Following appointment by the Respondent, Brigitte Stern (French) accepts her appointment as arbitrator.
October 21, 2013 Following appointment by the parties, Eduardo Zuleta (Colombian) accepts his appointment as presiding arbitrator.

The Tribunal is constituted in accordance with Article 37(2)(a) of the ICSID Convention. Its members are: Eduardo Zuleta (Colombian), President, appointed by the Secretary-General pursuant to the parties' agreement; John Townsend (U.S.), appointed by the Claimants; and Brigitte Stern (French), appointed by the Respondent.
December 17, 2013 The Tribunal holds a first session by telephone conference.
December 20, 2013 The Tribunal issues Procedural Order No. 1.
January 9, 2014 The Tribunal issues Procedural Order No. 2 concerning procedural matters.
January 22, 2014 The Tribunal issues Procedural Order No. 3 concerning production of documents.
March 6, 2014 The Tribunal issues Procedural Order No. 4 concerning the procedural calendar.
May 1, 2014 The Respondent files a memorial on jurisdiction.
May 27, 2014 The Tribunal issues Procedural Order No. 5 concerning production of documents.
June 17, 2014 The Claimants file a memorial on the merits and a counter-memorial on jurisdiction.
July 20, 2014 The Tribunal issues Procedural Order No. 6 concerning production of documents.
July 23, 2014 The Tribunal issues a clarification to Procedural Order No. 6.
August 15, 2014 The Respondent files a reply on jurisdiction.
August 21, 2014 The Tribunal holds a pre-hearing organizational meeting with the parties by telephone conference.
August 22, 2014 The Tribunal issues Procedural Order No. 7 concerning procedural matters.
September 8, 2014 - September 9, 2014 The Tribunal holds a hearing on jurisdiction in Washington, D.C.
October 31, 2014 The Claimants file a statement on costs.
November 6, 2014 The Respondent files a statement on costs.
April 9, 2015 The Tribunal renders its award.

(b) Annulment Proceeding

Date Development
August 5, 2015 The Secretary-General registers an application for partial annulment of the award filed by Poštová banka, a.s.
September 2, 2015 The ad hoc Committee is constituted in accordance with Article 52(3) of the ICSID Convention. Its members are: Azzedine Kettani (Moroccan), President; David Edward (British); and Hi-Taek Shin (Korean); all members appointed by the Chairman of the Administrative Council.
October 29, 2015 The ad hoc Committee holds a first session by telephone conference.
November 4, 2015 The ad hoc Committee issues Procedural Order No. 1. concerning procedural matters.
November 20, 2015 Poštová banka, a.s. files a memorial on partial annulment.
February 5, 2016 The Hellenic Republic files a counter-memorial on partial annulment.
March 18, 2016 Poštová banka, a.s. files a reply on partial annulment.
April 28, 2016 The Hellenic Republic files a rejoinder on partial annulment.
June 1, 2016 The ad hoc committee holds a hearing on partial annulment in London.
June 30, 2016 Each party files a submission on costs.
August 23, 2016 The ad hoc Committee declares the proceeding closed in accordance with ICSID Arbitration Rule 38(1) and 53.
September 29, 2016 The ad hoc Committee issues its decision on partial annulment.