Case Details

Highbury International AVV, Compañía Minera de Bajo Caroní AVV, and Ramstein Trading Inc. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB/14/10)

Subject of Dispute:

Mining concession
Economic Sector:

Oil, Gas & Mining
Instrument(s) Invoked:

BIT Netherlands - Venezuela, Republica Bolivariana de 1991 - Investment Law - Venezuela (1999)
Applicable Rules:

ICSID Convention - Arbitration Rules

(a) Original Proceeding

Claimant(s)/Nationality(ies):

Ramstein Trading Inc. (Panamanian), Compañía Minera de Bajo Caroní AVV (Dutch), Highbury International AVV (Dutch)
Respondent(s):

Bolivarian Republic of Venezuela (Venezuelan)
Date Registered:

May 19, 2014
Date of Constitution of Tribunal:

November 21, 2014

Composition of Tribunal

President:

Juan FERNÁNDEZ-ARMESTO (Spanish) - Appointed by the Chairman of the Administrative Council
Arbitrators:

Francisco ORREGO VICUÑA (Chilean) - Appointed by the Claimant(s)
Brigitte STERN (French) - Appointed by the Respondent(s)

Party Representatives

Claimant(s):

González de Cossío Abogados, S.C., Mexico City, Mexico
Homer Bonner Jacobs, Miami, FL
Mezgravis & Asoc, Caracas, Venezuela
Respondent(s):

Procuraduría General de la República, Caracas, Venezuela
Language(s) of Proceeding:

Spanish
Status of Proceeding:

Concluded
Outcome of Proceeding:

January 5, 2018 - The Tribunal issues a procedural order for the discontinuance of the proceeding for lack of payment of the required advances, pursuant to ICSID Administrative and Financial Regulation 14(3)(d).

(a) Original Proceeding

Published Decisions

Decision on the Proposal to Disqualify Professor Brigitte Stern (Spanish;)

(a) Original Proceeding

Date	Development
May 19, 2014	The Secretary-General registers a request for the institution of arbitration proceedings.
August 22, 2014	Following appointment by the Respondent, Brigitte Stern (French) accepts her appointment as arbitrator.
August 26, 2014	Following appointment by the Claimants, Francisco Orrego Vicuña (Chilean) accepts his appointment as arbitrator.
November 21, 2014	The Tribunal is constituted in accordance with 37(2)(b) of the ICSID Convention. Its members are: Juan Fernández Armesto (Spanish), President, appointed by the Chairman of the Administrative Council in accordance with Article 38 of the ICSID Convention; Francisco Orrego Vicuña (Chilean), appointed by the Claimants; and Brigitte Stern (French), appointed by the Respondent.
January 9, 2015	The Claimants file a proposal for disqualification of arbitrator Brigitte Stern. The proceeding is suspended in accordance with ICSID Arbitration Rule 9(6).
January 23, 2015	The Respondent files observations on the proposal for disqualification.
January 30, 2015	The arbitrator furnishes explanations regarding the proposal for disqualification in accordance with ICSID Arbitration Rule 9(3).
February 13, 2015	The Claimants file further observations on the proposal for disqualification.
February 19, 2015	The Respondent confirms that it does not have further observations on the proposal for disqualification.
June 9, 2015	The proposal for disqualification of arbitrator Brigitte Stern is rejected by the co-arbitrators. The proceeding is resumed pursuant to ICSID Arbitration Rule 9(6).
July 9, 2015	The President of the Tribunal holds a first session by telephone conference.
July 16, 2015	The Claimants file a request for provisional measures.
July 31, 2015	The Respondent file observations on the Claimants’ request for provisional measures.
September 24, 2015	The Tribunal issues a decision on provisional measures.
October 1, 2015	The Tribunal issues Procedural Order No. 1 concerning procedural matters.
October 7, 2015	The Secretary-General moves that the Tribunal stay the proceeding pursuant to ICSID Administrative and Financial Regulation 14(3)(d). The Claimants file a memorial on the merits.
October 16, 2015	The proceeding is stayed for non-payment of the required advances pursuant to ICSID Administrative and Financial Regulation 14(3)(d).
January 31, 2017	The proceeding is resumed following payment of the required advances.
May 10, 2017	The Secretary-General moves that the Tribunal stay the proceeding pursuant to ICSID Administrative and Financial Regulation 14(3)(d).
May 12, 2017	The proceeding is stayed for non-payment of the required advances pursuant to ICSID Administrative and Financial Regulation 14(3)(d).
November 22, 2017	The Secretary-General moves that the Tribunal discontinue the proceeding for lack of payment of the required advances, pursuant to ICSID Administrative and Financial Regulation 14(3)(d).
January 5, 2018	The Tribunal issues a procedural order for the discontinuance of the proceeding for lack of payment of the required advances, pursuant to ICSID Administrative and Financial Regulation 14(3)(d).